What is pricing psychology?
An example of an AI chatbot conversation about pricing psychology and its impact on consumer behavior.
What is pricing psychology?
Pricing psychology is the study of how prices affect consumer behavior and decision-making.
Can you give me some examples of pricing strategies?
Sure! Common strategies include charm pricing, price anchoring, and bundle pricing.
How does charm pricing work?
Charm pricing involves setting prices just below a round number, like $9.99 instead of $10, to make them seem lower.
Why is price anchoring effective?
Price anchoring works by presenting a higher initial price to make subsequent prices seem more attractive.
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