Question

Which of the following is an example of a psychological pricing strategy? A. Promotional pricing B. Odd pricing C. Product line pricing D. Unit pricing Please select the best answer from the choices provided A B C D

Answer 1

B. Odd pricing

Odd pricing strategy means making the price end in an odd number such as $9.99

Answer 2

Correct Answer is B, Odd Pricing.

Step-by-step explanation:

Odd pricing is an example of Psychological Pricing Strategy.

Companies often use the psychological pricing strategy to attract customers. They use odd prices, near to the even ones to psychologically attract the customers. For example, Price of a shoe can be fixed at $79.99, which is near to $80. So customers psychologically feel comfortable while purchasing at $79.99 instead of $80.