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 40 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?

There are more sensory neurons in the tongue than in any other part of the body.

Did you know?

The lipid bilayer is made of phospholipids. They are arranged in a double layer because one of their ends is attracted to water while the other is repelled by water.

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

Did you know?

The U.S. Pharmacopeia Medication Errors Reporting Program states that approximately 50% of all medication errors involve insulin.

Did you know?

Only one in 10 cancer deaths is caused by the primary tumor. The vast majority of cancer mortality is caused by cells breaking away from the main tumor and metastasizing to other parts of the body, such as the brain, bones, or liver.

Alan Price - Poor People Alan Price - Poor People
A very light ideal spring stretches by when it is used to hang a 135-N object. What is the ... A very light ideal spring stretches by when it is used to hang a 135-N object. What is the ...
The price of rice in a small country is currently $6 per pound. In order to help low-income ... The price of rice in a small country is currently $6 per pound. In order to help low-income ...
The retail price of a packaged CD is $60.00, which includes a tax of 4%. What is the actual ... The retail price of a packaged CD is $60.00, which includes a tax of 4%. What is the actual ...
Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ... Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ...
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: Burn Animation

For a complete list of videos, visit our video library