Market Segmentation and Positioning: The STP Process
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Questions and Answers

What is the main aim of both build-up and breakdown methods of market segmentation?

  • To identify market segments with identifiable differences and member homogeneity (correct)
  • To identify market segments with no identifiable differences and member heterogeneity
  • To identify market segments with member heterogeneity but no identifiable differences
  • To identify market segments with both identifiable differences and member heterogeneity

    • Which approach to market segmentation identifies markets consisting of similar customers?

  • Build-up method (correct)
  • Segment heterogeneity method
  • Breakdown method
  • Member homogeneity method

    • What are the main criteria used for segmenting consumer markets?

  • Geographic, Demographic, and Profile criteria
  • Behavioural, Psychological, and Profile criteria
  • Behavioural, Psychological, and Geographic criteria
  • Geographic, Demographic, and Behavioral criteria (correct)

    • What does psychological criteria focus on in market segmentation?

    <p>Why the market behaves that way</p> Signup and view all the answers

    What is the purpose of the STP process in marketing?

    <p>To enhance a company's competitive position</p> Signup and view all the answers

    What are the sequential activities involved in the STP process?

    <p>Segmentation, targeting, positioning</p> Signup and view all the answers

    How does market segmentation benefit organizations?

    <p>By focusing on specific customer needs in an efficient way</p> Signup and view all the answers

    What is the relationship between market segmentation and product differentiation?

    <p>Product differentiation strategy emphasizes differences between products or competitors</p> Signup and view all the answers

    What does the STP process enable companies to match effectively and efficiently?

    <p>Company resources and customer needs</p> Signup and view all the answers

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