Is to boost sales of a product by creating demand. Doing this draws new customers and keeping the ones they already have
Psychological pricing uses price points to designate prices that help make the impression that the product exists less expensive than it is.
<h3>What is Psychological pricing?</h3>
Pricing, which can be a part of a company's marketing strategy, is the process by which a company determines the price at which it will offer its goods and services. Pricing is the process of determining the value that a manufacturer will receive in exchange for their goods and services. The producer uses a pricing strategy to make the cost of its products suitable for both the manufacturer and the consumer.
The use of pricing to sway a customer's purchasing decisions or spending patterns is known as psychological pricing. The objective is to satisfy a customer's psychological need, whether that need is to save money, invest in the best product, or receive a "good deal." A pricing and marketing technique known as psychological pricing is based on the idea that specific prices have psychological effects.
Hence, Psychological pricing uses price points to designate prices that help make the impression that the product exists less expensive than it is.
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Explanation:
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Listen in English
A deduction from adjusted gross income for yourself, your spouse, and qualified dependents is: an exemption. The Form 1040 is most helpful to a person who: itemizes deductions
Answer:
- Direct materials cost per equivalent unit: $196 per ton
- Conversion cost per equivalent unit: $57 per ton
Explanation:
Direct material cost per equivalent unit = Cost of direct materials transferred in/ Equivalent units for direct materials
= 588,000/3,000
= $196 per ton
Conversion Cost per equivalent unit = Conversion cost for the period / Conversion cost per equivalent
= 296,400/5,200
= $57 per ton
