psychological pricing

  

Definition

Setting prices according to the psychographics of the aimed-at market segment.

Use this term in a sentence

  • We engaged in psychological pricing as some people prefer certain numbers and associate those numbers with specific goods and services.

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  • You should try to use psychological pricing if you think that you can get a little more money and higher profits.

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  • They called us fools for using psychological pricing to value our DLC offerings; however, our business keeps expanding and theirs? They just ask us if we'd also like fries when we stop by their work.

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