Question

1) What can marketing do? List three key points.

2) What are the 3Cs and 4Ps of marketing?

3) What does the STP of marketing mean? Please explain.

4) What is behavioral segmentation? List three behavioral segmentation variables.

5) Which segment(s) should I target? Briefly describe the three criteria.

6) What is the BCD process of positioning?

Answer 1

1)

i. Marketing Widens the Market

ii. Marketing Facilitates Exchanges in the Ownership and Possession of Goods and Services

iii. Marketing Helps in Optimal Utilization of Resources

 

2)

3 C of marketing

It consists of the company, the customer, and the competition, which are the three critical components to creating a successful strategy. 

The 3 Cs could be phrased as the following three questions:

1. Company - Is this something our company (organization) can create, develop, or deliver successfully?
2. Customer - What does the customer need, and how can we meet that need whether expressed or latent?
3. Competition - What is the competition doing in this area, and how can we differentiate ourselves?

 

4 Ps of marketing

he four Ps of marketing—product, price, place, promotion—are often referred to as the marketing mix. These are the key elements involved in marketing a good or service, and they interact significantly with each other. Considering all of these elements is one way to approach a holistic marketing strategy.

 

3)

STP marketing is an acronym for Segmentation, Targeting, and Positioning – a three-step model that examines your products or services as well as the way you communicate their benefits to specific customer segments.

 

In a nutshell, the STP marketing model means you segment your market, target select customer segments with marketing campaigns tailored to their preferences, and adjust your positioning according to their desires and expectations.

 

4)

Behavioral segmentation refers to a process in marketing which divides customers into segments depending on their behavior patterns when interacting with a particular business or website.

 

3 types of behavioral segmentation are:

i. Segmentation based on purchase and usage behavior

ii. Occasion or timing-based segmentation

ii. Benefits sought segmentation

 

5)

Segment should be chosen based on product . 

Three criteria for choosing the segment is based on the demographic, psychographic and geographical location to the user.

 

6)

Positioning refers to the place that a brand occupies in the minds of the customers and how it is distinguished from the products of the competitors and different from the concept of brand awareness. Primarily, positioning is about "the place a brand occupies in the mind of its target audience".

1)

i. Marketing Widens the Market

ii. Marketing Facilitates Exchanges in the Ownership and Possession of Goods and Services

iii. Marketing Helps in Optimal Utilization of Resources