The Psychology of Price | WBEZ
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Under the Influence

The Psychology of Price

This week in our Summer Series, we explore how we're all influenced by pricing. Like how the price of a bottle of wine has an enormous affect on how much you enjoy that wine. We'll analyze how restaurants design menus to steer you toward the most profitable dishes, and how retail stores use psychology to persuade you to spend more. We'll also explore the psychological power of the number "9" - how we're drawn to prices that end in "99 cents." And how we're willing to pay more for products that end in the number 9. Pricing has a lot more to do with psychology than straight math. It's all about marketing, and it's an eye-opening story.

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