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Business 62 September | 2021 1 Prestige Pricing Explained as "the complete opposite of odd or charm pricing," this type of pricing involves making all numerical values into rounded figures. For example, when $99.99 is converted to $100 (or 100), consumers are more likely to make a purchase based on the appeal of rounded numbers versus non-rounded numbers, which are viewed as less visually appealing. 2 Comparative Pricing Entrepreneur asserts that this may be the most effective psychological pricing strategy. It involves "offering Examples to Enhance Sales In addition to the four types of psychological pricing off ered by Profi tWell, Entrepreneur magazine, located in Irvine, Calif., adds three more examples of psychological pricing that can have an aff ect on sales. two similar products simultaneously but making one product's price much more attractive than the other." As a "psychological game of choice" for customers, they must choose between two products that are similar but have different prices. Some consumers will automatically opt for the lower-priced option while others will assume the higher-priced item is of higher quality, has more or better features, or is simply better in some way. 3 Highlight Different Prices The theory here is that when you offer a sale with a previous (higher) price posted side by side with the new (sale/lower) price, you make more sales because customers feel they are getting a bargain and are not interested in researching the drop in price, according to Entrepreneur. In order to make the new pricing strategy work effectively, Entrepreneur suggests changing the font, size and color of the new price, which can increase the number of purchases because customers see the new price as cheaper and a better deal than the previous price. However, when employing this strategy, the pricing difference should be no more than $10. When you offer a sale with a previous price posted side by side with the new price, you make more sales because customers feel they are getting a bargain