"Different prices can be charged by the producer in the different market segments to maximize revenue." Explain the statement by taking a case of aviation industry.
Answers
Answer:
Explanation:
The aviation industry is one of the industries that effectively utilizes market segmentation. The aviation industry segments customers according to their level of income.
First Class
First class customers are given preferential treatment. They get extra wide seats on the front part of the plane. They get excellent meals and other special services. First class customers usually pay a premium for this privilege. The rich sometimes fly first class.
Business Class
It is similar to the first class in a few instances. Business class passengers are usually looking for value and comfort. They fly to conduct their businesses frequently. Business class is found around the middle of the plane.
Economy Class
It is usually reserved for those who want a no-frills flight. The seats are crammed together a small space around the back of the plane. There are no special services in economy class
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