Keywords
psychological pricing
business practices
How to Cite
Abstract
Psychological pricing is a pricing strategy that utilizes specific techniques to form a psychological or subconscious impact on consumers. It integrates sale tactics with price. Most psychological pricing tactics simplify the decision-making process for consumers. Gauging a target market’s emotional responses to an item is known as psychological pricing. What is psychological pricing? Simply, it is a slick way to increase sales without significantly reducing prices.
References
Костова, И. Цени и ценова политика. Стара Загора: Алфамаркет, 2010.
Chandon, P., J. Hutchinson, and E. Bradlow. Measuring the Value of Pointof-Purchase Marketing with Commercial Eye-Tracking Data. [online]. [Accessed 5.03.2021]. https://sites.insead.edu/facultyresearch/research/doc.cfm?did=2691.
Kolenda, N. Add Visual Contrast to Sale Prices. Pricing Psychology. [online]. [Accessed 10.03.2021]. https://www.nickkolenda.com/psychologicalpricing-strategies/.
LaPlante, А. Asking Consumers to Compare May Have Unintended Results. Stanford Graduate School of Business. [online]. [Accessed 16.03.2021]. https://www.gsb.stanford.edu/insights/asking-consumers-compare-may-haveunintended-results.
Recommended Retail Price: Definition, Rules and How It’s Used. – In: Osome. [online]. [Accessed 8.04.2021]. https://osome.com.
This work is licensed under a Creative Commons Attribution 4.0 International License.
Copyright (c) 2021 2021