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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.

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Definitions:

Hugo Chávez

Former Venezuelan military officer and politician who served as the President of Venezuela from 1999 until his death in 2013.

Price Ceiling

A legally imposed maximum price on a good or service, intended to prevent prices from rising above a certain level.

Market for Soda

A commercial domain focused on the buying and selling of soft drinks.

Equilibrium Price

The price at which the quantity of a product offered is equal to the quantity of the product in demand.

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