Setting the price of a product in a way that will alter its perception to customers is known as ______.

Name: Setting the price of a product in a way that will alter its perception to customers is known as ______.
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Question

Quizplus · Accepted Answer

Psychological pricing strategies are designed to have a psychological impact on consumers, often making the product appear more attractive or affordable through the way its price is presented. This can involve tactics like pricing something at $9.99 instead of $10 to make it seem cheaper.

Setting the Price of a Product in a Way That