Psychological pricing strategies encourage purchases to be based on economically rational responses rather than on emotional responses.

Question

Quizplus · Accepted Answer

Psychological pricing strategies are actually aimed at triggering emotional responses in consumers, such as using odd prices ($9.99 instead of $10) to imply a better value or using sale signs to create a sense of urgency. These strategies often appeal to the subconscious rather than rational thought processes.

Psychological Pricing Strategies Encourage Purchases to Be Based on Economically