Psychological pricing is a pricing strategy approach to setting prices that aims to influence consumer perception and behavior. It involves tactics like setting prices just below a round number (e.g., $9.99 instead of $10) to make products appear cheaper.

Psychological pricing (also price ending or charm pricing) is a pricing and marketing strategy based on the theory that certain prices have a psychological impact. In this pricing method, retail prices are often expressed as just-below numbers: numbers that are just a little less than a round number, e.g. $19.99 or £2.98. [ 1 ]

What is psychological pricing? Psychological pricing is a pricing strategy that takes advantage of the psychological tendencies of consumers to influence their perception of a product’s value. It involves setting prices that are just below a round number, such as $9.99 instead of $10, to make the product appear more affordable and appealing.

Psychological pricing is a pricing strategy that impacts the consumer's subconscious mind, including pricing the goods and services slightly lower than a whole number. For instance, in the retail store, let’s say a commodity's price is $99 instead of $100.

2024年9月29日 · Psychological pricing is a marketing strategy that leverages consumer psychology to influence purchasing decisions by setting prices that appear more attractive.

2024年5月8日 · Psychological pricing offers a powerful yet nuanced approach to influencing customer behavior and driving sales growth. This comprehensive guide equips you with a valuable toolkit of strategies, from price anchoring and bundling to decoy pricing and effective price presentation.

2024年9月27日 · Psychological pricing encompasses a set of strategies that businesses use to influence consumer behavior and purchasing decisions through subtle pricing techniques. These tactics exploit various cognitive biases and psychological factors to create perceptions of value, affordability and prestige.

2025年1月16日 · Check out Everything You Need to Know About Implementing Value-Based Pricing. How Does Psychological Pricing Work? The science of psychological pricing is rooted in behavioral economics and cognitive psychology. Consumers perceive value differently based on how prices are presented. Take the classic example of $4.99 versus $5.