Psychological pricing involves
setting an initial low price to establish a new product in the market.
setting prices in uneven dollar amounts.
setting a limited number of prices for certain categories of products.
setting an initial high price to cover new product costs and generating a profit.
taking advantage of the fact that consumers do not always respond rationally to stated prices.

Question

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The Answer of Psychological pricing involves
setting an initial low price to establish a new product in the market.
setting prices in uneven dollar amounts.
setting a limited number of prices for certain categories of products.
setting an initial high price to cover new product costs and generating a profit.
taking advantage of the fact that consumers do not always respond rationally to stated prices.

Psychological Pricing Involves Setting an Initial Low Price to Establish a New Product