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.
Product performance forecasting predicts future sales volumes—at what price, during which time, and in which market. It enables businesses to make informed decisions in both the short term and the long term. Nowadays, companies rely on machine learning software for product performance forecasting as these programs continuously improve, providing businesses with faster and more reliable estimates all the time.
In order to enter into a new market, businesses must have an effective product adaptation strategy. This strategy is essentially the knowledge of what part of a product or service must be changed in order to appeal to local customers.
Adaptation differs from localization in that the former changes only surface-level factors.