The First Step in the STP Process Is to

question 134

Multiple Choice

The first step in the STP process is to

• A) identify the segmentation methods to be used.
• B) produce a list of strengths and weaknesses of the firm's past marketing strategies.
• C) clearly articulate the firm's vision or marketing strategy objectives.
• D) select target markets.
• E) develop a marketing mix,so that an appropriate segment can later be identified.

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Definitions:

Predict

To predict means to declare or indicate a future event or outcome based on observation, reasoning, or scientific evidence.

Time Spent

The duration or period during which an action takes place or an individual is engaged in a particular activity.

Mean

The average of a set of numbers, calculated by adding them all together and then dividing by the total number of values.

Central Tendency

A statistical measure that identifies a single value as representative of an entire distribution of data, commonly the mean, median, or mode.