Many of us are aware of the marketing strategies many consumer based organisations use when getting people to buy their products at selected price structures. The most common price structure used to win over competition is the number 99 which has been proven to increase sales but have you ever considered other pricing numerals which may be just as advantageous over your competition.
Numbers in pricing products are more than mere quantitative data and numbers also have psychological values which should never be underestimated when beating your competition.
Many people are religious around the world, certain numbers have a religious significance such as 12 for disciples and jurors and folklore.
The number 3 is associated with bad luck and the number 7 associated with being lucky. If you take these numbers into consideration when pricing your products or services you may tap into the psyche of the consumer and win sales by merely adjusting your prices accordingly.
The number 3 should be avoided, a recent study into price setting tested consumer products with different prices other than 3 which concluded that the prices which sold best were 495 and 295...
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