CHAPTER 5 STP

What are the 4Ps of marketing?

• Publicity, Packaging, Pricing, Positioning

• Planning, Production, Packaging, Placement

• Profit, People, Process, Product

• Product, Price, Place, Promotion

Why is market segmentation important in marketing?

• To target specific customer groups effectively

• To increase overall market size

• To reduce competition

• To lower product prices

Why is it essential to identify target customers based on demographics and psychographics?

• To tailor marketing strategies to specific consumer groups.

• To increase overall market share.

• To eliminate competition from the market.

• To reduce the cost of advertising.

What is the primary benefit of demographic segmentation in marketing?

• Understanding consumer characteristics and behaviors.

• Expanding the target market globally.

• Increasing product prices for higher profits.

• Reducing the need for market research.

What is the main focus of segmenting customers based on demographics and lifestyle?

• Income levels

• Geographical location

• Product pricing

• Social media usage

Why is it important to consider customer benefits when selecting products?

• To increase production costs

• To limit product variety

• To improve customer satisfaction

• To reduce marketing efforts

Why is it important to target a specific age group for marketing?

• To reduce marketing costs

• To reach a wider audience

• To increase brand awareness

• To tailor marketing strategies effectively

What is the significance of differentiated targeting in marketing?

• To focus on a single market segment

• To reduce competition in the market

• To target multiple market segments individually

• To monopolize a specific market segment

What is the main focus of concentrated marketing strategies?

• Randomly promoting products

• Ignoring customer preferences

• Focusing on specific market segments

• Targeting a broad audience

How does successful positioning impact consumer perception?

• It limits market reach

• It reduces product quality

• It influences brand loyalty

• It increases product prices