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 34 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 ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

Did you know?

Of the estimated 2 million heroin users in the United States, 600,000–800,000 are considered hardcore addicts. Heroin addiction is considered to be one of the hardest addictions to recover from.

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

Effect of Perceived Price of a Drug on Placebo Analgesia Effect of Perceived Price of a Drug on Placebo Analgesia
Alan Price - Poor People Alan Price - Poor People
What are examples of ideal forms? What are examples of ideal forms?
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?
If CP for an ideal gas is 35.4 J/molK, which of the following is CV for this gas? If CP for an ideal gas is 35.4 J/molK, which of the following is CV for this gas?
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: Haustral churning, Gastrocolic reflex and mass peristalsis & Defecation

For a complete list of videos, visit our video library