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Discuss the five key assumptions for the basic, single-channel waiting line model.
Market Fragmentation
The division of a market into smaller segments with varied preferences, characteristics, or needs, often resulting in increased competition.
Mass Marketing
a marketing strategy that targets a large, general audience with a uniform message, rather than tailoring messages to specific demographic or psychographic segments.
Positioning
The activities a firm undertakes to create a certain perception of its product in the eyes of the target market.
Product's Profit Potential
The expected or estimated ability of a product to generate profit or financial gain.
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