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Thread: Psychological pricing

  1. #1
    Registered ZigE's Avatar
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    Psychological pricing

    I did have a good google search on this, but there didn't seem to be definitive (reliable) answer, what would be best;

    $49, $49.95 or $50

    Alternatively does anyone have any specific research papers / pdf or something on this sorta stuff.

  2. #2
    Administrator Chris's Avatar
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    I use $49.95 because everyone else does it and I figure they would have done the research. Gas stations too are always .9 for prices.

    I know some places use the cents field for a code indicating how many times it has been discounted (99, 88, 77, 66, so 66 being the price has dropped 4 times).
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    agreed - I would just 49.95
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  4. #4
    Registered ZigE's Avatar
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    This is not at all scientific, but I did a quick google of xx.99 vs xx.95,

    Overall there is only a slight difference, but .99 just edging slightly ahead.

    7,060,000 for "$19.95"
    6,650,000 for "$19.99"

    4,940,000 for "$29.95"
    4,690,000 for "$29.99"

    3,200,000 for "$39.95"
    3,710,000 for "$39.99"

    2,940,000 for "$49.95"
    3,580,000 for "$49.99"

    1,680,000 for "$59.95"
    2,400,000 for "$59.99"

    1,360,000 for "$69.95"
    1,790,000 for "$69.99"

    1,250,000 for "$79.95"
    1,810,000 for "$79.99"

    1,260,000 for "$89.95"
    1,460,000 for "$89.99"

  5. #5
    Administrator Chris's Avatar
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    I remember reading a study once too that people have harder times adding in numbers like 7 and 3, so to trick them into thinking something is cheaper you want to do something like 117.53 instead of 119.95 or whatever.
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    There's definitely psychology behind prices. I believe I have a book on it somewhere, but I haven't read it yet.
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  7. #7
    Registered ZigE's Avatar
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    There are psychological motivated decisions behind everything

    Finding every way possible way exploit our decision making processes .. gota love it.
    Last edited by ZigE; 10-15-2007 at 06:13 AM.

  8. #8

  9. #9
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    I think it is at least somewhat important for people to see different prices. Sometimes they might think they are getting a deal because they only glanced and see a different price than $xx.95 or $xx.99.

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