This past week I had two buyer experiences with interesting examples of segmentation, although the sellers may not have realized they were segmenting their customers. The two situations resulted in different outcomes and provided some good lessons. The most important lesson is that segmentation should enable you to expand your customer base, sell more products or services, and improve your profitability. If those are not the results you are obtaining, you are doing it wrong.
Last week Pfizer announced increases in the list prices of more than 40 drugs for the second time within the year. The increases average 9.4%. Although there could be some political backlash, the pricing strategy is logical. Pfizer is recognizing their pricing power, they are incorporating buyer psychology into their process, and they are taking steps to avoid shocking or angering their customers.