$($a$)$ Describe the term market segmentation $(4$marks$)$

$($b$)$ Discuss any four bases for segmentation that how they can be used to create value for

target market $(16$marks$).$

New products are the lifeblood of a company. As old products mature and fade away,

companies must develop new ones to take their place.

Discuss the steps involved in the new product development process and the major

considerations in managing this process $(20$marks$)$