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What are micropayments and mobile wallets? Provide examples of their uses.
Section reference 1: Mobile Commerce Applications
Subgroups
Smaller, specific groups formed within a larger group based on shared characteristics or interests.
Geographic Segmentation
The division of a market into different geographical units such as nations, states, regions, or cities, to customize marketing strategies.
Mass Affluent
A social class characterized by individuals with more wealth than the average population, but not considered wealthy enough to be in the high-net-worth category.
Targeting
The process of identifying and focusing marketing efforts on specific groups of consumers who are most likely to respond positively to particular products or services.
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