Psychological Pricing
Setting the price of a product based on the wanted public perception for that product.
Contributed by: Cabe Kline
Pub-Set ...
Psychological Pricing.
This approach is used when the marketer wants the consumer to respond on an emotional, rather than rational basis. For example 'price point perspective' 99 cents not one dollar.
Product Line Pricing.
Psychological Pricing Refers to consumer perceptions of retail prices.
psychological pricing
pricing intended to influence the customers' perception of the actual price of a product, two common forms of psychological pricing are odd pricing and prestige pricing, see odd pricing and prestige pricing ...
Psychological pricing: using price as a means of influencing a consumer's behaviour or perceptions, for example using high prices to reinforce a quality image, or selling at £2.99 instead of £3.
Psychological pricing: The seller here will consider the psychology of price and the positioning of price within the market place. The seller will therefore charge 99p instead £1 or $199 instead of $200 ...
See Psychological Pricing. Prestige Products items of superior quality; high status merchandise.
 See also: Price, Product, Pricing, Market, Competition
  
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