What are psychological prices
Have you ever wondered why a consumer is willing to pay more for certain items? Or why do we think that one item is superior to another simply because it is more expensive. None of these thoughts appear by chance, but are the result of a complex Neuromarketing strategy . Which is known as Prestige Price . Its operation is simple; It involves setting the value of the product above the usual market cost, in order to make the potential consumer believe that your item is better than that of the competition. This strategy is focused on capturing those consumers who feel identified with high purchasing power and high social status . Who will lean towards the product that has a prestigious price. But be careful, it is not as simple as applying a high price and waiting for sales to arrive.
Other psychological biases to take into account
Although we have mentioned the five most important and used psychological pricing strategies, we can also find many psychological Buy Cell Phone Number List biases used to set the sales value of products. Today we will present the three most common and effective: Size perception : Playing with the brain’s perception is a technique widely used in marketing. Displaying prices in small fonts, dividing the costs of several items into separate costs. Ending round prices with small numbers like two. Helps the brain better assimilate that the price is not that high. Fluency : Helping the brain process information makes you feel calmer, more relaxed, and more likely to buy. A good way to achieve this is with round prices , or showing the price in red . Pain when paying: Limiting the pain a consumer feels when making a payment can be the difference between getting a sale or not.
psychological pricing strategies what are
Psychological pricing is another technique in the wide world of Neuromarketing , a discipline that studies . Predicts consumer behaviors and reactions to common 1000 Mobile Phone Numbers marketing activities. If you are interested in discovering more about the fascinating field of encourage you to continue investigating these increasingly complex techniques on the Internet . In specialized channels. As well as to regularly follow our blog. Because it will not be the only time we talk about the topic. This consists of playing with brain perception, directly influencing our subconscious and altering the reality of the prices we find so that they are more economical .
