MKTG 300 FU STP In Marketing Paper

Description

View the recording of the class meeting, taking notes as you watch. Create a Word document in which you:

Prepare a two-page outline of the session. *Note: this is an outline, not a paper. Bullet points, phrases, sentence fragments, charts, etc. are okay.
During the session, your professor will ask your classmates to do an activity. You are to mimic their activity. In 1-2 paragraphs at the end of your outline, provide your “answer” as if you were doing the activity.STP in marketing (strategies used in Segmenting)
Jasmine adkins
Franklin University
Mktg 300: Marketing
Professor : Bonina
4/23/23
I. Introduction
A quick summary of the STP marketing model
The significance of the STP model in marketing defined
The STP model is explained in terms of how it might help a burger joint differentiate itself in a
crowded industry.
Justification of why STP matters while picking a location for a burger joint
Definition of the ideal consumer and how STP might help a burger joint attract them
The value of STP in shaping a burger joint’s advertising strategy is discussed.
II. Finding a gap in the market to fill
Finding market needs requires conducting research.

Market research techniques (such as questionnaires, focus groups, etc.)

The value of market research in revealing gaps in supply and demand.
Finding the burger joint’s niche market

Definition and significance of USP (unique selling proposition)

Sustainable products, personalization possibilities, and so on are all potential selling
points for a burger joint.
III. Market Segmentation Criteria
Demographic Variable (Considerations of age, gender, income, and level of education)

Market segmentation using demographic variables is explained.

Methods for identifying key customer segments for the burger joint are discussed.
Lifestyle, personality, and value factors are examples of psychographic variables.

Methods for market segmentation based on psychographics are discussed.

Methods for identifying the most pertinent psychographic characteristics of the burger
joint’s ideal customer are discussed.
Behavior Variables (desired advantages, brand loyalty, frequency of use)

Methods for market segmentation based on consumer behavior are discussed.

Methods for identifying the customers most likely to frequent the burger joint are
discussed.
IV. Targeting Strategy
Identifying the most lucrative markets to focus on
How to identify the most lucrative markets to focus on
Discussion about criteria for deciding on market niches
Creating specific marketing plans for each subgroup

Detailed steps for creating segment-specific marketing plans

Examples of segment-specific marketing tactics are discussed.
Analyzing how efficient the targeting method is

Methods for determining the success of a targeting initiative are outlined.

Evaluation of the targeting approach and the measures to utilize in measuring its success
are discussed.
V. Positioning
Building the burger joint’s reputation and name from the ground up

Definition of brand identity and discussion of its significance.

Branding and image strategies for the burger joint are discussed.
Setting themselves apart from similar burger joints

Justification for why it’s crucial to set the burger restaurant apart from rivals

Differentiating the burger joint from its competitors is a topic of discussion.
Making your product or service seem better than it actually is to potential buyers.

Justification for the significance of fostering an image of superiority in the eyes of
consumers.

Methods for influencing consumers’ perceptions of your brand’s superiority are discussed.
VI. Strategies for Communicating in Marketing
Making a detailed strategy for spreading marketing messages

Definition and significance of a marketing communication strategy.

Creating a complete marketing communication strategy for the burger joint is the topic of
this discussion.
Finding the best ways to get your message out there

Methods for determining the best methods of communicating with a specific
demographic

The best ways to get the word out about the burger joint are discussed.
Producing persuasive communications that reach each target audience

Details on how to tailor your communications to each audience subset

Messages that might connect with each subgroup and why they might
Final Thoughts

A brief overview of the STP model and why it matters for a burger joint’s placement
Brief review of the outline’s main points

How the STP model may help a burger joint thrive in a cutthroat industry

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