ODD pricing strategy -a most common strategy for attracting customer

Today i just paid a visit in Vishal mega mart jorhat,there i saw many items at last srtriked on a two t-shirt which were priced Rs299 and other one Rs300 both seems to be of same quality same colour.
At last i made up my mind to buy Rs 299 t-shirt because i thought that it was too cheap as comparing to other one.
I reached home and thought there was a price difference of only 1 rupee only ,why did i prefer it to be a cheaper one?
I just followed up different books of psychology continously and came up with this solution:


Odd pricing is a pricing method aimed at maximizing profit by making micro-adjustments in pricing structure. It relies on the assumption that consumers are calculation-averse and will therefore only read the first digits of a price when making their purchasing decision. According to this method, the relevant information of any given price does not usually relate to the last digits, but rather to the first digits, or in other words, to the order of magnitude of the numbers. For example, the price of Rs.99.9 looks more like 99 and not like 100.
So psychologically 99 look more  less comparing to that 100.

In this way all online stores and big big commercial applies this strategy to attract more customers.
 So next time when you see such pricing in any general stores or online stores this article will strike in your mind.



Any further suggestions will be highly appreciated feel free to comment your views.
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