Market Segmentation Worksheet

A market is a group of people who have the need, interest, and ability to buy a product.

• True

• False

A potential market includes everyone living in a community.

• True

• False

A target market is a smaller, specific group from the potential market.

• True

• False

Recognizing a potential market helps avoid wasting resources.

• True

• False

Observing the community allows you to identify existing businesses and missing needs.

• True

• False

Demographic segmentation includes lifestyle and personality.

• True

• False

Geographic segmentation refers to dividing the market based on opinions and habits.

• True

• False

Psychographic segmentation focuses on lifestyle, values, and personality traits.

• True

• False

Behavioral segmentation includes buying habits and brand loyalty.

• True

• False

A need is something people require for daily living.

• True

• False