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The Text States That "Geodemographic Segmentation Can Be Particularly Useful

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Essay

The text states that "geodemographic segmentation can be particularly useful for retailers." Use a local retailer to describe how geodemographic segmentation could be useful.


Definitions:

Value Chain Management

The process of organizing all activities involved in creating and delivering a product or service to maximize value and competitive advantage.

Input-through-output Process

A method or procedure in which inputs are transformed into outputs through a series of steps or activities, often in a production or operational context.

Inventory Control

The supervision of supply, storage, and accessibility of items to ensure an adequate supply without excessive oversupply.

Economic Order Quantity

A formula used in supply chain management to determine the optimal order size that minimizes the sum of ordering and holding costs.

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