psychological pricing

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psychological pricing

an approach to PRICING which pays particular attention to the effect which a product's PRICE has upon consumers' perceptions of the product. This has a number of dimensions, including:
  1. the charging of very high prices for certain (generally high-quality) consumer products to convey an impression of product exclusiveness. High prices may appeal to particular high-income customers who wish to possess the product as a status symbol (‘conspicuous consumption’);
  2. the charging of high prices for technologically sophisticated consumer products in order to convey an impression of superior product quality and performance.

    This may play an important part in the buying decision when consumers are ignorant about the comparative properties of the brands of the product facing them, and thus use price as an indicator of quality;

  3. the charging of a price for a product which is just below a ‘round figure’ threshold price (for example 99 pence rather than £1) so as to create an impression that the product's price is considerably below the threshold;
  4. the charging of relatively low prices for frequently purchased and familiar products so as to create or reinforce an impression of value for money.
References in periodicals archive ?
The definition also does not include retailers operating as unit of a national or international chain of stores, a retailer operating in an air-conditioned shopping mall, plaza or center, a retailer who has a credit or debit card machine, any person whose cumulative electricity bill exceeds Rs300,000 during the last 12 months and an individual covered under Section 99C of the Income Tax Ordinance, 2001.
He also tried out some compact 9mm's (bottom, left to right) with the Walther 99C and the Springfield XDE.
Meanwhile, drivers in Macedonia are least fortunate with the average tip just 99c.
The box magazine (99C) was introduced in 1965, but some versions with rotary magazines continued in production until 1984.
When using an AIO cooler, the load temp on the Pentium G3258 was 99C. Using dry ice, load temperature under identical circumstances was 10C.
TRAFFIC problems broke out across the country yesterday morning as a petrol station firm slashed their fuel prices to 99c.
99c the power which causes things to be now placed as it is best for them to be placed, nor do they think it has any divine force, but they think they can find a new Atlas more powerful and more immortal and more all-embracing than this, and in truth they give no thought to the good, which must embrace and hold together all things.
Scott Rupp's "A Savage Appreciation" ("Lands & Grooves," March/April), having acquired a saddle-weary 99C some years ago at a very nominal cost.
You can download the single for 99c on http://www.amazon.com/Christmas-Isnt-Anymore-Harri-Kakoulli/dp/B00Q2YA0JO, itunes, Spotify and Google Play.
has already grown from three to seven SKUs based on three varieties--a sleep shot, two regular-strength energy shots and an extra-strength energy shot--and can now be found in close to 10,000 doors, including Family Dollar Stores and 99c Only Stores.
Reflected in 99c Only's net loss for the most recent quarter are
With colleagues at Pittsburgh's 99c Floating Theatre Festival and Philadelphia's Wilma Project (now the Wilma Theater), Arnoult helped build a pipeline of new work--and a community--emanating from the alternative theatres of the 1960s and '70s.