Why Do Organizations Engage in Customer Segmentation? What Are the Different

question 32

Essay

Why do organizations engage in customer segmentation? What are the different approaches that can be used for customer segmentation?

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Definitions:

Social Security

A government program that provides financial assistance to people with inadequate or no income, primarily the elderly, disabled, and survivors.

Credit Subsidies

Financial support or incentives provided by the government to reduce the cost of borrowing, often aimed at encouraging certain types of investments or purchases.

Elderly Individuals

are persons typically aged 65 years and older, often considered to be in the retirement phase of life.

Poverty Rates

The percentage of the population living below the poverty line, reflecting the proportion of individuals or families who cannot meet basic needs.