Ch. 9 Segmentation, Targeting, and Positioning (STP)

Flashcards covering key concepts from Chapter 9 on Segmentation, Targeting, and Positioning (STP) in marketing.

Segmentation

The process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors.

Demographic Variables

Physical characteristics that can be measured and observed, such as age, gender, income, and educational status.

Behavioral Variables

Variables describing consumers' behaviors, including usage patterns, loyalty status, and purchasing behavior.

Attitudinal Variables

Variables that capture consumers' thoughts, feelings, and beliefs, reflecting their opinions and perceptions towards products.

Targeting Strategies

Methods for selecting which segments to serve, including undifferentiated, differentiated, concentrated, and micromarketing.

Positioning Statement

A statement that outlines how a product or brand should be perceived in the market and defines its unique value to the customer.

Market Boundary

The definition of the business scope and context in which a product or service competes.

Five-Box Positioning Tool

A framework used to analyze and craft positioning strategies by mapping current beliefs, desired beliefs, current actions, and desired actions.

Dynamic Benefit

A benefit provided by a competitor that can change over time as market conditions and consumer expectations evolve.

Main Benefit

The primary benefit offered by a product category that differentiates it from competitors.