If you look closely, you’ll see psychological pricing tactics all around you. Retailers like Amazon and Apple often price items just below a round number (e.g., $9.99 instead of $10.00); many retailers use bundled pricing like “BOGO” (buy one, get one) to make the...
If you’ve ever visited a store to purchase a heavily discounted product and picked up a few other items ‘while you were at it’, you’ve likely succumbed to a loss leader pricing and product strategy. A loss leader strategy involves selling a product or service at a low...
If you’ve visited a major city during a rainstorm, you might have noticed the prices for umbrellas sold by street vendors tend to rise when the rain falls. What started out with a $10.00 price tag may rise considerably during a rainstorm. This is an example of...
Bundling is a marketing strategy that includes selling multiple products or services as a single package at a discounted price. The goals of bundling include simplifying the purchasing process for your customer, encouraging customers to purchase additional products,...
