When a company attempts to influence a consumer's perception of price to make a product's price more attractive and reduce "sticker shock," it is using a ____ pricing strategy.
A) competition-based
B) professional
C) promotional
D) comparison
E) psychological

Question

Quizplus · Accepted Answer

A psychological pricing strategy attempts to influence a consumer's perception of price by using tactics such as reducing the "sticker shock" of a high price by presenting it in a more favorable way, such as by displaying it in round numbers, emphasizing discounts or savings, or using charm prices (ending in number 9).

When a Company Attempts to Influence a Consumer's Perception of Price