Core Concepts of Marketing

PSYCHOLOGICALASPECTSOFPRICING 241

AD9.3 Winninganawardis a psychologicalaspectofp rice.

psychologicalimpactofoddpricesoncustomers.The ex planationis that customersper-
ceiveevenprice:>suchas$5or$1 0 a~regularprices. Oddprices,onth e otherhand,appear
torepresentbargainsorsavingsandtherefore encouragebuying.Thereseemstobesome
movementtowardevenpricing; however, oddpricingis stillverycommon.Asomewhat
relatedpricingstrategyiscombinationpricing.Examplesare two-far-one,buy-one-get-one-
free.ConsU'nerstendtoreactverypo~.itivelytothese pricing techniques.