Answer:-
Psychological pricing is a marketing strategy that influences consumer behavior by setting prices in a way that makes them seem more appealing. A common example is pricing a product at $9.99 instead of $10, making it feel cheaper due to the left-digit effect. Other tactics include bundling products, using "buy one, get one free" deals, or creating a sense of urgency with limited-time discounts. Businesses use these strategies to encourage impulse buying and increase sales. By understanding how people perceive prices, companies can shape purchasing decisions without changing the actual value of the product. It’s all about perception!
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