
Geographic Pricing
Geographic pricing is a strategy where businesses set different prices for the same product based on the buyer's location. This can be influenced by factors like shipping costs, local market demand, competition, and economic conditions. For example, a company might charge more in an urban area where demand is higher and costs are greater, while offering lower prices in rural areas. The goal is to maximize sales and profits by recognizing that consumers in different regions may have varying willingness to pay.