Label the flows in the simplified circular flow diagram that ignores the government.
Definitions:
Value Proposition
A promise of value to be delivered, communicated, and acknowledged by a customer, distinguishing a product or service from competitors.
Market Segments
Division of a broader market into smaller, homogenous groups of consumers with similar needs, wants, or demographic profiles.
Market Segmentation
The practice of dividing a target market into smaller, more defined categories based on various characteristics.
Starbucks
Starbucks is a global coffeehouse chain known for its signature coffees, teas, and other beverage and food offerings, operating in numerous countries around the world.
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