Psychological Pricing

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Psychological pricing is used by stores to get you to open up your wallet. These tactics can also be applied to improve your pricing strategy too.

Negócios Economia e finanças

Pricing Strategies PriceIntelligently
TM
PSYCHOLOGICAL PRICING:
WHERE’S YOUR HEAD AT?

Pricing Strategies PriceIntelligently
TM
Have you ever left the mall and realized you
blew your budget?

Pricing Strategies PriceIntelligently
TM
Don’t worry it’s not your fault

Pricing Strategies PriceIntelligently
TM
Stores are psychologically designed to get
you to spend money

Pricing Strategies PriceIntelligently
TM
On the bright side, you can use
these tactics too!

Pricing Strategies PriceIntelligently
TM
Let’s go over 4 of the most common
psychological pricing techniques

Pricing Strategies PriceIntelligently
TM

Pricing Strategies PriceIntelligently
TM
Artificial Time Constraint: Create a
sense of urgency to purchase

Pricing Strategies PriceIntelligently
TM
Make your product seem exclusive;
play hard to get

Pricing Strategies PriceIntelligently
TM
Charm Pricing: End your pricing
with .99 to suggest a great deal

Pricing Strategies PriceIntelligently
TM
Conversely, whole dollar prices now
imply great quality

Pricing Strategies PriceIntelligently
TM
Innumeracy: Customers get confused
by lots of numbers

Pricing Strategies PriceIntelligently
TM
They like “Buy One Get One Free” more
than getting 50% off (they’re the exact same!)

Pricing Strategies PriceIntelligently
TM
Price Appearance: Longer prices
seem more expensive

Pricing Strategies PriceIntelligently
TM
Try shortening your prices to “24”
instead of “$24.00”

Pricing Strategies PriceIntelligently
TM
Key to using these tactics is to be honest
and transparent with your pricing

Pricing Strategies PriceIntelligently
TM
Pricing should leave both you and your
customers happy!

Pricing Strategies PriceIntelligently
TM
Download our free e-book to stop
guessing, and start pricing intelligently.

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