Answer: The term is "Market".
Explanation: A market is a group of people who have a need, purchasing power, and the desire and authority to spend money on goods, services, and ideas. Markets can be segmented based on various factors such as demographics, psychographics, geographic location, and behavior.
Market segmentation is the process of dividing a market into smaller groups of consumers with similar needs or characteristics. This allows companies to tailor their marketing efforts to specific groups of consumers and create products that meet their needs.
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