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Societal change often leads to
Market Segmentation
The process of dividing a broader market into specific groups based on characteristics like age, income, preferences, or needs.
Specific Marketing Actions
Concrete steps or initiatives undertaken by a business to achieve its marketing objectives and enhance its market position.
Market Segment
A segment of a larger market defined by its own unique needs, preferences, or identity that differ from the larger market.
Product Differentiation
A marketing strategy that involves a firm using different marketing mix actions to help consumers perceive a product as being different and better than competing products.
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