The alluring thing about 99-cent pricing (known as charm pricing) is that it feels like a sale price. It's a game stores have played with us for decades. Learn about charm pricing, the anchor effect of a price ending in 9 or 99, and whether it's right for your product or service.
Topics:
- Charm pricing: higher prices ending in a "9" will actually outperform lower prices – on the very same product (typically)
- Vanity pricing for considered purchases (HNW or luxury goods)
- 5s are not good. $5000 is especially bad. #anecdotal
- How to know if your brand aligns with charm pricing or vanity pricing
- Historic marketing inspiration story: the successful marketing strategy that launched the Chicago Daily News for 1 cent in 1875 even though there weren't enough pennies in circulation
ThinkersOne videos:
Buy a personalized video greeting for your team or a Zoom drop-in or keynote on ThinkersOne:
Rate / review / subscribe to this show as a podcast or Alexa Flash Briefing: emilybinder.com/podcast
Follow me/connect:
My website | LinkedIn | Twitter | Instagram | TikTok | YouTube | Get email updates
Hosted on Acast. See acast.com/privacy for more information.
Popular Podcasts
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.
Therapy Gecko
An unlicensed lizard psychologist travels the universe talking to strangers about absolutely nothing. TO CALL THE GECKO: follow me on https://www.twitch.tv/lyleforever to get a notification for when I am taking calls. I am usually live Mondays, Wednesdays, and Fridays but lately a lot of other times too. I am a gecko.