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  2. Psychological pricing - Wikipedia

    en.wikipedia.org/wiki/Psychological_pricing

    Psychological pricing (also price ending or charm pricing) is a pricing and marketing strategy based on the theory that certain prices have a psychological impact. In this pricing method, retail prices are often expressed as just-below numbers: numbers that are just a little less than a round number, e.g. $19.99 or £2.98. [ 1]

  3. Pricing - Wikipedia

    en.wikipedia.org/wiki/Pricing

    Pricing is the process whereby a business sets the price at which it will sell its products and services, and may be part of the business's marketing plan. In setting prices, the business will take into account the price at which it could acquire the goods, the manufacturing cost, the marketplace, competition, market condition, brand, and ...

  4. Pricing strategies - Wikipedia

    en.wikipedia.org/wiki/Pricing_strategies

    Pricing strategies determine the price companies set for their products. The price can be set to maximize profitability for each unit sold or from the market overall. It can also be used to defend an existing market from new entrants, to increase market share within a market or to enter a new market.

  5. Mental accounting - Wikipedia

    en.wikipedia.org/wiki/Mental_accounting

    Mental accounting (or psychological accounting) is a model of consumer behaviour developed by Richard Thaler that attempts to describe the process whereby people code, categorize and evaluate economic outcomes. [ 2] Mental accounting incorporates the economic concepts of prospect theory and transactional utility theory to evaluate how people ...

  6. Anchoring effect - Wikipedia

    en.wikipedia.org/wiki/Anchoring_effect

    Anchoring effect. The anchoring effect is a psychological phenomenon in which an individual's judgments or decisions are influenced by a reference point or "anchor" which can be completely irrelevant. Both numeric and non-numeric anchoring have been reported in research. In numeric anchoring, once the value of the anchor is set, subsequent ...

  7. Behavioral economics - Wikipedia

    en.wikipedia.org/wiki/Behavioral_economics

    Behavioral economics is the study of the psychological, cognitive, emotional, cultural and social factors involved in the decisions of individuals or institutions, and how these decisions deviate from those implied by classical economic theory. [ 1][ 2] Behavioral economics is primarily concerned with the bounds of rationality of economic agents.

  8. Threshold price-point - Wikipedia

    en.wikipedia.org/wiki/Threshold_price-point

    Threshold price-point. In economics, a threshold price point is the psychological fixing of prices to entice a buyer up to a certain threshold at which the buyer will be lost anyway. The most common example in the United States is the $??.99 phenomenon—e.g. setting the price for a good at $9.99. Though it is effectively ten dollars ...

  9. Psychic cost - Wikipedia

    en.wikipedia.org/wiki/Psychic_cost

    Psychic cost. A psychic cost is a subset of social costs that specifically represent the costs of added stress or losses to quality of life. [1] In managerial economics and marketing, psychic costs "measure the stress of having to think about a transaction". In the early 2000s, one of the important psychic costs are the "search costs" of ...