Market segmentation is a crucial component of any marketing strategy, as it allows businesses to divide a heterogeneous market into smaller, more manageable segments. Discuss the FIVE (5) broad types of market segmentation strategies and explain how each type can be applied to identify and target potential customers effectively. Provide real-world examples to illustrate your points. Market segmentation is a crucial component of any marketing strategy, as it allows businesses to divide a heterogeneous market into smaller, more manageable segments. Discuss the FIVE (5) broad types of market segmentation strategies and explain how each type can be applied to identify and target potential customers effectively. Provide real-world examples to illustrate your points