ADM 2320 Chapter Notes - Chapter 6: Ideal Point, Profit Margin, Micromarketing
20 Sep 2017
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This is where we are going to go into detailed what is the stp process. Step 1 - establish overall strategy or objective. This is the first part of the segmentation. Marketers need to articulate the mission and the objectives of the company"s marketing strategy clearly. This has to be consistent with the company"s mission and objectives. Swot analysis should be done, so marketers can understand their current situation. This is the second step of the segmentation process. This is where the segments in the market are created. These segments may be created because of different, wants, needs, and characteristics. This can help a company understand what segment is the most appropriate for them. The grouping of consumers on the basis of where they live. Continent, country, region, province, city, urban, suburban, rural, climate. The grouping of consumers according to easily measures, objective characteristics.
