Psychological Pricing Advantages & Disadvantages

Posted by Philip Huthwaite on July 3, 2023


Nobody needs to remind you that making an impact in the fast-growing eCommerce space is challenging. Not only are you constantly adapting to consumer sentiment changes, but you must also be aware of market trends and competitors’ pricing strategies.

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Topics: Psychological Pricing

The Power of Psychological Pricing

Posted by Moira McCormick on July 13, 2017

We are all in business to solve problems, add value and make a profit and one of the most important tasks involves pricing your product or service. What's a relatively easy way to effectively price your product or service to increase sales and make more money with little or no effort?

The answer is to use psychological pricing.  Psychological pricing is a pricing/marketing strategy based on the theory that certain prices have a bigger psychological impact on consumers than others.

Below are five psychological pricing strategies you could adopt.

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Topics: Psychological Pricing

5 Signs You're Smarter at Pricing Than You Think

Posted by Moira McCormick on September 6, 2016
Do you have any nagging doubts that you might not be getting quite the optimum price for your products or services?  Are you confident you always utilise your skills, expertise and know-how to squeeze out those extra profits for your business?
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Topics: Pricing, Dynamic Pricing, Smart Pricing, Psychological Pricing, Value-based Pricing, Product Oriented Pricing, Penetration Pricing

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