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Psychological Tricks For Pricing
Do you ever trace your steps to what led you to buy something?
Why is it that when we walk into a store and look for something to buy, we’re drawn to certain advertisements or prices? As a consumer, perhaps you’re caught up in the moment — concerned with how much you want to buy something. But what you probably don’t realize, is that your favorite brands mesmerize you with some fascinating psychology tactics!
You see, there are some unique tactics for how businesses set their prices. Psychological pricing strategies tap into the way we look at a product and think about value and most of the time we don’t even notice these things.
For example, did you know that retailers may place a low price item next to luxury and middle tier options? This is done on purpose because they want you to look at the real price they want you to buy, as if it’s a deal.
This is simply one example highlighting the psychology behind pricing. In fact, there’s an entire slew of different ways retailers can cleverly craft a price. To help you learn more about how these psychological pricing tricks can help you boost your sales, continue reading the infographic Wikibuy created below.
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