Price

How the psychology of pricing affects our consumption habits, brand perception, and sales. Prices are a collective hallucination. Who determines the value of everything we buy: the seller or the buyer? A wide range of economic research suggests one thing is common: we are highly influenced when it comes to assigning values to products. A simple 9 at the end of a price or the word "sale" can change our decision-making. People used to download music for free when Steve Jobs convinced them it was worth paying for. How? By charging 99 cents. Prada and other luxury stores have some absurdly expensive items—just to make the other items in their catalog seem like a bargain. The new psychology of pricing determines the design of price tags, the format of menus, the types of discounts, "sale" ads, the layout of supermarket aisles, the size of packaging fonts, and much more. Prices are very subtle persuasive factors, but at the same time, they are extremely subjective and decisive for sales success or failure. With many current and interesting case studies, the book will be very useful for both marketing professionals and entrepreneurs.