5. Psychology Pricing - Deepstash

5. Psychology Pricing

5. Psychology Pricing

5. Psychology Pricing

Psychological pricing is a pricing and marketing strategy based on the theory that certain prices have a psychological impact. Marketers encourage customers to respond on emotional levels rather than logical ones.

For example, setting the price of a watch at $199 is proven to attract more consumers than setting it at $200. The goal of psychology pricing is to increase demand by creating an illusion of enhanced value for the consumer.

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