Which of the following phrases accurately describes psychological pricing?
A)It is banned in most jurisdictions.
B)It is equally effective on all types of products.
C)It is also called odd-even pricing.
D)It is essentially the same as price shading.

Question

Quizplus · Accepted Answer

Psychological pricing is also called odd-even pricing, as it involves setting prices just below a whole number (odd) or just above a whole number (even) to create the perception of a lower price. This strategy is often used to make prices appear more attractive to consumers. None of the other options accurately describe psychological pricing.

Which of the Following Phrases Accurately Describes Psychological Pricing