Lgnoring this economic or sociopolitical context can be decisive for the success of your business. You have 14 days free to create your online store. No credit card, easy and intuitive. Email address Email address One option is to use a statistical tool that collects historical price data and allows segmentation by customers and sales. Based on: The products sold. The customers who buy, according to sectors of activity, volume of business and type of customer. The types of transactions, assessing profitability, volume of orders… On the other hand, you must also decide how many segments to carry out: if you create many, you will go crazy when it comes to setting prices; but if you do few, the segments may be too heterogeneous.
Price segment Types of price segmentation Based on price, we are going to see the different types with examples of segmented pricing. 1. By type of customer You can base yourself on the customer’s profile or on their behavior as a buyer. Another element that you can consider to do this type of price segmentation is the customer’s purchasing power . In fact, this is the most common way to segment by price. The classic example would be that of a person traveling by plane in business class for work. However, on the same plane will be other travelers who have bought at a high discount and who travel in economy class.
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For the amount purchased This is a very common Slovenia phone number way of discriminating prices. Since the loyalty of the best customers. Who spend the most in your company, is rewarded . The formats can be very varied, although the most frequent are those based on strategies to make your customers buy more , such as volume discounts (the more quantity of product they buy, the lower the price) and discounts by number of purchases. orders (if a certain number of orders are made in a time interval). And questions with other Shopify merchants? Join our official Shopify community in Spanish on Facebook. 3. By delivery time In this case, the price can be segmented based on when the product will be delivered .
You may want to ensure a steady stream of sales. Therefore, for those buyers who buy well in advance, you can apply discounts for buying with such anticipation. 4. By payment term Another form of product price segmentation is the payment term. This would be the case of discounts for prompt payment . This means that those customers who pay immediately, as soon as they receive the invoice, will enjoy a lower price than those who wait for an expiration of 30 or 60 days from the date of the invoice. On the other hand, for those customers who want to lengthen their payment periods, you can also charge a higher price.
By Customer Location
After all, if someone opts, for example, for a 180-day payment, he will have to bear the financial costs of this deferred payment. This price segmentation takes into account, above all, the international context. In general, there are many companies that choose to set different prices for different countries . For that reason, the same product will not be worth the same in the United States as in Spain. It is nothing more than a geographical differentiation that is usually applied so that products are marketed at the best possible price in all countries. 6. Due to the time in which the purchase is made It is a type of price segmentation much more frequent than you think .
Or is it that you have never been to a bar that does happy hour ? It is common, for example, that in the hours of less influx of customers, many bars make the offer of offering two drinks for the price of one. You will also find this type of price discrimination in the sale of airline tickets, since the price varies depending on what is approaching the day and time of departure of the flight. 7. By product packages Product bundle segmented pricing takes into account product purchases that include higher-value bundles . Car manufacturers usually vary the price of their vehicles depending on the options that each customer wishes to incorporate. Even those same options can also be cheaper if they are ordered within an options package.