Magic Numbers: Psychological Aspects of Menu Pricing

Lee M. Kreul

94 citations0/0 files storedCornell Hotel and Restaurant Administration Quarterly

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Consumer Market Behavior and Pricing Consumer Behavior and Marketing Influence Psychology of Social Influence

Abstract

Formula-based pricing strategies are more prevalent in the food-service literature than in restaurant operations, a study reveals. What are the magic numbers that stimulate sales—and why are restaurateurs more likely to employ "psychological" pricing techniques than formulas?

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1999The impact of price thresholds on profit contribution — Should retailers set 9-ending prices?2010Restaurant Profitability Management 2004Clustering in Real Estate Prices: Determinants and Consequences 1997The effect of odd pricing on demand 1999Consumer Savings in Complementary Product Bundles 1997The Widespread Use of Odd Pricing in the Retail Sector 2017Eastern versus Western Culture Pricing Strategy: Superstition, Lucky Numbers, and Localization 2007High‐low context cultures and price‐ending practices

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