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- DictionaryPrice dis·crim·i·na·tion/prīs dəˌskriməˈnāSHən/
noun
- 1. the action of selling the same product at different prices to different buyers, in order to maximize sales and profits.
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- Price discrimination
Pricing strategy of offering similar products at different prices according to buyers' willingness to pay
Price discrimination is a microeconomic pricing strategy where identical or largely similar goods or services are sold at different prices by the same provider in different market segments. Price discrimination is distinguished from product differentiation by the more substantial difference in production cost for the differently priced products involved in the latter strategy. Wikipedia
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