STP: Segmentation, Targeting, Positioning

    Cards (17)

    • What does STP stand for in marketing?
      Segmentation, Targeting, and Positioning
    • What are the steps involved in the STP process?
      1. Define Market Segmentation
      2. Explore Segmentation Variables
      3. Examine Geographic Segmentation
      4. Understand Demographic Segmentation
      5. Learn about Psychographic Segmentation
      6. Investigate Behavioral Segmentation
      7. Define Targeting
      8. Understand Criteria for Targeting
      9. Explore Targeting Strategies
      10. Define Product Positioning
      11. Examine Positioning Possibilities
    • What is market segmentation?
      Dividing a market into distinct subgroups
    • Why is market segmentation important?
      It helps tailor products and marketing strategies
    • What are segmentation variables?
      Factors used to categorize potential customers
    • What is geographic segmentation?
      Dividing markets based on location
    • What is demographic segmentation?
      Segmenting based on measurable population characteristics
    • How does demographic segmentation differ from psychographic segmentation?
      Demographic focuses on measurable characteristics
    • What is psychographic segmentation?
      Grouping based on attitudes, values, and lifestyles
    • Why is psychographic segmentation effective?
      It addresses consumer motivations and beliefs
    • What is behavioral segmentation?
      Dividing customers based on usage and loyalty
    • Why is targeting important in marketing?
      It selects the most promising market segments
    • What are the criteria for selecting a target market?
      Size, competition, compatibility, feasibility
    • What is standardized global marketing?
      Using the same marketing mix for all
    • What is concentrated global marketing?
      Focusing on a single market segment
    • What is differentiated global marketing?
      Targeting multiple segments with different strategies
    • What is product positioning?
      How a company wants customers to perceive a product
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