it's a mental thing
people are more likely to buy it because it just seems more cheap
by Anonymous10 years ago
If I remember correctly from my marketing classes, there's something psychological about pricing which makes people avoid even numbers.
by Anonymous10 years ago
that could be
also:
5. **The 9 Factor**
"Prices ending in 9, 99, or 95 are called 'charm prices,'" says Poundstone. "Apparently, we've been culturally conditioned to associate 9-ending prices with discounts and better deals."
Also, because we read numbers from left to right, we encode a price like $7.99 as $7 - especially if we read too quickly. It's called "left-digit effect": "We encode it in our minds before we read all the digits," says Morwitz."
http://www.cbsnews.com/8301-505144_162-41541822/pricing-psychology-7-sneaky-retail-tricks/
by Anonymous 10 years ago
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