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¹ Kirkuk Polytechnic College, Northern Technical University, Mosul, Nineveh Governorate, Iraq
² Hawija Technical College, Northern Technical University, Mosul, Nineveh Governorate, Iraq

Asst. Prof. Dr. Sawsan Ibrahim Rajab
Roles: Conceptualization, Data Curation, Formal Analysis, Funding Acquisition, Methodology

MOHAMMED SATWAN AMHAMMED
Roles: Data Curation, Funding Acquisition, Methodology, Resources, Software

While contemporary marketing literature heavily emphasizes the paradigm shift toward consumer-centric strategies, the precise cognitive mechanisms underlying the interaction between psychological pricing and behavioral psychology remain theoretically fragmented. Extant research establishes that psychological pricing operates as a strategic behavioral tool designed to exploit consumer cognitive biases and stimulate prompt, low-involvement purchasing decisions. However, the efficacy of these strategies is not universally consistent, as consumer purchasing behavior is deeply bounded by economic volatility, informational paradigms, and distinct socio-cultural environments.

The Research Gap: A critical review of the literature reveals a significant conceptual and contextual gap. First, there are contradictory findings regarding whether psychological pricing triggers sustained brand loyalty or merely drives isolated, impulsive purchases. Second, most empirical models have been developed and validated within Western developed economies, leaving a theoretical limitation in how these behavioral heuristics manifest in emerging and transitional markets. Empirically, while localized retail entities—such as the Al-Salam chain stores in Kirkuk Governorate—intuitively adopt these tactical pricing mechanisms, there is a profound lack of empirical evidence explaining how and to what extent these psychological pricing dimensions systematically modulate or reshape consumer decision-making frameworks within this specific socio-economic context. Consequently, treating psychological pricing as a purely operational sales tool without deciphering its underlying psychological determinants creates a major disconnect between marketing theory and regional empirical reality.

The Central Research Question: Hence, this study addresses this theoretical and empirical void by investigating the following central question:

“How do alternative psychological pricing strategies systematically influence and predict consumer purchasing behavior frameworks within the distinct socio-economic context of the Iraqi retail sector, and what are the underlying behavioral mechanisms that mediate this relationship?”

Through researchers’ visits to Al-Salam chain stores in Kirkuk Governorate, it was found that although the chain’s management adopts psychological pricing, it is not fully aware of how this strategy influences consumer purchasing behavior. Psychological pricing is supposed to be their tool to achieve maximum sales and gain as many customers as possible. Hence, the study problem was identified through the following central question:

“Is there an effect of psychological pricing on consumer purchasing behavior?”

From this main question, several sub-questions arise:

The importance of this study stems from its two variables: psychological pricing is an important strategy for achieving organizational goals, while consumer purchasing behavior is one of the key aspects all organizations seek to study, analyze, and direct toward their products. In addition:

In light of the research problem and its importance, the study aims to achieve the following objectives:

Addressing the research problem in light of its theoretical framework and field implications requires designing a conceptual model, as shown in Figure 1, which illustrates the relationship and influence between psychological pricing strategy and consumer purchasing behavior.

The study is based on two main hypotheses, from which sub-hypotheses branch out as follows:

There is a statistically significant correlation between the psychological pricing strategy (at the overall level) and customer buying behavior (at the overall level) among the customers of the researched chain. From this emerge the following sub-hypotheses:

There is a statistically significant positive effect of the psychological pricing strategy (at the overall level) on customer buying behavior (at the overall level) among the customers of the researched chain. From this emerge the following sub-hypotheses:

The study adopted a descriptive-analytical approach. Its theoretical framework was built based on available relevant references, while its field component relied on a questionnaire as the primary tool for collecting and tracking data and transforming it into information. From this information, the researchers were able to deduce aspects that covered the reality of the variables adopted in the study plan. The questionnaire was designed for this purpose and used as a source for collecting data, which was then analyzed, yielding results that contributed to achieving the study’s objectives. The questionnaire was designed with clear and understandable items for the surveyed sample, and it was measurable so that the study variables could be measured in terms of structure and wording. A five-point Likert scale was used to measure the weight of the respondents’ answers. The items were (Strongly Agree, Agree, Neutral, Disagree, Strongly Disagree), with weights of (1, 2, 3, 4, 5) respectively. The tendency of respondents’ answers towards (Strongly Agree, Agree) indicates a state of agreement that reflects the availability of the variables’ dimensions, while (Neutral) indicates a state of agreement. To reflect a state of moderation, while “I disagree” and “I strongly disagree” express a state of disagreement. The responses of the chain’s customers in the research sample were analyzed using statistical tools, enabling the study to arrive at results that allowed it to offer a set of conclusions and suggestions that it hopes will be valuable to the chain’s management in its marketing efforts.

