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STP MODEL (*Market Segmentation (Evaluate the segmentation for viability…
STP MODEL
*Market Segmentation
Define the Market
Industry Classification
Product Category
Country
Create Market Segmentation
Geographic Segmenattion
States
Nations
Region
Cities
Countries
Neighbourhoods
Psychographic
Personality
Life style
Demographic
Age
Gender
Family life cycle
Occupation
Nationality
Education
Generation
Income
Religion
Behaviouristic
Occasion
User status
Usage rate
Loyalty status
Buyer readiness stage
Evaluate the segmentation for viability
Homogeneous
Heterogeneous
Measurable
Substantial
Accessible
Actionable
Responsive
Construct Segment Profile
Evaluate the Attractiveness of each segment
Select target Market
Firms Strategy
Attractiveness of the segment
Competitive Rivalry of the segment
Firms ability to successfully compete and so on
Developing Positioning Strategy
Develop and implementing the marketing mix
Review Performance
Market Positioning
Successful Key
Consistency
Competitiveness
Credibility
Clarity
Methods
Specific product features
Benefits or solutions
Usage for specific Occassions
User category
Uncommon Product Class
Variables
Against the Competitor
Benefit Positioning
Product Category Leader
Unique Selling Proposition
Quality / Price Positioning
Market Targeting
Strategies
Undifferentiated Marketing
Differentiated Marketing
Customised Marketing
Focussed Marketing