Setting a price at ₹999 instead of ₹1,000 to create a perception of a lower price is known as:

Why: Odd or psychological pricing sets a price just below a round number specifically to create the perception of a lower price. Why the Other Options Are Excluded: •  Bundle pricing combines multiple items, unrelated to this specific tactic. •  Reference pricing works by displaying a higher comparison price alongside the actual price, not by ending a price just below a round number. •  Prestige pricing deliberately sets a high price to signal exclusivity — the opposite intent. •  Discount pricing involves temporary reductions from an existing price, not this permanent pricing convention. Industry Example: A retailer prices an item at ₹499 rather than ₹500 to make it appear meaningfully cheaper.