Psychological pricing tricks are a powerful tool for businesses to encourage customers to purchase their products and services. By understanding the way people think and behave when making decisions, businesses can use pricing strategies to influence customers and increase sales. From a management perspective, psychological pricing tricks can help to facilitate the purchasing process by creating urgency, increasing perceived value, and creating perceived savings. This video will critically discuss how psychological pricing tricks can be used to facilitate the purchasing process from a management perspective. It will explore how businesses can use tactics such as price anchoring, odd pricing, and bundle pricing to influence customers and make sales. Ultimately, this video seeks to demonstrate that psychological pricing can be a valuable asset in the management of a business.
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