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STP Model (Marketing Segmentation (Evaluate the segments a set of criteria…
STP Model
Marketing Segmentation
Define the market for the organization
By industry classification
By product category
By country
Create market segments
Segmentation variables
Geographic segmentation
Nation
States
Regions
Cities
Countries
Neighbourhoods
Demographic Segmentation
Age
Gender
Education
Family life cycle
Occupation
Religion & Race
Generation
Income
Nationality
psycographic segmentation
Personality characteristics
Life styles
Behaviouristic segmentation
Occasion
User status
Usage rate
Loyalty status
Buyer readings stage
Evaluate the segments a set of criteria
Homogeneous
Heterogeneous
Measurable
Substantial
Accessible
Actionable/practical
Responsive
Construct segment profile
Evaluate the attractiveness of the segments
Select target market
Factors
Firm strategy
The attractiveness of the segment
The competitive rivalry of the segment
The firm's ability to successfully compete
Develop positioning strategy
Develop & implement marketing mix
Review performance
Product positioning
Keys to successful positioning
Clarity
Consistency
Credibility
Competitiveness
Positioning methods
Specific product features
Usage for specific occasion
Bene or solutionsfits
User category
Uncommon product class
Positioning variables
Benefit positioning
Product category leader
Against the competitor
Unique selling proposition
Quality/price positioning
Market targetting
Target marking strategies
Undifferentiated marketing
Differentiated marketing
Focused marketing
Customised marketing