very time you segment a market you are establishing all of the groups that exist within the market. For instance, if we want to target age groups, we might break the market into three age groups. If we want to lay income on top of that, we might want three income groups. Now we have 3×3 or 9 segments. If we lay two geographic groups on top of that, were already up to 18 segments. The number of segments can blow up pretty quickly. Lets start with a product I know you are familiar with. What segment of individuals do you think the University of Hartford targets for the MBA program? 16)? What additional segments are close, but not really targets? The sixth person should answer this product and suggest another product to continue with.
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