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.
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.