tag:blogger.com,1999:blog-1999115473222050072.post7592665166240622490..comments2023-04-10T19:25:59.747+10:00Comments on Gruen Transfer: ╠ 99c is more expensive than $1 ╣Tanniehttp://www.blogger.com/profile/04310628056570520730noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-1999115473222050072.post-1276467071151660232009-03-25T08:50:00.000+11:002009-03-25T08:50:00.000+11:00Yeah I think the being able to pay with a single c...Yeah I think the being able to pay with a single coin or note and not having to worry about change really does help as well.<BR/><BR/>I do believe that on higher priced items going down to cents can work up until a point for making it thought out, but as you pointed out especially with low down values, playing with prices is just an inconvenience.Tanniehttps://www.blogger.com/profile/04310628056570520730noreply@blogger.comtag:blogger.com,1999:blog-1999115473222050072.post-65045500911760329562009-03-24T22:43:00.000+11:002009-03-24T22:43:00.000+11:00Good point - I think this works for the value of a...Good point - I think this works for the value of a single currency value eg. $1, $2, $5 but not $3 or $4 - and this is exactly for what you said, the ease value. Today I had a $20 note. I was going to buy some rice paper rolls for $5.20 (which I was very much looking forward to) but opted for the less appealing wrap as it was a flat $5 - thus making the ease of transaction and storing change more appealing. Wierd... I know.Anonymoushttps://www.blogger.com/profile/08073352149787749818noreply@blogger.comtag:blogger.com,1999:blog-1999115473222050072.post-68963730627570445292009-03-24T20:33:00.000+11:002009-03-24T20:33:00.000+11:00Ah yes but one thing to remember about your superm...Ah yes but one thing to remember about your supermarket shopping is that you're asian and therefore 1c difference is the be all and end all to you. Sad and perhaps a slight exaggeration but there is truth in it.<BR/><BR/>As for Amaranth you guys did actually have a good point with that. I didn't argue that the psychological element wouldn't work. I was simply stating that you were cutting ROI too much for the value added psychologically.<BR/><BR/>I mean when you think about it you have to have 1 in 35 people be finicky enough for that $2 margin to make the difference for it to be worth it. Whilst 35 people is a lot...$2 is a really small amount to get finicky over. So yes you do have psychology on your side...but to be honest 69 is just as psychic as 68. In fact you'd probably get some people going there just because it's $69.<BR/><BR/>Psychology works best when you know your customers/attendees which Amaranth does not.Tanniehttps://www.blogger.com/profile/04310628056570520730noreply@blogger.comtag:blogger.com,1999:blog-1999115473222050072.post-49163167777130326232009-03-24T19:28:00.000+11:002009-03-24T19:28:00.000+11:00Well, it deprends. If I was walking down the stree...Well, it deprends. If I was walking down the street, not looking at anything in particular, my attention's probably caught more by a sign saying $1, than 99 cents... but if I'm walking down a supermarket isle, and shopping anyway, I already have a "price" mindset... if that makes sense. The mindset wherein I know I'm looking at prices. Hence, the 99 cents would catch my attention as being cheaper. (Not to mention in supermarkets it'd be displayed as 1.00, vs 0.99. As soon as I see the zero-point-something I think," Oh, that's cheap!" Whereas on the street you can just write $1, with a sharpie, which looks better than "99cents")<BR/><BR/><I>...people did not trust whole value items and perceived that having a non flat value down to the last cent appeared more thought on and therefore was a better price.</I><BR/><BR/>This was one of the thought processes that we went through, in deciding prices for Amaranth, actually. O.o; Not quite "exact cent," but, "exact dollar." A lot of thought went into the price, and we figured that potential consumers would also think that having such a non-flat figure would mean that we'd thought about the price thoroughly and ensured that those paying syndicate prices were getting the best value they could. And cents were just too messy to deal with. =/Anonymousnoreply@blogger.com