W2

Question 1

What does the STP process stand for in marketing?

Answer 1

• Segmentation
• Targeting
• Positioning

The STP process links strategy and marketing.

Question 2

What is the purpose of Segmentation in marketing?

Answer 2

• Divides the market into distinct groups
• Reduces risk
• Increases marketing efficiency
• Improves understanding of customers

Examples of segmentation include geographic, demographic, psychographic, and behavioral factors.

Question 3

What are types of 5 Targeting strategies?

Answer 3

• Mass (everything to everyone)
• Differentiated (large groups within the segment)
• Niche (high concentration in a small market)
• Micromarketing (individuals in a small market)
• Multi-Segment (targeting different segments within the same market)

A leveled strategy is a multi-segment approach identifying primary, secondary, and tertiary segments.

Question 4

What is a Positioning statement?

Answer 4

• Identifies the target
• Defines the frame of reference
• Articulates the point of difference
• Provides a reason to believe

Positioning defines how a product or brand is perceived in the minds of the audience.

Question 5

True or false: Repositioning requires a long-term commitment and intimate product understanding.

Answer 5

TRUE

Repositioning may be necessary due to competitive advantage, market shifts, adapting to consumer trends, or internal company changes.

Question 6

What is the purpose of the BCG MATRIX?

Answer 6

To allocate resources among products

The BCG Matrix helps in analyzing product portfolios.

Question 7

What does the ANSOFF MATRIX evaluate?

Answer 7

Growth and new market opportunity

The Ansoff Matrix is a strategic tool for assessing market growth strategies.

Question 8

diversification stratification

Answer 8

(ansoff) new market + new products =

Question 9

market development strategy

Answer 9

(ansoff) new market + current products =

Question 10

product development strategy

Answer 10

(ansoff) current market + new products =

Question 11

market penetration strategy

Answer 11

(ansoff) current market + current products =

Question 12

dogs

Answer 12

(bcg) low market share + low market growth =

Question 13

cows

Answer 13

(bcg) high market share + low market growth =

Question 14

stars

Answer 14

(bcg) high market share + high market growth =

Question 15

question marks

Answer 15

(bcg) low market share + high market growth =