Pricing - higher grade gas and it didn’t come with a good...

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Psychological pricing is defined as a pricing approach that considers the psychology of prices and not simply the economics; the price is used to say something about the product. Three examples of psychological pricing from my own experience are: Name brand shoes such as: Nike, Addidas, Reebok, Timberlands, etc. I would never purchase a pair of shoes that’s cost less than $50 or that’s not from a well-known fashion designer because it would consider to be just plain cheap and would last very long. Payless shoe store would not be a store that I would go into to purchase a pair of shoe but now since I got older I’ve learned that I was paying for the name brand more than the quality of the shoes. I bought a BMW once because I thought it was a very luxurious car and it would last me for a very lone time. After having it for a year, I noticed that I spend more money on maintenance,
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Unformatted text preview: higher grade gas and it didn’t come with a good warrantee. Now you have American cars that cost a whole lot less, gives you better warrantee, better gas mileage, lower maintenance, and longer life span. I purchase a Sony plasma television about 2 years ago. Now, anyone that’s familiar with electronics knows that Sony is on top of the line brand. It wasn’t too long ago that I purchase another plasma TV for my bedroom, which is cheaper than my Sony far and it gives me the same picture quality that I receive from my Sony plasma. Once again, I still didn’t learn my lesson about researching the product to check for the quality; instead I thought that a more expensive product gives you better quality. I’ll try not to make that mistake again, but for some reason I think it’s going to happen....
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