Value Pricing—A Possible Marketing Strategy for the Holiday Season
August 15, 2008 at 5:13 pm | In Business Ideas, Marketing | | Get this via emailI just read about an interesting research study which found that value-oriented customers perceive some products to have more value when presented with prices that end in the number "9" vs. those with "0" price endings. But a while back I did a blog post about a research study that found that perceived value could be increased when numbers that end in "9" weren't used. So as a retailer, what are you to do, especially if you're trying to position your store as a mid- to high-end shop?
During healthier economic times, I'd suggest sticking with prices that end with "0." However, in light of the fact that everyone seems to be looking for a bargain nowadays you might consider doing some price testing this fall and holiday season, particularly with smaller impulse items.
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