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Effective Market Segmentation Is a Two-Step Process That Starts with Naming

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Effective market segmentation is a two-step process that starts with naming broad product-markets and then goes on to segmenting these broad product-markets into more homogeneous submarkets.


Definitions:

Person-Centred Theory

A psychological approach emphasizing the importance of self-awareness and the innate tendency toward growth and fulfillment, developed by Carl Rogers.

Self-Actualization

Fulfilling one's abilities and potential, perceived as an inherent motivation or requirement in all individuals.

Individual Psychology

A psychological method or theory developed by Alfred Adler, focusing on the uniqueness of each individual and his or her holistic approach to life.

Phenomenological Approach

A research method focusing on individuals' subjective experiences and interpretations of the world around them.

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