Competitor analysis is the process of understanding your competition in order to succeed in the marketplace. With a proper competitor analysis model, you can benchmark your progress against more established competitors, identify your target market, and even anticipate new products or services from your competition.
Price segmentation is the practice of offering the same products or services for different prices based on who is paying. Examples of a price segmentation strategy include loyalty cards, coupons, and student or senior discounts.
Price optimization is the mathematical analysis by a company determines the response of potential buyers to different prices for its products and services. The aim is to meet a company's objectives of maximizing profits and growing and retaining a customer base.