Podknife - Charm Pricing: Why Over 60% of Prices End in the Number 9 by Voice Marketing with Emily Binder

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Charm Pricing: Why Over 60% of Prices End in the Number 9

Podcast |: Voice Marketing with Emily Binder
Publisher |: Emily Binder
Media Type |: audio
Podknife tags |: Business,; Management & Marketing,; Technology,; Voice
Categories Via RSS |: Business,; Marketing,; Technology
Publication Date |: Mar 08, 2023
Episode Duration |: 00:04:44

The alluring thing about 99-cent pricing (known as charm pricing) is that it feels like a sale price. It's a game stores have played with us for decades. Learn about charm pricing, the anchor effect of a price ending in 9 or 99, and whether it's right for your product or service.

Topics:

Charm pricing: higher prices ending in a "9" will actually outperform lower prices – on the very same product (typically)
Vanity pricing for considered purchases (HNW or luxury goods)
5s are not good. $5000 is especially bad. #anecdotal
How to know if your brand aligns with charm pricing or vanity pricing
Historic marketing inspiration story: the successful marketing strategy that launched the Chicago Daily News for 1 cent in 1875 even though there weren't enough pennies in circulation

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