Problem: List the steps involved in segmenting markets. Six steps are involved when segmenting markets:
(1) selecting a market or product category for study;
(2) choosing a basis or bases for segmenting the market;
(3) selecting segmentation descriptors;
(4) profiling and evaluating segments;
(5) selecting target markets; and
(6) designing, implementing, and maintaining appropriate marketing mixes.
Question: Write a letter to the president of your bank suggesting ideas for increasing profits and enhancing customer service by improving segmentation and targeting strategies.