Step 1: Identify customer segments and create customer profiles based on demographic data.
Step 2: Research competitor pricing models and conduct market research to better understand consumer preferences and pricing sensitivities.
Step 3: Develop pricing strategies that optimize for customer segment.
Step 4: Create test groups for each segment and deploy pricing strategy to test and monitor outcomes.
Step 5: Analyze the results and use insights to adjust and iterate on pricing strategies.
Expected Outcome: By optimizing pricing strategies based on customer segmentation, we expect a reduction in churn rate and higher customer satisfaction. We also expect to increase revenue through increased customer conversion rates.