This Literature Review integrates a range of academic research to provide a more comprehensive overview of other published perspectives relevant to pricing methodologies that are assessed to measure their impact on consumer behavior. The psychological pricing strategy that adapts based on consumer behavior has had a substantial impact on various areas, including marketing and consumer behavior research. Key pricing techniques such as charm pricing, reference pricing, and bundle pricing were discussed, along with their cognitive, emotional, and behavioral effects on consumers. Furthermore, Cultural circumstances, demographic characteristics and other factors are mentioned to clarify the practical implications for decision makers within an organization and further recommendations for future research. Ultimately, this review helps managers and business owners gain a clear understanding of the valuable outcomes that can inform crucial decisions related to the impact of psychological pricing on consumer behavior.