Author Question: Using a product that you have used in the past week as an example, explain the difference between ... (Read 67 times)

RYAN BANYAN · **on:** Jun 28, 2018

Using a product that you have used in the past week as an example, explain the difference between segmenting and targeting in the STP approach to marketing.

Question 2

Marketing managers generally focus their efforts on the elements of the marketing mix, which include all of the following EXCEPT
a. product.
b. price.
c. promotion.
d. purpose.
e. place.

Pariscourtney · **Reply #1 on:** Jun 28, 2018

Answer to Question 1

Segmenting is the breaking down of diverse markets into manageable segments. Common ways to approach this are through demographic and geographic segmentation, psychographic and lifestyle segmentation, and benefit segmentation.
Targeting is choosing the specific segments for the focal point of marketing efforts. Often, the largest segment is not chosen as the target.

Answer to Question 2

d