Psychological Pricing

[abhishreshthaa]

Psychological pricing may be in the form of reference pricing or image pricing.


In reference pricing the marketers position and sell products at higher prices by endorsement of products by celebrities or placing products with classy products.


Another form of psychological pricing is image pricing.

This pricing is effective in case of ego sensitive products like cameras, sunglasses, cars, etc.

Since price acts as a signal of quality people prefer to buy expensive ones

 

[jiten005]

Psychological pricing may be in the form of reference pricing or image pricing.


In reference pricing the marketers position and sell products at higher prices by endorsement of products by celebrities or placing products with classy products.


Another form of psychological pricing is image pricing.

This pricing is effective in case of ego sensitive products like cameras, sunglasses, cars, etc.

Since price acts as a signal of quality people prefer to buy expensive ones

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