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1. What six criteria can be used when identifying and researching potential customer information or market segments for business ideas?
2. Assume your business idea is to open a boutique record shop in the city centre of a major city. Complete this worksheet with the characteristics of the market segments who are most likely to be potential customers of the business.
Segment of the market Segment 1 Segment 2 Segment 3
Geographic characteristics
Area
Density of area
Demographic characteristics
Age range
Income rage
Gender
Occupation
Marital status
Level of education
Home ownership
Psychographic characteristics
Personality type
Socioeconomic profile
Beliefs/ values
Religious beliefs
Lifestyle
Hobbies
Interests and recreation
Stage of life
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