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Psychological pricing
Psychological pricing
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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 PriceIntelligently TM PSYCHOLOGICAL PRICING: WHERE’S YOUR HEAD AT?
  2. 2. Pricing Strategies PriceIntelligently TM Have you ever left the mall and realized you blew your budget?
  3. 3. Pricing Strategies PriceIntelligently TM Don’t worry it’s not your fault
  4. 4. Pricing Strategies PriceIntelligently TM Stores are psychologically designed to get you to spend money
  5. 5. Pricing Strategies PriceIntelligently TM On the bright side, you can use these tactics too!
  6. 6. Pricing Strategies PriceIntelligently TM Let’s go over 4 of the most common psychological pricing techniques
  7. 7. Pricing Strategies PriceIntelligently TM
  8. 8. Pricing Strategies PriceIntelligently TM Artificial Time Constraint: Create a sense of urgency to purchase
  9. 9. Pricing Strategies PriceIntelligently TM Make your product seem exclusive; play hard to get
  10. 10. Pricing Strategies PriceIntelligently TM
  11. 11. Pricing Strategies PriceIntelligently TM Charm Pricing: End your pricing with .99 to suggest a great deal
  12. 12. Pricing Strategies PriceIntelligently TM Conversely, whole dollar prices now imply great quality
  13. 13. Pricing Strategies PriceIntelligently TM
  14. 14. Pricing Strategies PriceIntelligently TM Innumeracy: Customers get confused by lots of numbers
  15. 15. Pricing Strategies PriceIntelligently TM They like “Buy One Get One Free” more than getting 50% off (they’re the exact same!)
  16. 16. Pricing Strategies PriceIntelligently TM
  17. 17. Pricing Strategies PriceIntelligently TM Price Appearance: Longer prices seem more expensive
  18. 18. Pricing Strategies PriceIntelligently TM Try shortening your prices to “24” instead of “$24.00”
  19. 19. Pricing Strategies PriceIntelligently TM Key to using these tactics is to be honest and transparent with your pricing
  20. 20. Pricing Strategies PriceIntelligently TM Pricing should leave both you and your customers happy!
  21. 21. Pricing Strategies PriceIntelligently TM Download our free e-book to stop guessing, and start pricing intelligently.
  22. 22. Pricing Strategies PriceIntelligently TM Download our free e-book to stop guessing, and start pricing intelligently.

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