ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Three Delusive Psychological Pricing Tricks That Work Ninja

Updated on December 1, 2011

Pricing can sometimes be a frustrating issue to business owners, in fact, pricing, as a part of the marketing mix, has been confirmed to be the biggest mistake most companies make, pricing is one important decision to be made.

If a product has been priced wrongly, the results could be devastating, not only will you be leaving loads of cash on the table, but you will even lose your brand's trust and credibility, these things cannot be risked!

Below are three sneaky pricing tricks that are test-proven and supported by psychology:

#1) $8 for 8

Sounds familiar? You might be able to see one of these promotion techniques in supermarkets, it's basically a smarty-pants form of advertising $1 for 1, so what's the trick here? Instead of saying $1 for 1, expand the ratio to something like $10 for 10 or $25 for 5.

Consumers often get a little confused with the maths here, and the psychology behind this causes them to think this is a great discount or a good deal of some sort.

In some cases, consumers believe they have to purchase 10 items to get the deal, so they end up buying more than you would expect.

Of course, this trick doesn't work in all scenarios such as selling high end products like perfumes or jewelery, it will backfire terribly.

#2) Dollar Sign Elimination

As the title says, you should eliminate the dollar sign, can you guess why?

You probably know it. The reason is to eliminate all signs of expenses away from customers, your goal is to make your customers focus more on the goods and products, rather than the money they have to spend.

It works simply because money is out of their attention, they are more attracted to what you provide or offer, in other words, customers first, money second.

There are restaurants in the world that in their menus, never use the dollar $ symbol, but actually three dots “...”, weird but effective, obviously, this trick is industry-specific, meaning you can't use it in all situations.

#3) Simple Math

You know the popular odd pricing strategy, right? Using $9.99 rather than rounding it up to a full $10, just this little tweak could improve sales up to 24%.

However, some companies just totally overdo it, they don't realize the fact that not everyone likes math.

By all means, simplify your prices, for example, if a price was $10 and you've decided to give it a little discount to boost up your sales, then reprice it with $8 as a whole number and not $7.98, why? Because it causes confusions to your customers.

Just imagine how annoying it would be for someone to look through their expenses on the receipt. Researches have shown that by making your numbers more calculation-friendly, people are more likely to purchase the particular product, it's called computation fluency.

Ninja Plan

  • Utilize the $8 for 8 trick

  • Remove the dollar sign in appropriate situations

  • Be math-friendly and simplify your prices

Bear in mind that these tactics, as I have said earlier, do not work in all industries, before you decide to use one, make sure you know your target audience and whether they would be comfortable with the changes or not.

Want Pricing Strategies?

Did you know that using psychology can help increase sales up to a whopping 45%? Learn more about the famous "$9.99" fractional pricing strategy.

If you are indeed a business owner who sets prices...

Did you know that pricing is the biggest mistake most business owners make?

In fact, you guys are leaving loads of money on the table, thousands if not, millions of potential profits untouched.


Submit a Comment

No comments yet.


This website uses cookies

As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at:

Show Details
HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
LoginThis is necessary to sign in to the HubPages Service.
Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
AkismetThis is used to detect comment spam. (Privacy Policy)
HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
MavenThis supports the Maven widget and search functionality. (Privacy Policy)
Google AdSenseThis is an ad network. (Privacy Policy)
Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
Index ExchangeThis is an ad network. (Privacy Policy)
SovrnThis is an ad network. (Privacy Policy)
Facebook AdsThis is an ad network. (Privacy Policy)
Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
AppNexusThis is an ad network. (Privacy Policy)
OpenxThis is an ad network. (Privacy Policy)
Rubicon ProjectThis is an ad network. (Privacy Policy)
TripleLiftThis is an ad network. (Privacy Policy)
Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)