ECONOMICS
DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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charging wealthy customers higher prices than other customers
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charging high prices for status products
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using bait-and-switch pricing tactics
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pricing merchandise at $49.99 instead of $50
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Detailed explanation-1: -The idea behind psychological pricing is that customers will read the slightly lowered price and treat it as lower than the price actually is. An example of psychological pricing is an item that is priced at $3.99 but conveyed by the consumer as 3 dollars and not 4 dollars, treating $3.99 as a lower price than $4.00.
Detailed explanation-2: -The idea behind psychological pricing is that customers will read the slightly lowered price and treat it lower than the price actually is. An example of psychological pricing is an item that is priced $3.99 but conveyed by the consumer as 3 dollars and not 4 dollars, treating $3.99 as a lower price than $4.00.
Detailed explanation-3: -Based on discussions in class, which of the following IS NOT an example of psychological pricing? Cost-based pricing.
Detailed explanation-4: -’Charm pricing’: Reduce the left digits by one. This strategy, often called “charm pricing, ” involves using pricing that ends in “9” and “99.” ’Prestige’ pricing strategy. ’BOGOF’: Buy one, get one free. 8 Tips Introverts Need to Network Effectively in 2023. 21-Jul-2016