Question

Larry is asked to conduct an STP analysis for his firm. The first step he should perform in this analysis is to: A. develop a business mission statement.B. choose the best target markets.C. reposition existing segments.D.divide the marketplace into subgroups.E. conduct a SWOT analysis

Answer 1

The first step he should perform in this analysis is to conduct a SWOT analysis.

Explanation:

For larry to conduct the STP analysis he needs to conduct a SWOT analysis to be able to get his segment, targeting and positioning model in for the firm.

SWOT analysis will make Larry consider his Strength, Weakness, Opportunities and Threats in the segment it is investing in and any target market it is opting to go into.

This will help the firm to always know its position in the market.

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