Price affects our sales. A high price can both repel and attract a consumer (many people think that high quality means expensive). The same thing happens with low prices. Therefore, the theory of psychological pricing appeared.
Psychological pricing (also price ending, charm pricing) is a pricing and marketing strategy based on the theory that certain prices have a psychological impact. Retail prices are often expressed as "odd prices": a little less than a round number, e.g. $ 19.99 or £ 2.98. There is evidence that consumers tend to perceive "odd prices" as being lower than they actually are, tending to round to the next lowest monetary unit. Thus, prices such as $ 1.99 are associated with spending $ 1 rather than $ 2. The theory that drives this is that lower pricing such as this institutes greater demand than if consumers were perfectly rational.
Most people read numbers from left to right and ignore the decimal digits of a number because they consider them to be unimportant. Also, the decimal is perceived by people as a discount offer.
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