Question

ABC company price the product as of RS.19.99 instead of Rs.20. which of the following pricing techniques is ABC company using
a: premium pricing
b: Deceptive pricing
c: psychological pricing
d: Dodging pricing​

Answer 1

Answer:

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Answer 2

Ans: (C) Psychological pricing

ABC company price the product for ₹19.99 instead of ₹20 using the pricing techniques known as psychological pricing.

• Psychological pricing is the application of setting prices a bit lower than a whole number.

• This practice is based on the idealogy that customers do not look at these figures as round-ups.
• They only tend to look at whole numbers and ignore the decimals.
• They treat these prices lower than they actually are.
• Buyers tend to assume a price from the left-most digit to the right.
• They tend to ignore the last few digits of a price.
• The fractional or the decimal portion is also generally printed smaller than the font in which whole numbers are printed.