The psychological price of the sales object is that one gives the buyer the impression of being presented with an acceptable price, even if its advantage is only apparent or insignificant.
Among the most common psychological pricing practices, the following stand out:
Price for a fraction of the product and not the whole.
An example of this practice is the display of the price of $1.50 per 100 grams of cheese instead of $15.00 per kilo, as well as the disclosure of the cost of $1.00 per day for access to an online newspaper rather than the amount of $30.00 per month.
Gross price and discount instead of just the net price
This is the case with the announcement of the list price of a pair of slippers at $30.00, with an occasional discount of 30% as an alternative to using the net price of $21.00.
Slightly lower odd price replacing even price
This procedure is based on the fact that people read values from left to right and numbers on the left are more important, as in the following sample:
– $34.99 per printer cartridge instead of $35.00/unit.
Price of the offer components instead of just the total price
This type of approach aims to convey the idea that the price of the product itself is much lower and other components make it higher, as in the description below:
– Grass cutter price without tax = R$400.00
– Tax amount = $21.00
– Shipping cost = R$19.00
– Increase for installment sale = $23.50.
Product price alongside similar products at higher prices
This practice is more used in sales points with little or no intervention from the salesperson:
– Sale offer of A4 paper = $9.80/500 sheets
– Competitor B: A4 paper offer price = $10.50/500 sheets
– Competitor C: A4 paper offer price = $11.90/500 sheets
Price reduced of the main item with its add-ons prices increased
The prices of a travel tent and some accessories exposed below apply this stratagem:
– Travel tent = $90.00
– Sleeping bag = $60.00
– Portable chair = $40.00
Discount amount without mentioning the offer start and final price
In this case, the objective is to highlight and generalize the advantage offered regardless of the product offered or its starting or final price, as stated in the advertisement below:
– Mattresses entire line 20% off sale.
C. L. Eckhard, author of Pricing in Agribusiness: setting and managing prices for better sales margins.