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Why Is Market Segmentation Important? Describe Three Ways Firms Can

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Why is market segmentation important? Describe three ways firms can segment consumer markets.


Definitions:

Personal Desires

Refers to individual wants or cravings that motivate behavior towards a goal or satisfaction.

Individualism

A principle valuing the independence and self-reliance of an individual, often emphasizing personal freedom and autonomy over collective or communal goals.

Light Therapy

A treatment for seasonal affective disorder (SAD) and certain other conditions by exposure to artificial light.

Depression

A mood disorder characterized by persistent feelings of sadness, loss of interest, and a lack of energy or motivation.

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