The STP framework: market segmentation, targeting strategies, and positioning a product against competitors.
34 cards · basic cards · AI-written, checked twice. Edit anything.
- What is market segmentation?
Show answer
Dividing a market into distinct groups with different needs, preferences, or characteristics.- What is targeting in marketing?
Show answer
Selecting which market segments a company will pursue and focus its marketing efforts on.- What is positioning?
Show answer
Creating a distinct image or place for a product in the consumer's mind relative to competitors.- Name the three main phases of the STP framework.
Show answer
Segmentation, Targeting, and Positioning.- What are demographic segments?
Show answer
Groups of consumers defined by age, gender, income, education, and family status.- What are psychographic segments?
Show answer
Groups of consumers defined by lifestyle, values, interests, attitudes, and personality traits.- What are behavioral segments?
Show answer
Groups of consumers defined by purchase habits, usage rates, brand loyalty, and buying occasions.- What are geographic segments?
Show answer
Groups of consumers defined by location, such as country, region, city, climate, or urban versus rural.- What is undifferentiated targeting?
Show answer
Marketing to the entire market with one standardized product and marketing message.- What is differentiated targeting?
Show answer
Offering different products or marketing mixes to different market segments.- What is concentrated targeting?
Show answer
Focusing marketing efforts on one specific market segment with a specialized product or message.- What is micro-targeting?
Show answer
Using detailed data and technology to reach very specific small groups or individual consumers.- What is a value proposition?
Show answer
The unique combination of benefits and value that a product or brand offers to customers.- What is competitive positioning?
Show answer
Establishing a product's place in the market by defining how it differs from and compares to competitors.- Why is market segmentation important?
Show answer
Because different consumers have different needs, preferences, and buying behaviors, so one product cannot satisfy everyone equally.
FlashKeepers