A: Introductory Overview of Al-Salam Retail Chain in Kirkuk Governorate

Al-Salam chain stores was established in Kirkuk Governorate in (2003). It has (10) branches, (4) of which are inside Kirkuk city, while the rest are distributed across the main districts of the governorate. These branches offer a wide variety of branded products from different origins, all of which relate to the essential needs of Iraqi families. A large number of customers frequent these stores due to the availability of diverse product lines that meet their needs and satisfy their desires.

All stores are managed by a Board of Directors that focuses on developing business plans and making the necessary decisions for the chain’s growth, sustainability, and profitability, thereby ensuring its continuity and strengthening its competitive position in the local Kirkuk market compared to other retail chains operating in the same governorate.

The stores employ a sufficient number of experienced and qualified sales staff who provide various services to facilitate customer access to products, in addition to offering necessary information about any displayed product when needed.

B: Description of the Study Population and Sample

The study population was defined as the customers shopping at the (4) branches of Al-Salam chain stores in central Kirkuk. For the purpose of distributing the questionnaire to shoppers, four employees were appointed and distributed across the four branches. Their task was to receive customers, explain the purpose of the questionnaire, and encourage them to participate by answering its items. However, they faced difficulty in convincing many shoppers because the majority of them did not want to participate by expressing their opinions, or because they did not understand their role in building future pricing strategies. Some made excuses by saying that they did not have enough time to participate. Only (400) questionnaires were distributed to a diverse sample questionnaires were distributed among a diverse sample of customers shopping for different products of various brands and origins displayed by the chain, those who agreed to participate by stating their opinions on the questionnaire items. (288) valid questionnaires were retrieved for statistical analysis. Table 1 shows the demographic data of the sample studied.

First: Psychological Pricing – Concept, Importance, and Objectives

Psychological pricing is considered an important concept in marketing and business management, playing a crucial role in determining product prices. Psychological pricing refers to a “policy that relies primarily on price to influence the psychological state of the customer, where the price is adjusted according to customer type. For some, high prices mean something, while others may be attracted to anything advertised at a low price”.¹ It is also defined as “the process of setting prices based on customer lists, where it depends on their emotional responses, subjective evaluations, and feelings toward specific purchases”.² According to³ it is “policies that rely on influencing the customer’s psychological state to drive them to make a purchase decision as a result of an emotional reaction rather than depending on rational thought in purchasing.”

Accordingly, psychological pricing can be defined as “a pricing strategy that uses specific methods to influence customer perceptions and behavior, exploiting and employing their emotional responses to certain price points, making products appear more attractive, thereby generating a desire to purchase.”

Businesses adopt psychological pricing within their marketing offers due to its importance, which can be clarified as follows⁴:

The use of psychological pricing as part of promotional tools helps organizations achieve several goals, including⁵:

Second: Psychological Pricing Strategies

There are multiple psychological pricing strategies, and organizations choose the strategy that best suits their internal and external conditions. They may also reconsider any psychological pricing strategy currently being followed, based on changes and updates in the internal and external marketing environment, and adopt another strategy more aligned with these changes^10,89 identified psychological pricing strategies as (Fractional Prices, Comma Effect, Font Size Effect, Price Anchoring),^11,12 and agree with him in identifying the same strategies that can be adopted within psychological pricing, while¹³ identified psychological pricing strategies as (Fractional Prices, Price Interval, Hundred Rule for Discounts, Word Free, Font Size When Writing Old and New Price, Red Color and its Effect on Writing Price, Effect of Descending Order of Prices).

Based on the above, we see that there is agreement on identifying some psychological pricing strategies that the organization can adopt in its marketing program, certainly in accordance with the requirements and challenges of its internal and external environment. For the purposes of this research, we will address the strategies of (fractional pricing, price interval, price line size, and price line color), as follows¹⁴:

1- Fractional Pricing

According to this strategy, prices are called “attractive prices.” Through this strategy, the organization attempts to influence the customer psychologically by suggesting that the product is lower in price because it is slightly less than a round number.¹⁴ The organization uses fractions of the currency unit, such as stating that the selling price of a unit is $3.99 instead of $4. This fractional number gives the customer the impression that prices have been reduced and set with great precision.¹⁵ This aligns with recent empirical observations³⁴ which note that fractional pricing structures significantly trigger consumers’ cognitive shortcuts, inducing immediate behavioral responses by maximizing the perceived value of the discount.

