September / October, 2011
Volume 70, Number 5, 2011/2012 OFFICIAL PUBLICATION OF THE MINNESOTA BEVERAGE ASSOCIATION www.municipalbev.com $9.99 The Power of “9” One Penny Does Make a Difference! CHANGE SERVICE REQUESTED SERVICE CHANGE PERMIT NO. 91770 NO. PERMIT TWIN CITIES MN CITIES TWIN PAID Minneapolis MN 55432 MN Minneapolis US POSTAGE US Box 32966 Box PRSRT STD PRSRT Municipal Liquor Store Liquor Municipal Statewide: 1-800-552-8711 Twin Cities: 952-854-8600 MUNICIPAL LIQUOR ON THE COVER STORE Check the prices: $9.99, $19.99, $99.99. The 9 is ubiquitous. So, why do so many Volume 70, Number 5, 2011/2012 prices end in 99, and does the one penny really make that much of a difference? Official publication of the Minnesota “For one penny, I can get you to think of it differently. If price matters, I can get Municipal Beverage Association. Published you to entertain our product,” said Mark Bergen, a Professor at Carlson School of six times annually: September/October, Management at the University of Minnesota. Bergen has researched pricing strate- November/December, January/February, gies, including the use of the 9 as a price cue. March/April, May/June, July/August. For advertising and editorial inquiry conact Some marketers call the concept “psychological pricing.” The idea is that instead Paul Kaspszak, Editor, Box 32966, Fridley, of thinking of $69.99 as a price of $70, you think of it as a price in the 60s. MN 55432. Phone 763-572-0222 or 866-938-3925. Advertising rates available upon request. Change of address: List both old “From a psychological perspective, you ground my attention to a digit that’s $10 and new address.
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