STP Lecture

Question 1

Common Segmentation Variables:

Answer 1

Geographic (region, city size, zip code, etc)
Demographic (Age, cohort - shared generational experiences, sex, etc.)
Psychological (Need/motivation, personality, perception)
Psychographic
Sociocultural (Culture/subculture, religion, social class)

Question 2

Segmentation Variables Categories:

Answer 2

Use Related (usage rate, awareness status, brand loyalty)
Use situation (Time, objective, location)
Benefit (that customer wants to get)
Hybrid (combining variables - it's best to only combine a few variables)

Question 3

Micro Segmentation:

Answer 3

Moving toward a segment of one, the most recent trend

Question 4

Four Pillars of Customer Management:

Answer 4

Identify, differentiate, interact, customize

Question 5

CRM Systems:

Answer 5

Customer loyalty program

Question 6

Positioning Statement:

Answer 6

To (target segment and need) our (brand) is the (concept) that (point to differences)

Question 7

Heuristics:

Answer 7

• Price
• Habit
• Normative
• More is better