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STP (Segmentation (Segmentation Scheme (distinctive, identifiable/…
STP
Segmentation
Segmentation Scheme
distinctive
identifiable/ observable
Large enough
stable
measurable
easy to implement
Bases for segmentation
demographic
gender
age
race
birth era
Generation X (1965-1976)
Generation Y (1977-Present
Baby boomer (1949-1964)
life stage
household size
residence tenure
marital status
socioeconomic
income
education
occupation
geographic
city size
metropolitan area
religion
density
Buying situation
usage
awareness and intentions
behavior
benefits sought
outlet type
psychographic
values
lifestyle
personality
Techniques for segementation
Plot each customer
Form clusters or segments
minimize across cluster similarity (increase distance)
maximize within cluster similarity (reduce distance)
greater the similarity => less the distance
Targeting (select target markets based on a weighted index)
competitive intensity
undeserved needs
competitors' strength
company's "fit"
objectives
competencies
customer base
resources
market opportunities for profit
rate
growth
size
Positioning
Positioning Map
Strategic use of perceptual maps
perceptions of a new product concept
direct R&D to satisfy new customers better
understand market structure
Positioning stratefies
by product user
with respect to product class
by use/occasion
with respect to compoetitor
by price/ quality
by emotion
by benefit
by attribute
Positioning Statement
our products offers (benefits offered)
relative to (competitive alternatives)
to customers who are (target summary)
because (reason to believe)