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Retailers Can Sell More By Increasing Price

by The Happy Rock on July 13, 2007

“Does that headline grab your attention? Well, it’s true. Retailers spend millions figuring out how our minds operate so that they can become more effective. As consumers it helps to examine some of the ways in which retailers are using research to hone their tactics. One such set of research deals with the role that the ending number in a price can have on consumers.”

That is the opening paragraph of a guest post on how prices can affect our spending. I wrote the post for FMF over at Free Money Finance while he is on vacation. If you haven’t visited Free Money Finance, check it out; he’s on my reader. FMF posts an astonishing amount of practical and helpful personal finance articles(usually 2 or more a day). Enjoy.

{ 2 comments… read them below or add one }

Abhishek Daaga July 15, 2007 at 3:21 am

Great Said friend… Human psycology is a very complicated subject & to understand it is to achieve Perfection in whatever we do.. & that is why many BIG companies spend millions to find out how can they convince their consumers without affecting their PROFITS…. this is how they become BIGGER by understanding their consumers & a direct war to their mindsets..

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The Happy Rock July 15, 2007 at 9:57 am

Abhishek Daaga,

You are right. Companies do spend millions, maybe billions, trying to understand their customer. It does benefit us to know the same information that they know.

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