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.

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Psychological Pricing

  1. 1. Pricing Strategies PriceIntelligentlyTMPSYCHOLOGICAL PRICING:WHERE’S YOUR HEAD AT?
  2. 2. Pricing Strategies PriceIntelligentlyTMHave you ever left the mall and realized youblew your budget?
  3. 3. Pricing Strategies PriceIntelligentlyTMDon’t worry it’s not your fault
  4. 4. Pricing Strategies PriceIntelligentlyTMStores are psychologically designed to getyou to spend money
  5. 5. Pricing Strategies PriceIntelligentlyTMOn the bright side, you can usethese tactics too!
  6. 6. Pricing Strategies PriceIntelligentlyTMLet’s go over 4 of the most commonpsychological pricing techniques
  7. 7. Pricing Strategies PriceIntelligentlyTM
  8. 8. Pricing Strategies PriceIntelligentlyTMArtificial Time Constraint: Create asense of urgency to purchase
  9. 9. Pricing Strategies PriceIntelligentlyTMMake your product seem exclusive;play hard to get
  10. 10. Pricing Strategies PriceIntelligentlyTM
  11. 11. Pricing Strategies PriceIntelligentlyTMCharm Pricing: End your pricingwith .99 to suggest a great deal
  12. 12. Pricing Strategies PriceIntelligentlyTMConversely, whole dollar prices nowimply great quality
  13. 13. Pricing Strategies PriceIntelligentlyTM
  14. 14. Pricing Strategies PriceIntelligentlyTMInnumeracy: Customers get confusedby lots of numbers
  15. 15. Pricing Strategies PriceIntelligentlyTMThey like “Buy One Get One Free” morethan getting 50% off (they’re the exact same!)
  16. 16. Pricing Strategies PriceIntelligentlyTM
  17. 17. Pricing Strategies PriceIntelligentlyTMPrice Appearance: Longer pricesseem more expensive
  18. 18. Pricing Strategies PriceIntelligentlyTMTry shortening your prices to “24”instead of “$24.00”
  19. 19. Pricing Strategies PriceIntelligentlyTMKey to using these tactics is to be honestand transparent with your pricing
  20. 20. Pricing Strategies PriceIntelligentlyTMPricing should leave both you and yourcustomers happy!
  21. 21. Pricing Strategies PriceIntelligentlyTMDownload our free e-book to stopguessing, and start pricing intelligently.
  22. 22. Pricing Strategies PriceIntelligentlyTMDownload our free e-book to stopguessing, and start pricing intelligently.

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