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To Be Useful, Market Segments Must Rate Favourably on Five

question 19

Essay

To be useful, market segments must rate favourably on five key criteria. List and explain those criteria.


Definitions:

Compounded Monthly

Describes the process of calculating interest on both the initial principal and the accumulated interest from previous periods on a monthly basis.

Mortgage

A loan used to purchase real estate, secured by the property itself, which the borrower is obligated to pay back with a predetermined set of payments.

Balance

The amount of money in a financial repository, such as a bank account, at any given time, or the equilibrium state of an account after considering all debits and credits.

Insurance Settlement

The process where an insurance company pays out to a policyholder after a claim has been verified.

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