Pricing Psychology 101: How Small Nudges Can Mean Big Business The art of pricing is often shrouded in mystery, leaving marketers to wonder what tactics will entice their customers and drive sales.
However, research has shown that sometimes all it takes is a small nudge – a seemingly insignificant tweak that can have a profound impact on how people perceive value.
A 2007 study by Coulter and Coulter found that two groups of customers showed different perceptions of value when presented with advertisements for flights to Turkey.