"The cost and availability of capital is directly linked to the degree of market segmentation. Firms having access to markets with a low level of segmentation should have a lower cost of capital and greater ability to raise new capital" Required: (a) Define what is meant by the term of market segmentation.

(b) Discuss FIVE (5) main causes of market segmentation.

(c) Discuss advantages for a firm to be located in a segmented market.