Question

In the context of the marketing management framework, do the 4Ps precede STP?

1) True
2) False

Answer 1

The 4Ps do not necessarily precede STP in the marketing management framework.

Step-by-step explanation:

In the context of the marketing management framework, the 4Ps do not necessarily precede STP. The 4Ps refer to the marketing mix, which consists of Product, Price, Place, and Promotion. STP, on the other hand, stands for Segmentation, Targeting, and Positioning.

While the traditional marketing approach suggests that the 4Ps should be determined before implementing STP, modern marketing strategies recognize the importance of understanding the target market and its needs before deciding on the specific elements of the marketing mix. In other words, it is essential to first segment the market, select the target segment, and position the product or service in the market before deciding on the optimal product, price, place, and promotion strategies.