The 5 major stages of psychological pricing
The main reason you own a business and operate it is to generate profits. The profit comes from the pricing – but how do you get good prices for your products when you have no idea how that is done? And once you set the prices, are they sufficient to cover the production costs and make you some revenue? How do you even price the product correctly, and are there certain rules you need to follow? Well, the answer is simpler than you may realize – and it all has to do with psychological pricing. This involves the belief that...