I don’t know about you, but I am not fooled when something is priced at $9.95. That always means it costs $10 to me. Frankly I wonder how many people are fooled by such psychological manipulation. Why did businesses first begin doing this? I’m sure some very serious market research went into what seems a nearly universal practice.
So how do I price my product?
I’ve run this question past both friends, family and business professionals. Based on what I heard, here’s what I’ve decided to do at least for now. For the full-box order, don’t mess with the few cents less. But for individual buyers the “few pennies less” price.
I guess old habits die hard.