The Psychology of Retail Pricing

Intro Sponsored Content Click to learn more! If you want to make your company's prices more attractive to consumers, you do not necessarily need to lower them. Instead, you can use psychological pricing strategies to maintain the price while making it more attractive. A psychological pricing strategy relies on the nature of human psychology to make prices appear more attractive to consumers. It takes advantage of the ideas that humans do not always act rationally and that certain prices may seem more appealing for reasons beyond just being lower. When choosing a psychological pricing strategy, consider your specific product's image and remember that effectiveness can vary by market.

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