Segmenting pricing involves tailoring pricing strategies to different customer segments based on their unique needs, preferences, and willingness to pay. By offering tiered pricing options or discounts for specific customer groups, you can maximise revenue and cater to a diverse customer base.
If you're a local mini supermarket, you might implement segmentation pricing by offering different pricing options tailored to various customer groups. For instance, you could have discounted pricing for bulk purchases targeting families or offer loyalty discounts for repeat customers. This approach allows you to cater to different segments of customers, from budget-conscious households to those seeking convenience, ultimately maximising revenue and meeting the diverse needs of your customer base.
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