What are some pricing misperceptions you have fallen victim to?

Question

Question

Answer 1

Answer #1

Answer: Some of the Pricing misperceptions are

Price ending at 99 or 95, when price end at 95 or 99 people think the product is cheaper. for example, if the product cost $200 and if it's priced as $199 people will think that the product is within $100 dollars and makes them think it's cheap.
Advertisement showing product at less price but when purchasing the product; tax, service charge, and other charges are included.
Psychological pricing- The marketer will promote the product as a high-quality product so that people will be willing to pay a higher price for it, but actually the product will be of medium quality. Since people have a mindset that high- quality product has a higher price it will be easy to fool them.
Selling the product at a higher price just with the label as a limited edition. The product will be the same as the ordinary version but to increase the price they will mention as limited edition so customers think the extra price is for the limited version of that product.

Answer 2

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