Who would have thought that the sound of your selling price can strongly affect perception of your target customers. This very interesting study published in the Journal of Consumer research truly creates a noise in my mind.
“Phonetic symbolism affects price perceptions because consumers typically process, encode, and retain numbers (and hence prices) in memory in multiple formats,” the authors write. Consumers encode what a price looks like and sounds like along with a relative numeric value that the price represents (such as, “It is inexpensive”).
Continue reading Sound and pricing psychology