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 (D)</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 (B)</p> Signup and view all the answers

What are the sequential activities involved in the STP process?

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

How does market segmentation benefit organizations?

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

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