What are some psychological pricing tips when pricing products or services?

[aarkfeld]

I know there's an incredible amount of psychology behind pricing products and services.

We've all seen the $x.99 method our entire lives and I recently read about not pricing services as a round number such as $10,000. Apparently more specific numbers like $10,350 seem more legitimate, calculated and personalized.

Are there any other pricing tips and strategies that people have found effective in practice or through research? What's the thought process behind them?

[tlb]

See http://www.nickkolenda.com/psychological-pricing-strategies/, recently discussed at https://news.ycombinator.com/item?id=9501892

[aarkfeld]

Thank you! I didn't see that thread.