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market-farming - [Market-farming] 19.99 vs $20, deal vs quality

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  • From: "Beth Spaugh" <lists AT rhomestead.com>
  • To: "'Market Farming'" <market-farming AT lists.ibiblio.org>
  • Subject: [Market-farming] 19.99 vs $20, deal vs quality
  • Date: Sat, 4 Aug 2007 16:49:56 -0400

The following is an excerpt from some "almost spam" that I just got, but thought would interest folks:
 

Consider whether something is "inexpensive" or "cheap," "pre-owned" or "used." There are very subtle forces at work that marketers have been aware of for decades. Ask yourself why sometimes an item is $19.99 and sometimes it is $20. Lowering the price by a penny is purposeful, as it signals "discount" or "sale," and is designed to get your attention, to make you, on a more subconscious level, think you're getting a deal. However, if the seller wants to convey quality rather than discount, if he wants to create an impression of value, he leaves it at a nice round $20, because nice things aren't discounted.

 

(Just as an aside, if you've noticed that products on infomercials are nearly always $19.95, or broken up into payments of $19.95, it's because the general rule is that just about everybody's got an extra 20 bucks lying around. You get to the $25 or above range and people start to think about it harder.)

 

Beth Spaugh
Rehoboth Homestead
Peru NY
http://rhomestead.com

 





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