An electronics store introduces three new types of music players to its customers. Each of the new music players are priced at $99, $79, and $59. Which psychological pricing approach is the store using to price the music players?

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BlackTom AI · Accepted Answer

In this scenario, the store sets prices at 99, 79, and 59. 
Option a: 'providing pricing options' would imply offering a range of choices for customers to select from, but it does not explain why prices end in 9 or how that affects perception. This is a generic description of pricing strategy rather than a psychological pricing technique. 
Option b: 'validating the case for the number nine' explicitly points to the practice of ending prices with the digit 9 to influence perception. This is a classic example of charm pricing or price-ending in 9, where prices are set just below a round number (99 vs 100, 79 vs 80, 59 vs 60) to make them appear cheaper, leveraging a psychological bias. 
Option c: 'inviting price comparisons' would suggest an intention to encourage customers to compare prices against alternatives, which is not the primary rationale behind setting 99, 79, and 59; the adjustments are designed to look cheaper at a glance rather than promote comparison. 
Thus, option b best captures the psychological pricing mechanism at work, namely using prices that end in 9 to convey a lower price point, even though the term phrasing here is unusual.

An electronics store introduces three new types of music players to its customers. Each of the new music players are priced at $99, $79, and $59. Which psychological pricing approach is the store using to price the music players?

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