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Explain How Cluster Analysis Can Identify Market Segments

question 56

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Explain how cluster analysis can identify market segments.


Definitions:

Social Problems

Issues within a society that are widely recognized as being detrimental to the welfare of society members and are in need of remedy, such as inequality, poverty, and crime.

Macrosociological

Pertaining to large-scale social processes and structures, as opposed to individual or small group dynamics.

Microsociological

Relating to the detailed study of what people say, do, and think in the course of their everyday lives, often involving the analysis of the interactions between individuals.

Sociology

The study of the development, structure, and functioning of human society, including the examination of social problems and the analysis of social relationships and institutions.

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