Market STP

Market segmentation is:

• the process of dividing a market of potential customers into groups, or segments, based on different characteristics.

• Classifying products into the customers who would most likely want to buy it

The best way to understand your target customers for psychographic segmentation is to use:

• Delphi Oracle Technique

• Observations

• focus groups, surveys, interviews

• Previous statistics

Behavioural segmentation has similar measurements to psychographic segmentation but focuses on specific reactions and the way customers go through their decision making and buying processes. What would be the best way to determine behavioural motivations?

• Review websites

• Past statistics

• Sales records

• Observations

The process of selecting one or more market segments to enter is called market ________.

• targeting

• dominance

• positioning

• segmentation

Establishing and communicating the distinctive benefit(s) of the company's market offering for each target segment is called ________.

• market positioning

• marketing effectiveness

• market segmentation

• market dominance

If a marketer decides to segment a market based on neighborhoods, the marketer will have chosen the ________ method of segmentation.

• demographic

• psychographic

• geographic

• cultural

If a marketing manager segments the market into culture-, sports-, or outdoor-oriented groups, he or she is segmenting the market on the basis of ________.

• behavioral occasions

• user status

• psychographic lifestyle

• readiness stage

In ________ marketing, the firm ignores segment differences and goes after the whole market with one offer.

• niche

• mass

• guerrilla

• segmented

• differentiated

In ________ marketing, the firm operates in several market segments and designs different products for each segment.

• individual

• undifferentiated

• differentiated

• concentrated

• niche

Segmenting a market based on customers' attitudes, opinions, and interests is called

• Demographics

• Psychographics

• Geographics

• Market Segmentation