Even pricing
Even pricing is a pricing strategy where prices are set at a whole number or round figure. This pricing technique is used by businesses to make pricing appear more appealing and easier for customers to understand. It is believed that pricing products at even numbers can create a perception of simplicity and transparency, leading to higher sales.
For example, instead of pricing a product at $9.99, a business using even pricing would round up to $10.00. This can make the price seem more straightforward and trustworthy to customers.
Some common examples of even pricing include $5, $10, $20, $50, and $100. These round figures are easy for consumers to process and can help drive sales for businesses.
Overall, even pricing is a popular strategy in retail and can be an effective way to attract customers and increase sales.
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