i'm toying with rounding up or down some product prices (hopefully down, right? ) but i'm curious to know if that makes any sense to you guys. say $15.38 vs. $14.99, does that make a significant psychological difference during a purchase? please post freely, and thanks in advance for your input.

 

For me, I'm aware deep down about the $.99 thing. So it wouldn't work for me. (or maybe it'd still work??)

But for most people, $14.99 is certainly looks better than $15.01. How do I know?? I was like that at one point, until my GF "enlightened" me.

 

However, to me the $**.99 is associated with a low price, low quality product....I don't know why.

One example would be all the furniture comercials or car dealerships that YELL out the $*99 price deals on their furniture or cars.

On the other hand, the $15.38 price sounds like a "value" price to me. You are getting a decent product at an incredible value....


Am I making any sense?

 

[QUOTE]Originally posted by Luder94
[B]However, to me the $**.99 is associated with a low price, low quality product....I don't know why.

 

I think that's why things are priced $xx.99 because you can say something like "You too can own a brand new BMW M3 for under $50k!!!!" Then come to find out, it's $49,999.99. Well hell, I'd rather pay $50k.... hehe


BTW, do you mind being a consultant? Just wondering what my search scope is.

 

[QUOTE]Originally posted by shingles
[B]I think that's why things are priced $xx.99 because you can say something like "You too can own a brand new BMW M3 for under $50k!!!!"

 

Differences in prices of that small of a percentage have no meaning to me ...

The trick that I always fall for is forgetting to add S&H into the price ...

Have fun,
Derek

 

[QUOTE]Originally posted by Luder94
[B]However, to me the $**.99 is associated with a low price, low quality product....I don't know why.

 

I don't feel ambitious enough to find a source for this, but it has been shown in many studies that a "typical" consumer would rather pay $19.95 than $20. I am not typical, I'm thinking "why not make it $20 so I don't get 6 cents back?" (20*1.05=21, 19.95*1.05=20.94). Also, for products that you are selling (I assume this is Import Development stuff?), people won't be comparison shopping much - if they want a part you have and you have it for $16, they won't go looking for someone who has it for $15.95. Some things to consider.

 

Good point. Very good point.