Odd-Even Pricing Definition. What is Odd-Even Pricing? Odd-even pricing is a pricing strategy involving the last digit of a product or service price. Prices ending in an odd number, such as $1.99 or $78.25, use an odd pricing strategy, whereas prices ending in an even number, such as $200.00 or 18.50, use an even strategy.
How Odd-Even Pricing Works In Retail. Even though the price is $19.99, people still think it is cheaper than $20.00. A bit of a conundrum I know, but the facts still say pricing in odd numbers is the best strategy. One of the latest technologies to come into the retail market is digital price tags.
Definition And Examples. Odd-Evening Pricing Example . A $20 item marked perceivably cheaper as $19.99 . Deeper Insights Into Odd-Even Pricing . Odd-even pricing is a pyschological pricing strategy involving the last digit of a product or service price, in the belief that certain prices or price ranges appeal to a certain set of buyers.
Odd Even Pricing And Its Application In Marketing. Odd even pricing is extremely common to find these days and is being used widely. Many producers have started using this for a range of products. Some shops that give out discounts to their customers are also using this technique. Odd-Even pricing technique prices products at an odd number.
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What Is Odd Even Pricing? Definition And Meaning. odd even pricing: Psychological pricing method based on the belief that certain prices or price ranges are more appealing to buyers. This method involves setting a price in odd numbers (just under round even numbers) such as $49.95 instead of $50.00. Originally, this practice was meant to prevent pilfering of cash by forcing a cashier to open
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