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An electronics store introduces three new types of music players to its customers. Each of the new music players are priced at $99, $79, and $59. Which psychological pricing approach is the store using
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26 votes
26 votes
An electronics store introduces three new types of music players to its customers. Each of the new music players are priced at $99, $79, and $59. Which psychological pricing approach is the store using to price the music players

User MoritzLost
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1 Answer

12 votes
12 votes

Answer: The case of the number nine

Step-by-step explanation:

Studies have shown that the human brain prefers to buy things whose prices end with the number 9 as opposed to zero such as 10 or 100.

The brain apparently interprets the number 9 at the end of a price to mean that the person is saving money and getting better value by buying the product. In making all three prices end in nine, the electronics store is using this psychological pricing strategy.

User John Lemberger
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