Emotion and pricing
DOI:
https://doi.org/10.5281/zenodo.5638734Keywords:
the role of emotion in reactions to price, psychological pricing, business practicesAbstract
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.
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