2- Decimal Point

According to this strategy, the organization believes that if it places a punctuation mark, the customer will perceive the price differently. For example, when a product is priced as (1500$), the customer sees it differently compared to (1.500$). Although any rational person knows they are the same amount, this small punctuation mark creates a strong difference in the customer’s perception of the price. Most customers perceive prices written with punctuation as higher than those without, as people interpret numbers visually, which influences their purchase decisions.¹⁶ Furthermore, modern international studies³⁵ confirm that visual price framing, including the strategic use of decimal punctuation, shapes the consumer’s internal assessment of price fairness and economic urgency.

3- Price Font Size

Reducing the font size in which the price is written on the package directly, or on the tag placed on the product, is one of the most effective strategies for increasing sales. Products with smaller-sized price fonts are much more likely to be purchased than those with large-sized price fonts. This strategy is based on the idea that smaller font sizes are psychologically associated with lower prices. In the customer’s mind, font size is linked with value—smaller font suggests a smaller price, and vice versa.¹⁷ In support of this, global consumer research³⁶ demonstrates that typographical variations, such as contrasting font sizes on price tags, serve as critical sensory stimuli that capture consumer attention and accelerate impulse buying.

4- Price Font Color

The color of the price font significantly affects customer behavior and purchase decisions. The colors used to write prices on displayed products can trigger different feelings and emotions, influencing how customers interact with prices and whether they will purchase the product. Red, for example, is often used by marketers on discount tags to grab attention and stimulate the desire to buy, while blue may be used for luxury products to suggest quality and trust.¹⁸ Similarly, regional field evidence³⁷ proves that visual aesthetics, particularly font color dynamics, act as significant cues that guide price-conscious shoppers toward identifying markdown privileges and luxury associations.

Understanding customer behavior is a crucial stage in the marketing process. This process, driven by the need to meet customer demands, is by no means easy. Customers, for example, may express interest in buying a product but not actually purchase it,¹⁹ or they may not know exactly what they want to buy. They may also make their decisions at the last minute depending on their circumstances. Therefore, marketing management must analyze customer needs and understand how they perceive things—this means paying attention to their buying behavior.²⁰

Customer buying behavior has been defined as:

The importance of studying customer buying behavior lies in the fact that it achieves several objectives for both the customer and the organization, as follows²⁴:

Customer purchasing behavior can be measured through several dimensions, and both^20,24,27 agreed upon a set of dimensions, which will also be adopted in this study due to their consistency with the data. These dimensions include the following:

In this section, the study hypotheses will be tested by determining and analyzing the correlation and impact relationship between psychological pricing strategies and customer buying behavior, as follows:

First: The Relationship Between Psychological Pricing Strategies and Customer Buying Behavior

2- The sub-hypotheses derived from the first main hypothesis

Based on the data in Table 3, the following becomes clear:

Second: The Effect of Psychological Pricing Strategy on Customer Purchasing Behavior

1- Second Main Hypothesis:

There is a statistically significant positive effect of the psychological pricing strategy (at the overall level) on customer buying behavior (at the overall level) among the customers of the studied chain.

Table 4: The Effect of Psychological Pricing Strategy on Customer Purchasing Behavior.

The results shown in Table 4 indicate the existence of a substantial effect of the independent variable, “psychological pricing strategy” (at the overall level), on the dependent variable, “customer buying behavior” (at the overall level). This is evidenced by the value of (β), which reached (0.907). This effect is statistically significant as indicated by the P-value of (0.002), which is less than (0.05). The same result is also confirmed by the (C.R.) value, which reached (32.392), exceeding the tabulated t-value (t Tab) of (1.96).

Furthermore, the value of (R²), which amounted to (0.82), indicates a significant effect of the independent variable on the dependent variable. This means that the independent variable (psychological pricing strategy) explains (82%) of the variance in the dependent variable (customer buying behavior), while the remaining percentage is attributed to factors beyond the scope of this study. This result shows that customer buying behavior is clearly influenced by psychological pricing strategies, thus motivating them to buy. Accordingly, the second main hypothesis is accepted.

2- The sub-hypotheses derived from the second main hypothesis

Based on the data presented in Table 5, the following becomes clear:

• First Sub-Hypothesis:

There is a statistically significant effect between the psychological pricing strategy, represented by (fractional pricing), and customer buying behavior (at the aggregate level) among the customers of the studied chain.

