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- State the relationship between market targeting and market segmentation in the process of marketing strategy. Is market targeting important in the process? Elaborate your answer.How does market segmentation differ from market targeting. What factors must look at in evaluating market segment?Explain the importance of segmentation in market research or business research and suggest how the market can be segmented.
- How does each firm employ psychographic segmentation (such as the AIL statements and the VALS approach) to the marketing of its products? Is there a relationship between the use of psychographic segmentation and the types of products sold by each firm?'Marketing research is carried out to define the probable market for particular product and to find out general market conditions and tendencies’. Appraise various functions of marketing research and state how these functions are relevant. Please provide justifications for your answer.