Odd-Even Pricing Involves Setting a Limited Number of Prices for Certain Categories of Certain

Short Answer

Odd-even pricing involves
setting a limited number of prices for certain categories of products.
setting an initial high price to cover new product costs and generating a profit.
taking advantage of the fact that consumers do not always respond rationally to stated prices.
setting prices in uneven dollar amounts.
setting an initial low price to establish a new product in the market.