Did you know that when you are buying a product, the price tag you see is mostly psychological and actually science at work? The $9.95 price tag, instead of $10; the size of the number; the color; and so on.
The science aspect of pricing is even greater, especially in comparison shopping. When you consider several price plans when you are subscribing for a particular service online, you are dealing with strategic pricing.
Nothing personal, it’s just business.
You see, pricing science is there not to scam consumers; it’s there to help sellers make more sales using legitimate tactics. The premise is this: For the same product/service, you can get more sales when you are doing your homework really well.
To help you out, this infographic can give you some ideas on how becoming a pricing geek rocks:
Eye-opening!
Please note that, the above pricing tactics are not guaranteed to always work in any conditions. Depending on your niches and business strategy, pricing is often determined by totally different factors.
The best way is for you to take the tactics from the infographic and test, test and test for the best results.
