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EBK MARKETING
9th Edition
ISBN: 9780134292786
Author: Stuart
Publisher: YUZU
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Chapter 10, Problem 15QA
Summary Introduction
To explain: The psychological aspects of pricing.
Introduction: For customers, price is not only an amount which is being paid for a commodity or a service rather this single term has many different meanings. The customers often associate higher price to good quality and lower price to cheaper quality. Such
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Students have asked these similar questions
Explain these psychological aspects of pricing: price quality inferences, odd-even pricing. internal reference price. price lining, and prestige pricing.
Retailers often use psychological pricing as a price-adjustment strategy. Explain this pricing strategy. How do reference prices affect psychological pricing decisions?
Describe price skimming and penetration pricing. What types of new products would be best suited to price skimming? What types of products will be most successful with penetration pricing?
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