3.3b STP: Market Segmentation

Question 1

What does STP stand for?

Answer 1

• Segmentation
• Targeting
• Positioning

Question 2

Segmentation involves the business

Answer 2

1. Identifying characteristics to divide the market into

2. Gathering a profile of its consumers in each one of these segments

Question 3

Market segment definition

Answer 3

Part of a market which exists to serve a group of customers with specific needs and wants

Question 4

Two ways segmentation can be done

Answer 4

• Demographically

- Geographically