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 ?
Valeant didn't give an adjusted EPS figure, but he calculates its Q4 adjusted EPS at 98c, compared to his 99c estimate and consensus of 97c.
Motorists will have the chance to fill up their tanks at just 99c per litre at various Topaz stations.
Tenders are invited for Hiring Of Inspection Vehicle For Office Of Ee E, Iitped in connection with C/O Engineering Block 99B And 99C At Iit Delhi Including Water Supply, Sanitary Installations, Electrical Installation, Dg Set, Substation, Hvac, Fire Alarm, Fire Fighting System, Lifts And Ibms.
When using an AIO cooler, the load temp on the Pentium G3258 was 99C.
TRAFFIC problems broke out across the country yesterday morning as a petrol station firm slashed their fuel prices to 99c.
Scott Rupp's "A Savage Appreciation" ("Lands & Grooves," March/April), having acquired a saddle-weary 99C some years ago at a very nominal cost.
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
Koum also said that since WhatsApp began charging users a 99c yearly subscription fee in March, the company has not seen a decline in users:
To celebrate their birthday and to promote Read an eBook Week, they are putting all of our books on sale—all Kindle titles for just 99c.
Executive vice president Robin Herko and retail specialist David Scotto brokered the deal between landlord Trust of Anthony Scovotti and Fortune 99C.
A 99c iPhone application developed by an Indian firm, AHI Infotech, asks users to identify a cricketer's identity from close-ups of his face, and uses Australian cricketers' photographs, including that of Glenn McGrath, Steve Waugh and Shane Warne without their permission.