The Power of 9

[MM_Member_Decision isMember='false'] The incredible power of ending your price with a 9 is not a new concept.  In fact, it’s been around for more years than any of us can remember.  But does it really influence buying habits? This resource is only available to members. To read more, login or join now as a free member [/MM_Member_Decision]

[MM_Member_Decision membershipId='1|2|3|4'] The incredible power of ending your price with a 9 is not a new concept.  In fact, it’s been around for more years than any of us can remember.  But does it really influence buying habits?

According to a report in ‘Quantitative Marketing and Economics’ yes, it does.  It’s so powerful that, in their research, prices ending with a 9 were able to outsell the same product, even when it was priced lower.  This was not only by a small margin either.

The research found that when the same women’s dress was priced at both $35 and $39, the $39 dress outperformed the other by a whopping 24%.

MIT and the University of Chicago ran a similar experiment, but introducing a third price.  This time the options were $34, $39 and $44.  The $39 dress outperformed the other two, even the lower priced option.

Perhaps this is one of the cheapest and easiest strategies for bookkeepers to introduce, regardless of their method of billing. [/MM_Member_Decision]

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