When setting prices, the three price points can help influence consumer choices while providing products and services that meet their needs. 

1. Low price range: Those with a limited budget prefer this option. Companies keep prices low in this range by offering only basic features and services. It generally targets the masses and focuses on providing necessary features and services while keeping costs low.

2. Median price range: Consumers who want and are willing to pay extra for basic features opt for this range. Customers expect middle-range products and services to be of higher quality and offer more choices and customization options.

3. High price range: Naturally, consumers expect the highest quality and experience in this price range. Customers expect products and services in the higher price range to offer advanced features with the latest technology, as well as a higher level of customization and professional support.

These three price points make it easier for consumers to find an option that fits their budget and needs. Additionally, a larger price differential makes it easier for consumers to identify value and choose the right product or service at the right price point.