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The Price Length Effect

 

DisciplinesMarketing > Pricing > The Price Length Effect

Description | Example | Discussion | See also

 

Description

Prices that are physically longer can seem higher than prices are physically shorter. For example:

  • 99 may seem much less than 100
  • 50 may seem less than 50.00
  • 10K may seem less than 10,000
  • 10000 may seem less than 10,000
  • 'One five five' may seem less than 'One hundred and fifty five'

Note in how this can appear with different length effects such as leaving off decimal values and the audible length when prices are read out as the full number (or even just speaking the digits).

Example

A retailer prices reduces the price of an item from $19.99 to $19 and sells a surprising amount more.

A person selling a house for $534,000 speaks the amount as 'five three four', with an assumption of thousands.

Discussion

When price perception and length have some correlation, this seems to be a case of 'bigger equals more', or where 'more time in perceiving' equals 'more money'. This can happen both visually and aurally.

This can act to reduce the 99 effect, where adding a '.99' ending positions the price beneath a significant boundary. This can have a particular effect at higher prices, where the '.99' is effectively trivial and might even be an annoyance.

See also

The 99 Effect

 

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