Pricing Concept: Psychological Pricing

How to use small, incremental, inexpensive actions to achieve significant economic outcomes through the psychology of consumer response.

At the core of behavioral pricing research is the contention that price can be considered a physical stimulus, much as light and sound. ― Lillian Cheng and Kent Monroe¹.

Many of the posts on the Pricing Conundrum pay a lot of attention to consumer response to prices and the underlying psychology behind it. Supporting this emphasis is a point-of-view and a…