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The Term ________ Refers to the Process of Dividing an Entire

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Short Answer

The term ________ refers to the process of dividing an entire market of consumers into groups whose similarities make them a segment for products devoted to their needs.


Definitions:

Technological Knowledge

The information and understanding related to the practical application of tools, machines, and techniques for solving problems and creating new products or processes.

Public Good

A product or service that is provided without profit to all members of a society, either by the government or a private individual or organization.

Education

The systematic process of facilitating learning, acquiring knowledge, skills, values, and beliefs through various means such as schooling, training, or research.

Saving Rate

The proportion of disposable income that an individual or group saves rather than spending on consumption.

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