This episode of Room 224 explores the psychology of pricing strategies, revealing how subtle numerical tweaks can significantly impact consumer behavior. From charm pricing's subtle nudges to the strategic use of the decoy effect in guiding customer decisions, explore how businesses use these tactics to turn curiosity into sales and how luxury brands use prestige pricing to denote exclusivity.
Room 224
The Price is Right: Exploring Psychological Pricing
This episode of Room 224 explores the psychology of pricing strategies, revealing how subtle numerical tweaks can significantly impact consumer behavior. From charm pricing's subtle nudges to the strategic use of the decoy effect in guiding customer decisions, explore how businesses use these tactics to turn curiosity into sales and how luxury brands use prestige pricing to denote exclusivity.
- Broadcast on:
- 27 May 2024