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.