A Study on Pricing Psychology in Fast-Moving Consumer Goods (Fmcg) In Chennai Area

Abstract The psychological pricing techniques employed in the FMCG industry and their impact on Chennai-area customer behavior are examined in this study. The study looks at a number of strategies, including package pricing, reference pricing, perceived value pricing, and charm pricing (e.g., ₹99 instead of ₹100). According to the study, psychological pricing has a big impact on consumers' decisions to buy, especially middle-class urbanites. The results provide marketers with information to improve pricing tactics in regional markets. The marketing of FMCG relies heavily on understanding customer behaviour. There are a number of elements at play here. In today's globalised society, consumers' wants and demands are constantly shifting. India's GDP benefits greatly from the fast-moving consumer goods (FMCG) industry. Therefore, it is important to monitor developments in customer preferences for FMCG items. The focus of this study is on how consumers' attitudes in price psychology and preferences towards fast-moving consumer goods (FMCG) affect their purchasing decisions. This paper shows that there is a strong relationship between location, product, price, promotion, and consumers' physiological and psychological.Although consumers are not even consciously aware of psychological pricing strategies, the strategies still have an effect on their buying behaviour. Based on the study, it is concluded that psychological pricing can be a strong weapon intheFMCG industry, and company’s inChennaican reap the advantagesof strategically implementing these practices to promote consumer interaction and raise sales.