True. Odd pricing was first used as a cash management strategy to make cashiers make change.
What is odd pricing ?
- Unusual price. Also known as odd-even pricing, this type of psychological pricing involves setting prices a few cents or dollars below a round amount to give the impression that the price is low.
- Odd pricing was first used as a cash management strategy to make cashiers make change.
- By making minute tweaks to the pricing structure, odd pricing is a pricing strategy designed to maximize profit. It is predicated on the notion that consumers dislike doing math and will, as a result, only read the first few digits of a price while making a purchase.
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