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STP: Segmentation, Targeting, Positioning
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What does STP stand for in marketing?
Segmentation
,
Targeting
, and Positioning
What are the steps involved in the STP process?
Define Market Segmentation
Explore
Segmentation Variables
Examine
Geographic Segmentation
Understand Demographic Segmentation
Learn about
Psychographic Segmentation
Investigate
Behavioral Segmentation
Define
Targeting
Understand Criteria for Targeting
Explore Targeting Strategies
Define Product
Positioning
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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