Consumers are only human and think on both rational and emotional levels. The question is, in which situation are they thinking in which manner?
Psychological Pricing Strategies to Increase Sales
Establishing prices for your brand’s products and services can be a challenging task. The process of making a purchase is an emotional one. Simply calculating your cost, adding what you’d like to make on top of that and coming to a final price won’t cut it. You need to take into account the emotions of your buyers. That strategy is called psychological pricing.