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Prof. Vicki Morwitz on JCPenney's pricing strategy

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Excerpt from MarketWatch -- "But using round numbers made J.C. Penney seem less like a discount store à la Target, which sells sports jackets at $49.99 instead of $50, experts say. 'A high-end restaurant will charge $32 for a steak because it makes it seem more luxurious than a steak for $31.99,' says Vicki G. Morwitz, a professor of marketing at the Stern School of Business at New York University.'"

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