Product Differentiation and Price Discrimination Product differentiation seeks to distinguish a product from a competing product to make it more attractive to a specific target market. Price discrimination occurs when the same goods/services are sold at different prices from the same company.
The Captain Samuel Vimes “Boots” theory of socio-economic unfairness: the rich man who bought the high quality $50 pair of boots would still be using them in 10 years, while the poor man who buys the $10 pair would have spent $100 on boots in the same time, and still be worse off....