Market segmentation means to divide a target market into meaningful, relatively similar, and identifiable segments or groups. Name a specific product where a company would segment its sales by the geographic location of its consumers.

Name a product that has had a decrease in demand in the past ten years (ie. VCR and VCR tapes). State the major cause of the decrease in demand for that product (Ie. consumer behavior, the economy, laws, technology). In your opinion, what could the company have done to prevent the decrease in demand for that product?

A competitive advantage means that a company has something unique or superior to that of the competition. Name your favorite restaurant and briefly describe its competitive advantage.