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Pricing model and promotion type, two extremely important parts of the marketing promotion, have become the focus of many marketers’ attention. In real life, various pricing models and promotion types are often utilized by wholesale dealers to influence the consumer purchase decisions. Therefore, a well-chosen pricing model and promotion type can bring about great sales performance and attract potential customers to buy. Since price plays a critical role in the planning and implementation of many marketing strategies, many companies adopt different price models in order to increase their sales volume and arouse consumer purchase intentions. One of the most common pricing models—odd pricing—shows that odd numbers such as nine are employed as price endings to influence consumers’ psychological perception of prices for products.
Previous literature on odd pricing focused mainly on whether an odd price could increase the sales volume of products or stimulate consumer demand, that is to say, they paid more attention to sales effect of products (Anderson and Simester, 2003; and Monroe, 2003). Stiving and Winer (1997), however, managed to understand the consumer attitudes towards price information by focusing their study on the consumers’ perception of odd pricing. Their findings suggested that consumers had the impression that odd price was lower than an even price.
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