STP Model and Market Segmentation Quiz

OrganizedPermutation avatar
OrganizedPermutation
·

Start Quiz

Study Flashcards

32 Questions

Psychographic segmentation divides buyers into different groups based on social class, lifestyle, or personality traits.

Behavioral segmentation divides buyers into groups based on their knowledge, attitudes, uses, or responses to a product.

Geographic segmentation divides the market into different geographical units such as nations, regions, states, counties, or cities so they differ in the climate, nature, etc.

Demographic segmentation divides the market into groups based on variables such as age, gender, family size, family life cycle, income, occupation, education, religion, race, generation, and nationality.

Market segmentation is the process that companies use to divide large markets into small markets that can be reached more efficiently and effectively with products and services that match their unique needs.

The STP model stands for Segmentation, Targeting, and Positioning.

Market targeting involves tailoring brands and promotion to the needs and wants of local customer groups. Is this statement true or false?

Undifferentiated marketing targets several different market segments and designs separate offers for each. Is this statement true or false?

Individual marketing involves tailoring products and marketing programs to the needs and preferences of individual customers. Is this statement true or false?

Concentrated marketing targets a small share of a large market. Is this statement true or false?

Micromarketing is the practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations. Is this statement true or false?

Market segments must be diverse in order to be useful. Is this statement true or false?

Product position refers to the place the product occupies in consumers' minds relative to competing products. Is this statement true or false?

Competitive advantage can be gained through either lower prices or by providing more benefits that justify higher prices. Is this statement true or false?

Differentiated marketing targets the whole market with one offer. Is this statement true or false?

Market variability does not affect the choice of target market. Is this statement true or false?

What are the main variables used in demographic segmentation?

What does STP stand for in the context of marketing?

What is the purpose of market segmentation?

What are the three main segmentation approaches for consumer markets?

What is geographic segmentation based on?

What is the STP model used for in marketing strategy?

What is the goal of differentiated marketing?

What is the practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations known as?

What does product position refer to?

What is the advantage of local marketing?

What does market targeting involve?

What is the STP model?

What does behavioral segmentation divide buyers into groups based on?

What does demographic segmentation divide the market into groups based on?

What does psychographic segmentation divide buyers into different groups based on?

What is the main advantage of concentrated marketing?

Description

Test your knowledge about market segmentation and the STP (Segmentation, Targeting, Positioning) model used by companies to reach potential customers more effectively. This quiz covers the process of market segmentation and the requirements for effective segmentation in consumer, business, and international markets.

Make Your Own Quiz

Transform your notes into a shareable quiz, with AI.

Get started for free

More Quizzes Like This

STP Decision Making
6 questions
STP Decision Making
RighteousObsidian avatar
RighteousObsidian
STP Concepts Quiz
5 questions
STP Concepts Quiz
ElatedOnyx3469 avatar
ElatedOnyx3469
STP Model and Market Segmentation Quiz
5 questions
Wat is vastgoedmarketing?
10 questions
Wat is vastgoedmarketing?
SnappyWildflowerMeadow avatar
SnappyWildflowerMeadow
Use Quizgecko on...
Browser
Browser