Price

“Even small differences in price can signal product differences. Consider a stereo receiver priced at $300 compared to one priced at $299.99. The actual price difference is only 1 cent, but the psychological difference can be much greater. For example, some consumers will see the $299.99 as a price in the $200 range rather than the $300 range. The $299.99 will more likely be seen as a bargain price, whereas the $300 price suggests more quality.”  Marketing:  An Introduction, Chapter 9, pg.42, Kotler.  My pricing for my food truck is $9.99.  Specialty items like shirts and mixtapes will be priced at $11.00.  But buying the mixtape on iTunes will be significantly cheaper online because it will be a straight download to your computer.  It will range from $4.99 to $8.99 depending on the number of tracks listed for that particular mixtape.  “Some psychologists argue that each digit has symbolic and visual qualities that should be considered in pricing. Thus, 8 is round and even and creates a soothing effect, whereas 7 is angular and creates a jarring effect.”  Marketing:  An Introduction, Chapter 9, pg.42, Kotler.