B.), Describe, using examples.Price strategies that companies usually use to account for various customer differences and changing situations. (10 Marks)

Companies employ various pricing strategies to account for customer differences and changing situations. Here are a few examples:<br /><br />1. **Segmented Pricing**: Companies often charge different prices for the same product or service based on customer segments. For example, airlines offer discounted tickets for early bookings or for customers who book through their website.<br /><br />2. **Bundling**: This involves offering multiple products for a single price. For instance, telecom companies bundle internet, phone, services together at a discounted rate.<br /><br />3. **Tiered Pricing**: Different versions of a product are offered at different price points. For example, software companies often have basic, premium, and enterprise editions with varying features and prices.<br /><br />4. **Geographic Pricing**: Prices can vary based on location. For example, movie tickets might be more expensive in major cities compared to rural areas due to higher operational costs.<br /><br />5. **Promotional Pricing**: Temporary discounts or special offers are used to attract customers. For example, Black Friday sales or seasonal discounts.<br /><br />6. **Value-Based Pricing**: Prices are set based on the perceived value to the customer. For example, a luxury car manufacturer might charge more for a car with advanced features and brand reputation.<br /><br />7. **Dynamic Pricing**: Prices are adjusted in real-time based on demand and supply conditions. For example, ride-sharing apps like Uber adjust fares based on demand at a given time and place.<br /><br />These strategies help companies maximize revenue by catering to different customer needs and adapting to market conditions.