How is customer information used as a part of the pricing strategy?
Well, you must first understand that pricing strategy has two kinds of goals.
The first is profit maximization — whereby the aim is to make as much money as possible in every transaction. The other goal is revenue maximization — whereby the aim is to maintain customers by giving them a favorable price and providing them with incentives such as gift cards or bonus points.
Each pricing strategy has many factors and including customer research, market analysis, future projections on how the…