Answer:
Market segmentation
Explanation:
Market segmentation is the process of dividing a market into distinct groups of buyers who have different needs, characteristics, or behavior.
The businesses use market segmentation to separate each market from another to study their demand closely. It helps them in catering to them according to their characteristics. They are able to treat every market according to its unique characteristics and generate more profit while doing that.
Less popular open source products are not likely to attract the community of users and contributors necessary to help improve these products over time. This situation reiterates the belief that network effects are a key to success.
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What are Network Effects?</h3>
- The phenomenon known as the "network effect" describes how more individuals using a commodity or service results in a rise in value. An illustration of the network effect is the internet.
- Since the internet was first only useful to the military and a small number of researchers, there weren't many users.
- However, as more people had access to the internet, more material, information, and services were created by users.
- More people were drawn to connect and transact business with one another as a result of website development and enhancement. A network effect resulted from the internet offering more value as traffic increased.
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Answer:
The amount of loan after two years is $2875.68.
Explanation:
Given information:
Interest rate = 7%, compounded continuously.
Time = 2 years
Initial value of loan = $2500
The formula for amount after continuous compound interest is
where, P is principal,r is nominal rate per year, t is time in year.
Substitute P=2500, r=0.07, t=2 in the above formula.
Therefore the amount of loan after two years is $2875.68.
