Which of the following phrases accurately describes psychological pricing?
A) It is essentially the same as price shading
B) It is also called odd-even pricing
C) It is equally effective on all types of products
D) It is designed to aid the economy-minded purchaser

Question

Quizplus · Accepted Answer

Psychological pricing is also called odd-even pricing because it involves setting prices at odd or even numbers, which can affect how consumers perceive the price and make them more likely to purchase. It is not the same as price shading, which involves setting different prices for different customers, and it may not be equally effective on all types of products. While it may appeal to economy-minded purchasers, this is not its sole aim.

Which of the Following Phrases Accurately Describes Psychological Pricing