1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

What's up with 97?

Discussion in 'BlackHat Lounge' started by IMNiklas, Aug 28, 2013.

  1. IMNiklas

    IMNiklas Junior Member

    Joined:
    Jul 15, 2013
    Messages:
    112
    Likes Received:
    36
    Hi blackhatters!
    I've been wondering for a while what's up with 97? Most things relaterad to IM cost $97 or $197 etc. Why? What's so special about it? Thanks in advance :)
     
    • Thanks Thanks x 1
  2. Untouchable

    Untouchable Supreme Member

    Joined:
    Mar 22, 2012
    Messages:
    1,345
    Likes Received:
    1,173
    Location:
    Canada
    Its a psychological trick. It makes you think its cheaper when it obviously isnt.
    Its used every, supermarkets, gaming stores,etc.
    All either 97 or 99.
     
    • Thanks Thanks x 2
  3. verilix

    verilix Jr. VIP Jr. VIP

    Joined:
    Sep 18, 2009
    Messages:
    2,879
    Likes Received:
    1,277
    Yeah. $93 is far too cheap. Also doesn't look as catchy.
     
  4. saber210

    saber210 Supreme Member

    Joined:
    Sep 1, 2011
    Messages:
    1,358
    Likes Received:
    500
    Location:
    -
    Yes, It makes you think that the product is cheap.

    Like $99, $97, $990 and etc,
     
  5. IMNiklas

    IMNiklas Junior Member

    Joined:
    Jul 15, 2013
    Messages:
    112
    Likes Received:
    36
    Ok xD I know that, but it's never $99 here like in the real world. Thanks for the answers :)
     
  6. The Scarlet Pimp

    The Scarlet Pimp Jr. VIP Jr. VIP Premium Member

    Joined:
    Apr 2, 2008
    Messages:
    787
    Likes Received:
    3,117
    Occupation:
    Chair moistener.
    Location:
    Cyberspace
    reminds me of the sears catalog: "gifts under $20."

    desk lamp - $19.99
    solar radio - $19.98
     
  7. Goal Line Technology

    Goal Line Technology Senior Member

    Joined:
    Dec 30, 2011
    Messages:
    929
    Likes Received:
    2,157
    Well in Marketing we tend to focus on the 4 P's of Product, PRICE, Place, Promotion.

    The Psychological pricing or price ending or charm pricing is a marketing practice based on the theory that certain prices have a psychological impact.

    The retail prices are often expressed as "odd prices": a little less than a round number, e.g. $19.99 or £2.98.

    Consumers tend to perceive “odd prices” as being significantly lower than they actually are, tending to round to the next lowest monetary unit.

    Thus, prices such as $97 is associated with spending $xx rather than $100.

    The theory that drives this is that lower pricing such as this institutes greater demand than if consumers were perfectly rational.

    Psychological pricing is one cause of price points.

    If you really want to know more about this aspect of Marketing, then read these 2 articles
    Code:
    http://blog.kissmetrics.com/5-psychological-studies/
    Code:
    http://www.cbsnews.com/8301-505144_162-41541822/pricing-psychology-7-sneaky-retail-tricks/
    Good Luck :)
     
    • Thanks Thanks x 1
  8. Smart SEO

    Smart SEO Senior Member

    Joined:
    Apr 17, 2011
    Messages:
    857
    Likes Received:
    759
    Location:
    Google HQ
    I actually find double digit numbers to convert better such as $55 or $88.
     
  9. Black.Star

    Black.Star Junior Member

    Joined:
    Oct 4, 2011
    Messages:
    185
    Likes Received:
    1,028
    Occupation:
    IT security specialist
    Location:
    Europe
    7 is the new 9