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Your marketing professor, Dr. Murphy, has been asked to participate in the university's strategic marketing planning process. After completing the planning phase of the process, Dr. Murphy has been asked to assist with the STP analysis. What questions will Dr. Murphy ask during the STP analysis? Be specific to the university's strategic marketing planning process.

STP analysis includes segmentation, targeting, and positioning. Dr. Murphy will ask questions such as: What basis for segmentation should be used? Should the university's market be divided based on age, income, geographic area, or maybe educational interests? After segmentation, which segments can be pursued profitably, or targeted? Many market segments will likely be identified, but Dr. Murphy will often have to ask: Can we effectively and efficiently reach that group of potential consumers? (For example, one university considered providing educational services to a local prison but ran into a host of problems making it impossible to target that market.) Last, Dr. Murphy will ask questions about how the university intends to position itself in the various market segments: What products or services are going to be promoted? How are the university's products and services different from what competitors are offering? Where and how can the university build on existing strengths?

AACSB: Knowledge Application Blooms: Apply Difficulty: 3 Hard Learning Objective: 02-04 Describe how a firm chooses which consumer group(s) to pursue with its marketing efforts. Topic: Strategic Marketing Planning

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