Pricing Psychology:

Part 1)

        Research 2 separate psychological pricing phenomenon that apply to your favorite restaurant’s menu.  Do not choose a restaurant chain that has more than 5 locations and do not use a traditional Chinese food restaurant.  Provide a copy of the menu and point out 2 psychological pricing phenomenon being used.  Explain what the phenomenon are and how it’s being used by the restaurant you’ve chosen, to boost profits.  Alternatively, you may point out 1 phenomenon and suggest how another might be used to improve profits.  Please note that if choosing this route, you need to outline what the restaurant should do and how it will improve profits.  Your suggestion should also be consistent with the restaurant’s core value proposition.  

Part 2)

In addition, provide a summary of either the seminal academic work outlining one of the phenomenon or an experiment showing the prevalence or power of the phenomenon. Be sure to include the source(s) in your submission.