Statistical Results & Interpretation: Empirical evidence demonstrates that fractional pricing significantly influences customer purchasing behavior. This relationship is substantiated by an unstandardized regression weight (B) of 1.091 and a standardized regression weight (β/SRW) of 0.909, The significance of this impact is mathematically validated by a p-value of 0.003 (which satisfies the criteria of p < 0.05) and a Critical Ratio (C.R.) of 3.117, surpassing the standard tabulated t-threshold of 1.96. These statistical indicators verify that consumers anticipate higher financial savings when interacting with fractional price structures. Consequently, the first sub-hypothesis stemming from the second primary hypothesis is empirically accepted.

• Second Sub-Hypothesis:

There is a statistically significant effect between the psychological pricing strategy, represented by (Decimal Point), and customer buying behavior (at the aggregate level) among the customers of the studied chain.

Statistical Results & Interpretation: The statistical analysis reveals that the price separator dimension has a notable influence on customer purchasing behavior. This impact is confirmed by an unstandardized regression weight (B) of 0.831 and a standardized regression weight (β/SRW) of 0.797. The robustness of this path is validated by a p-value of 0.002 (which is strictly below the 0.05 threshold) and a Critical Ratio (C.R.) of 2.920, which comfortably exceeds the standard tabulated t-value of 1.96. These empirical outcomes suggest that consumers interpret decimal-formatted prices as an indicator of the product’s authentic value, thereby aligning the purchasing decision with their financial capacity and individual preferences. Based on these metrics, the second sub-hypothesis originated from the second major hypothesis is verified and approved.

• Third Sub-Hypothesis:

There is a statistically significant effect between the psychological pricing strategy, represented by (price font size), and customer buying behavior (at the aggregate level) among the customers of the studied chain.

Statistical Results & Interpretation: The empirical model confirms that the physical size of the price font yields a significant impact on customer purchasing behavior. This pattern is supported by an unstandardized regression weight (B) of 0.601 and a standardized regression weight (β/SRW) of 0.685. This predictive path achieved statistical significance with a p-value of 0.002 (falling below the 0.05 margin) and a Critical Ratio (C.R.) of 7.607, significantly outperforming the tabulated t-limit of 1.96. These dynamics indicate that typographical adjustments in price font sizes are highly effective in capturing consumer attention. When a newly adjusted price contrasts visually with the previous price font, it enhances immediate consumer recognition and triggers purchase intentions by maximizing the perceived discount value. Accordingly, the third sub-hypothesis derived from the second overarching hypothesis is sustained.

• Fourth Sub-Hypothesis:

There is a statistically significant effect between the psychological pricing strategy, represented by (price font color), and customer buying behavior (at the aggregate level) among the customers of the studied chain.

Statistical Results & Interpretation: The structural analysis verifies that the color of the price font has a substantial impact on customer purchasing behavior. This directional influence is statistically supported by an unstandardized regression weight (B) of 0.829 and a standardized regression weight (β/SRW) of 0.824. The statistical reliability of this relationship is validated by a p-value of 0.003 (which satisfies the criteria of p < 0.05) and a strong Critical Ratio (C.R.) of 9.010, which significantly exceeds the standard tabulated t-criterion of 1.96. These results imply that visual color variations exert distinctive psychological stimuli on consumer decisions. Implementing a unique font color for a revised price effectively communicates markdown opportunities, encouraging the buyer to perceive the transaction as economically beneficial. Furthermore, dedicating specific color schemes for premium or exclusive items elevates their perceived prestige and reinforces purchase intentions. Consequently, the fourth sub-hypothesis originating from the second primary hypothesis is confirmed and accepted.

In light of the study results and conclusions, it is appropriate to present the following recommendations:

Although the study contributed to achieving its stated objectives, there are several limitations that must be acknowledged. These limitations are as follows:

1. Data was collected from customers of the studied retail chain. Although the number of participants reached 400, this number is insufficient given the large customer base of this chain. The refusal to participate stemmed from several reasons, including apprehension about participating, time constraints, and a lack of awareness of the importance of scientific research and its role in improving marketing performance. Therefore, generalizing the results is certainly appropriate for the studied retail chain, but it is essential to expand the study to include other retail centers if they wish to utilize the findings in their marketing operations and activities.

2. Verbal consent was obtained from customers who participated in answering the questionnaire items. This was due to their reluctance to write their names and sign any other document, whether it be the questionnaire or otherwise, with their name and legal information, fearing its potential misuse for purposes that could harm them in the future. Therefore, verbal consent was sufficient to ensure cooperation and completion of the questionnaire.

3. The study relied on self-reported measures, which may introduce bias into the responses or influence social desires that could affect the accuracy of participants’ answers.

4. The research focused primarily on psychological pricing strategies and their impact on customer purchasing behavior. It did not address other pricing strategies or factors that may influence customer purchasing behavior.

