chapter 9 Flashcards
1
Q
What is the STP process and what are the steps?
A
Segmentation, Targeting, Positioning
Steps:
- establish strategy or objectives
- use segmentation methods
- evaluate segment attractiveness
- select target market
- identify and develop position strategy
2
Q
What is positioning?
A
Defining marketing mix variables so target customer know what the product does.
3
Q
What are perceptual maps?
A
A perceptual map is a visual created to show how your target consumer understands products in your industry.
4
Q
How do firms evaluate the attractiveness of a segment?
A
You must focus your assessment on the potential profitability of each segment, both current and future.
