Richard McKenzie - Why Popcorn Costs So Much at the Movies and Other Pricing Puzzles [PDF]

Richard McKenzie – Why Popcorn Costs So Much at the Movies and Other Pricing Puzzles [PDF]

Type Business
Size 2.28 MB in 1 file(s)

Originally Posted by Goodreads
This entertaining book seeks to unravel an array of pricing puzzles from the one captured in the book’s title to why so many prices end with “9” (as in $2.99 or $179). Along the way, the author explains how the 9/11 terrorists have, through the effects of their heinous acts on the relative prices of various modes of travel, killed more Americans since 9/11 than they killed that fateful day. He also explains how well-meaning efforts to spur the use of alternative, supposedly environmentally friendly fuels have starved millions of people around the world and given rise to the deforestation of rainforests in Malaysia and Indonesia.
Contents:

Preface: Why Pricing Matters
1. Price and the “Law of Unintended Consequences”
2. Pricing Lemons, Views and University Housing
3. Why Sales
4. Why Popcorn Costs So Much at the Movies
5. Why So Many Coupons
6. Why Some Goods are Free
7. Free Printers and Pricey Ink Cartridges
8. Why Movie Ticket Prices are All the Same
9. Why So Many Prices End With 9

Just to satisfy your curiosity: Prices that end in 9 are called “odd pricing”. Not because the number itself is odd, but, for example, when people see something marked $9.99, they will see it as much less expensive than the same item priced at $10.00, even though the difference is only one cent. The other is called “even pricing”, which makes a product look more prestigious; that’s why expensive jewelry is almost always priced in even amounts, e.g. $100.00, $2500.00, etc. Then there are the restaurants, such as Legal Seafood here in the USA, who place a number to the left of the item, and the number is actually a price. For example: “25 Shrimp scampi”. The price is $25.00.

Marketing lesson over. There will be a quiz at the next class meeting.

Format: PDF
Length: 326 pages
Published: 2008 by Copernicus Book
ISBN: 0387769994


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