Segmentation Targeting And Positioning Flashcards
How do we crest value for targeted customers
We select the customers that we are going to serve and decide on the value proposition that we are going to offer
What is segmentation
The idea that we can divide the total market into smaller segments and understand what those customer wants and needs are more specifically
What is targeting
Selecting the target segment that the product/ service is going to be marketed to.
What is differentiation
Delivering something different that creates superior customer value
What is positioning
Positioning the market offering (product or service) in the minds of the target customer
What are benefits of the STP process
Enhances a company’s competitive position
Examines and identified market growth opportunities
Effective and efficient matching of company resource services
What are the variables consider in segmentation
Geographic
Demographic
Psychographic
Behavioural
