Question

While STP marketing often produces successful outcomes, there is no guarantee that these successes will last. What factors can erode the successes produced by STP marketing, forcing a firm to reformulate its marketing strategy?

Answer 1

Answer and Explanation:

The STP procedure is a significant part of the marketing. STP represent division, focusing on, and situating. The STP procedure shows the connection between a general market and how an organization ought to go around and contend in that market.

Through Segmentation one can distinguish the Niche advertise with specific prerequisite and customer needs and henceforth can have the option to situate our item in a superior manner once we can recognize the objective markets in the accessible specialty

There are few factors that diminishes the chance of success gained by the STP marketing and they are:

Changes in technology and working pattern

Reformulations of the marketing strategies by the competitors

Change in the consumer preferences.

When above factors changes, it affects the STP Approach in more than one way. If we identify as a part of STP that a particular segment under a niche is using something which is run by some technology but the change in that technology will result in the changing of the strategy. Same applied when competitors change their strategy and it is required to analyze the changed strategy by the competitors and act keeping that changed strategy in mind.

Consumer change in taste and preferences also affects the findings under STP model.