Conceptual Understanding of Diffrentiation in Price Of Product in Different Markets

Price Discrimination is the pricing strategy through which diffrent prices are offered to diffirent customers in diffrent markets.
Price Discrimination are based on segments which the company decides according to the preference of the customers such as.:-
Perfect Price Discrimination:- It is also called as First Degree Price Discrimination, It occurs when a firm charges diffrent prices for every unit consumed. In this the firm is able to charge the maximum possible price for each unit.
Example, when there is shortage of a particular product, the firm charges to its maximum price for shortge of the product.
Market/Segment based price Discrimination :- In this by the name we can say that according to diffrent market or diffirent consumer segment the price is been decided such as according to the willingness to spend by the customers the price of the product is been decided. Such as - geographic segmentation, segmenting through diffirence in class or through age etc.
Example, in India, Darjeeling is famous for Tea production so it is available all the time n so according to which prices are relatively low in Darjeeling as compared to other places.
Price Discrimination through Self-Selection :- In this a customer can decide its own price according his willingness to spend i.e. How the customer is willing to spend for a product or service.
Example, when a customer is booking a cab so there are different varient of cabs such as prime cabs,micro cabs,mini cabs etc. As per customer demand the company is providing diffrent services.