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Identify and State the Historical Significance of the Following

question 2

Short Answer

Identify and state the historical significance of the following:
-privateering

Comprehend the basis for different customer responses to the marketing mix.
Differentiate between various types of market segmentation.
Understand the role and process of segmentation, targeting, and positioning (STP) in marketing.
Identify the significance of understanding customer needs, wants, and demands in market segmentation.

Definitions:

Precautions

Measures taken in advance to prevent something dangerous, unpleasant, or inconvenient from happening.

Allergic Response

An immune system reaction that occurs when the body's defense mechanisms overact to a normally harmless substance.

Substance

A form of matter with distinct properties and composition, such as a chemical element or compound.

Pathogen

Microorganisms such as bacteria, viruses, fungi, or parasites that can cause disease in their host.

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