Two aspects of psychological pricing are the price-quality association and prestige pricing.

Name: Two aspects of psychological pricing are the price-quality association and prestige pricing.
Brand: Quizplus
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Question

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Psychological pricing refers to the use of pricing strategies to influence consumer perception and behavior. Price-quality association creates an impression that a higher price correlates with higher quality, and prestige pricing suggests that a higher price is indicative of exclusivity or luxury.

Two Aspects of Psychological Pricing Are the Price-Quality Association and Prestige