Psychological discounting involves setting an artificially high price and then offering the product at substantial savings.

Name: Psychological discounting involves setting an artificially high price and then offering the product at substantial savings.
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Question

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Psychological discounting is a pricing strategy where a product is initially priced higher than its market value, and then offered at a discount to make the consumer perceive they are getting a good deal.

Psychological Discounting Involves Setting an Artificially High Price and Then