Description
Click the article link - scroll to Tactic #1:
- Review as many tactics in the article as time permits and list at least two tactics you feel are most effective and explain why.
- List at least two tactics you do not find effective and explain.
- List a brand you are familiar with that relies heavily on "psychological pricing tactics" and explain if they do an effective or ineffective job.
Explanation & Answer
Attached.
Outline
Introduction
Body
Conclusion
References
Course Title
Student Name
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1
Psychological Pricing Strategies
Among the many tactics explained in the article, I find Tactic 1: Reduce the Left Digit by One,
and Tactic 7: Offer Payments in Installments as the two most effective tactics. Tactic 1 uses charm
pricing, which is a technique that ensures that the consumers' perceived magnitude of the price
reduces. For example, reducing the price of an item from $5.00 to $4.99 will make the consumers
to encode the ...
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