Market Segmenting, Targeting, and Positioning
Completion requirements
Let's consider segmenting, targeting, and positioning (STP), known as the strategic marketing formula that helps marketers identify and segment their audience, target their market, and post their products to cultivate their desired brand position.
Selecting Target Markets and Target-Market Strategies
REVIEW QUESTIONS
- What factors does a firm need to examine before deciding to target a market?
- Which of the segmenting strategies discussed in this section is the broadest? Which is the narrowest?
- Why might it be advantageous to create low-cost products for developing countries and then sell them in nations such as the United States? Do you see any disadvantages of doing so?