95.0k views
5 votes
__________ encourages consumers to make purchases based on emotion, rather than rational considerations about the price.

User Pushpa
by
8.0k points

1 Answer

4 votes
Psychological Pricing encourages consumers to make purchases based on emotion, rather than rational considerations about the price.

The most common way markets do this, is by pricing a product in a way that makes it look like it's on sale, or significantly cheaper, though it's not. This has happened to me before in a grocery store, I noticed the price was reduced from $2.89 to $2.79 and even though it's only a $0.10 difference (that I am aware of now) at the time I believed it was a larger difference. Retailers are able to tug at consumers emotions by having BOGO sales as well.
User Piotr Labunski
by
7.8k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.