5. Although many studies have examined customer buying behavior, several new factors have emerged as a result of technological advancements and modern communication methods. These factors should be added to those mentioned previously in this study, and further research is needed.

6. Research should aim to study and analyze the causal relationships that can influence customer buying behavior through the application of more comprehensive psychological pricing strategies across diverse or specific customer groups and in different social environments. This will help identify causal pathways and clarify the nature of the correlation and influence between them.

7. Studies should employ a mediating or moderating variable between psychological pricing strategies as the independent variable and customer buying behavior as the dependent variable. This will help reveal more generalizable results that can be applied to many retail outlets, improving marketing performance, increasing sales, and raising profit levels.

ORCID

https://orcid.org/0000-0002-8667-3219

Research ethics statement

This research was conducted using an anonymous, voluntary questionnaire distributed to customers of the Al-Salam chain stores in Kirkuk. All participants gave verbal consent, preferring not to sign any document, believing that verbal consent was sufficient and fearing that their signatures might be misused for purposes that could harm them in the future. No sensitive personal data was collected, and the confidentiality and privacy of participants’ identities were fully guaranteed.

The necessary research ethics approvals were obtained from the Ethics Approval Committee at the Center for Technical Research/Northern Technical University, under approval number (17), and a copy of this approval is attached to this document. The study was conducted in accordance with the university’s institutional research guidelines, using questionnaires as the data collection tool. However, for the purposes of transparency and verification, we have provided the ethical approval certificate obtained from the university, along with the necessary authorizations from the relevant authorities, for your review.

The raw dataset (individual questionnaire responses) supporting the findings of this study cannot be made publicly available due to unique ethical, privacy, and field security constraints within the local research context (Iraq). During the field survey, participants explicitly refused to provide written consent or have their raw individual responses archived digitally or shared globally, citing heightened concerns regarding digital privacy, identity theft, or the potential misuse of personal records. To secure their participation and maintain strict ethical standards, oral informed consent was utilized instead of written signatures. The authors committed to maintaining absolute confidentiality, promising that data would only be processed in an aggregated, anonymous format and securely destroyed post-analysis.

Consequently, to protect participant safety and prevent any unintended data misuse, the raw survey files have been permanently and securely destroyed. However, for institutional validation, ethical inquiries, or if further aggregated data/methodological clarifications are required in the future, researchers may contact the corresponding author: Dr. Sawsan Ibrahim Rajab, Northern Technical University, Kirkuk Polytechnic College, Kirkuk, Kirkuk Governorate, Iraq. Email: [email protected]

We extend our sincere thanks and appreciation to the management of Al-Salam chain stores in Kirkuk, and to all the customers who shopped at this chain, for responding to the survey and dedicating some of their valuable time to participate in this study. Their cooperation and invaluable support played a significant role in the completion of this study and the achievement of reliable results. Furthermore, their honest opinions and constructive feedback contributed to enriching the quality of the research and broadening our understanding of the subject.

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Published: 06 Oct 2026, 15:855

Published: 21 Sep 2026, 15:855

Published: 01 Jun 2026, 15:855

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Ibrahim Rajab APDS and SATWAN AMHAMMED M. The Role of Psychological Pricing Strategy in Customer Purchasing Behavior [version 3; peer review: 2 approved, 1 not approved]. F1000Research 2026, 15:855 (https://doi.org/10.12688/f1000research.177273.3)

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Current Reviewer Status: ?

VERSION 2

PUBLISHED 21 Sep 2026

Revised

Reviewer Report 30 Sep 2026

Munther Khuder Yaqoob, Marketing Management, University of Mosul, Mosul, Nineveh Governorate, Iraq 

Approved

VIEWS 0

Reviewer Report 29 Sep 2026

Ahmed Hammadi, University of Fallujah, Fallujah, Iraq 

Approved

VIEWS 0

Reviewer Report 22 Sep 2026

George Spais, Hellenic Open University, Patras, Greece 

Not Approved

VIEWS 0

VERSION 1

PUBLISHED 01 Jun 2026

Reviewer Report 21 Aug 2026

Munther Khuder Yaqoob, Marketing Management, University of Mosul, Mosul, Nineveh Governorate, Iraq 

Approved with Reservations

VIEWS 0

Reviewer Report 19 Aug 2026

Ahmed Hammadi, University of Fallujah, Fallujah, Iraq 

Approved with Reservations

VIEWS 0

Reviewer Report 24 Jun 2026

George Spais, Hellenic Open University, Patras, Greece 

Not Approved

VIEWS 0