Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
6 Cards in this Set
- Front
- Back
|
Why do we need STP (segmentation, targeting, and positioning)? |
Companies need to have a clear message for their audience Each audience requires a different message (Consumers looking for different things) |
|
|
What are the four traditional models of Segmentation? |
1. Behavioral: Usage and commitment 2. Demographic 3. Geographic/Geodemographic 4. Psychographic: Benefits Sought, VALS (Values, Attitude, and Lifestyle) Segment |
|
|
What makes a segment effective? |
Should be: Measurable Differentiated (Customers WITHIN a group should respond similarly) Actionable MECE (Mutually Exclusive and Collectively Exhaustive): Each customer in the market should belong to only one segment |
|
|
What are the three key questions in selecting target segments? |
1. How ATTRACTIVE is this segment? 2. How COMPATIBLE is this segment with our company's offerings and goals? 3. How significant is our COMPETITIVE ADVANTAGE for this segment? |
|
|
What is the difference between a value proposition and positioning? |
Value Proposition captures ALL benefits and costs of an offering Positioning focuses customers' attention on MOST IMPORTANT ASPECTS of the offering's value |
|
|
What is effective Positioning? |
May be able to deliver what you promise Keep it simple Consistency goes a long way (Reposition only when necessary) |
