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Market Segmentation
The process of dividing a target market into smaller, more defined categories of consumers who share similar characteristics and needs.
Homogeneous Groups
Groups composed of members who are similar in certain aspects, such as demographics, interests, or characteristics.
Psychographic
Pertains to the study and classification of people according to their attitudes, aspirations, and other psychological criteria, particularly in market research.
Standardized Marketing Mix
A consistent set of marketing strategies, including product, price, place, and promotion, used across different markets.
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