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Sandip Kaur
Hey I am on Medialย โขย 1y
The Psychology of Pricing: How to Set Prices That Sell Pricing isnโt just about numbers; itโs about psychology. Understanding how people think can help you set prices that not only attract but also convert. Hereโs how: 1. The Power of โ9โ: Ever wonder why prices end in .99? Itโs because people perceive $4.99 as significantly cheaper than $5.00, even though itโs just a cent difference. 2. Anchor Pricing: Show a higher-priced option next to your main offer. This makes your primary product look like a great deal in comparison. 3. Bundle It Up: People love getting more for their money. By bundling products together, you can increase perceived value and drive more sales. 4. Free Isnโt Always Free: Offering something for โfreeโ with a purchase can boost sales, but it also sets expectations. Use it wisely to ensure it adds value rather than cheapening your brand. Pricing is an art and science. Get it right, and youโll not only attract customers but also make your offerings irresistible.
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