Take into account different variables about your business that are directly related to what is known as cognitive biases and that directly affect your psychological pricing structure and will undoubtedly affect your sales and the margin you obtain from them:
Buyer Persona
You need to know your buyer persona's age, purchasing power , sex, hobbies, etc. Based on this, you should set a price range or another.
Most likely you have a specific buyer persona and therefore you south africa consumer email list must adjust to it, although perhaps you have a somewhat broader buyer persona like the one a supermarket may have, and you have to set prices thinking of a more generic public.
Quality or bargain?
What type of product or service do you sell? If it is a high-end product, exclusive, handmade, new, etc., use prices with round numbers, without decimals : €4, €6, €20, €100, €250, €1,000…
However, if you want to convey a sense of opportunity, of a bargain, to encourage immediate purchase and for a less select public, add decimals. As you already know, the ones that work best are those ending in 95 and 99. For example: €2.99, €4.95, €12.99…
Before choosing the prices for your product you have to
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tmonower957
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