This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Why would you end a price in a 9 rather than a 1 or 3? What will be an ideal ... (Read 33 times)

rlane42

  • Hero Member
  • *****
  • Posts: 594
on: Aug 10, 2018
Why would you end a price in a 9 rather than a 1 or 3?
 
  What will be an ideal response?

Question 2

Why is psychological pricing important in determining your selling price on menu?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

matt95

  • Sr. Member
  • ****
  • Posts: 317
Reply #1 on: Aug 10, 2018
Answer to Question 1

Used primarily in fast food, ending in a 9 gives the restaurant maximum money in the selling price. With the customer being concerned with the left hand digit, .69 beings in more cash than .51 or .53.

Answer to Question 2

Through psychological pricing, the customer perceives a value. This method of pricing is prevalent in fast food but is also utilized in coffee shop pricing as well.


rlane42

  • Hero Member
  • *****
  • Posts: 594
Reply #2 on: Aug 10, 2018
Thank you!


matt95

  • Sr. Member
  • ****
  • Posts: 317
Reply #3 on: Aug 10, 2018
Always glad to help...


« previous next »
 

Did you know?

In most cases, kidneys can recover from almost complete loss of function, such as in acute kidney (renal) failure.

Did you know?

Parkinson's disease is both chronic and progressive. This means that it persists over a long period of time and that its symptoms grow worse over time.

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Did you know?

Your heart beats over 36 million times a year.

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

The Number of Children Americans Think Are Ideal The Number of Children Americans Think Are Ideal
What are examples of ideal forms? What are examples of ideal forms?
Under ideal conditions, a single cell of the bacterium E. coli would divide every 20 minutes to ... Under ideal conditions, a single cell of the bacterium E. coli would divide every 20 minutes to ...
The net price of an article is $79.84. What is the list price if a discount of 23% was allowed? The net price of an article is $79.84. What is the list price if a discount of 23% was allowed?
Your company advertises all prices on the menu board as a final price, including HST of 13%. A ... Your company advertises all prices on the menu board as a final price, including HST of 13%. A ...
Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price. Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.
Video: Female Reproductive System - Hormonal regulation (GnRH) الجهاز التناسلي للأنثى - التنظيم الهرموني

For a complete list of videos, visit our video library