Sunday, October 26, 2014

It's All In Your Mind

          There are many things that go into setting an appealing price for things. There are psychological rules that many companies follow that make people believe that they are getting a better deal than they really are. These rules aren't known by most people, and most consumers don't realize that their minds are being tricked. 
         One of the most common rules that is implemented is that by leaving the comma out of  a large number, like $1000, it makes the number appear smaller at first glance. Take a look... $1000 vs. $1,000. When you first look, which number looks smaller to you? Another one of these pricing tricks is that when an item costs a dollar or less, it more appealing for the price to end in a 9, like .99 or .89. When an item is priced over a dollar, it is more appealing to have the price end in a 9 or go in increments of .50, like 9.99 or 9.50. When an item is priced over $100, it is best to keep the decimal out all together, and keep things to round numbers, like $115 instead of $115.00. All of these things make the customer believe they are getting a deal regardless of whether they actually are or not. So,next time you go shopping, pay attention to the price tag. It is saying more than you might think.

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