What Is the Purpose of Market Segmentation? How Are Markets

question 14

Essay

What is the purpose of market segmentation? How are markets typically segmented? Can a company segment its market on more than one dimension?

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Definitions:

Bankruptcy

A judicial process concerning an individual or entity that cannot fulfill their financial obligations.

Maturity Date

The final date by which a loan or other financial instrument must be paid back in full.

Service Charge

A fee collected for services provided, often added to a bill in sectors like banking, hospitality, and restaurants.

Credit Cards

Financial instruments issued by banks that allow cardholders to borrow funds within a pre-approved credit limit for purchases or cash advances.