Psychological Pricing: 5 Discounting Tips and Tricks
Published on January 19, 2023
Psychological pricing can be a great tool to achieve higher price points and increase sales. But did you know that you can also incorporate behavioral science into your pricing strategies when it comes to discounting as well? Pricing expert, Peter Harms, discusses how reductions on regular prices can trigger emotional responses in customers.
It’s typically assumed that price increases will result in a tradeoff in sales volume. But what if companies could use psychological pricing techniques to raise their prices without sacrificing sales units?
Why use psychological pricing?
Psychological pricing is the science of making prices appear more attractive to customers by shaping the price…
