Pricing Strategies with a Purpose

So, it has been proven that using the dollar $$$$ signs, or even the word “dollars” before or after your retail price may actually deter your customers from making a purchase.

Marketing research and experimentation has shown a decrease in the likelihood of a purchase when  the “$” sign or the word “dollars” were placed next to a price. This could be on your menu, in a catalog, in an advertisement, on a price tag or on even on a website shopping cart.

It seems that the dollar $$$ is a symbol of cost, and not gain, not a good thing in these tough economic times. People don’t want to be reminded of their financial commitments and expenditures.

Read more about the “Zones of Seduction” in Time Magazine’s The Culture/Money section this week, November 7, 2011 and Monday Morning Marketing’s post here.

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