List and Describe the Five Common Phases or Stages Shared

question 61

Essay

List and describe the five common phases or stages shared by most projects?

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Definitions:

Market Segmenting

The practice of dividing a broad target market into subsets of consumers who have common needs, preferences, or characteristics, targeting them with specific marketing strategies.

Purchasing History

Recorded information detailing past transactions made by a buyer, used for analyzing buying behavior or trends.

Psychographic

Relating to the study of personalities, values, opinions, attitudes, interests, and lifestyles.

Demographics

Statistical characteristics of a population such as age, gender, income, and education, used for marketing and policy planning.