Tag Archives: Psychological pricing

What Is Meant by Psychological Pricing

Psychological pricing is a rates and sales method based upon the belief that particular costs will affect a possible customer in several methods. Mental prices is created to assist get rid of resistance to making a purchase, so the company can make more sales.

Big companies like Amazon use psychological rates to drive sales. However small businesses can use it too, once they master the basic principles.

There are a number of affecting aspects that can help you offer well to your target market. Here are a few of the most crucial ones to bear in mind.

Nines and 7s

$ 99.99 or $99.97 is really mentally more luring and appropriate than $100. For some reason, the human mind hones in on the first 9, not relating it with the greater cost of $100, which is more accurate.

The Look of Discounting

Many individuals will look for a low cost or a big discount rate. Noting a Continue reading