Here's a couple of interesting posts about pricing:
Why Do Prices End in .99?
A typical bookshop will experience a certain amount of shoplifting,
especially of products as tempting as my book. Nobody is better placed to
benefit from shoplifting than the shop assistants.
If books — or any products — were roundly priced at £10, £15 or £20, then
customers would frequently offer the correct change. In such cases it would be
simple for the shop assistant to bag the item without ringing it through the
till, and to pocket the cash.
And another: Brevity is Best
Consumer researchers know that people are terrible at remembering store
prices: two seconds after taking a product from a shelf, the average person has
roughly a 50 percent chance of remembering how much it cost. But few researchers
have examined why some prices are more memorable than others.
According to a new study, it is a matter of syllables. Each extra syllable in
the price reduces the chances of it being recalled by 20 percent, according to
the study, which will be published in the September issue of The Journal of
Consumer Research [JCR]. In other words, someone faced with a $77.51 camera
(eight syllables) and a $62.30 bookshelf (five syllables) is about 60 percent
more likely to forget the camera’s price than the bookshelf’s, after half a
minute.
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