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Sandip Kaur
Hey I am on Medial • 1y
The Psychology of Pricing: How to Set Prices That Sell Pricing isn’t just about numbers; it’s about psychology. Understanding how people think can help you set prices that not only attract but also convert. Here’s how: 1. The Power of “9”: Ever wonder why prices end in .99? It’s because people perceive $4.99 as significantly cheaper than $5.00, even though it’s 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 Isn’t Always Free: Offering something for “free” 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 you’ll not only attract customers but also make your offerings irresistible.
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