[Verse 1] When you're building up your brand strategy tonight Start with STP to get your focus right Segmentation cuts the market into pieces Demographics, psychographics never ceases Geographic boundaries, behavioral clues Find your target audience, pick and choose Then positioning maps show where you stand Mental real estate across the land [Chorus] Four P's turning into seven P's Product, Price, Place, and Promotion please Add People, Process, Physical Evidence too Marketing mix will see you through STP framework guides your way Segment, Target, Position every day [Verse 2] Consumer minds follow a decision path Need recognition starts the aftermath Search and evaluate, then purchase time Post-purchase feelings complete the rhyme Anchoring bias sets the mental frame Loss aversion plays the pricing game Reference prices shape what they'll pay Brand equity builds value every day [Chorus] Four P's turning into seven P's Product, Price, Place, and Promotion please Add People, Process, Physical Evidence too Marketing mix will see you through STP framework guides your way Segment, Target, Position every day [Bridge] Cost-plus pricing, value-based and competitive First degree discrimination gets selective Second degree with quantity breaks Third degree when market segments make Bundle strategies and version control Dynamic pricing plays the yield management role [Verse 3] Channel design goes direct or indirect Push and pull strategies to connect AIDA funnel builds awareness high Interest, Desire, Action makes them buy Customer acquisition cost and lifetime value LTV to CAC ratio pulls you through Conjoint analysis designs the best A/B testing puts your theories to the test [Outro] Net Promoter Score measures satisfaction Attribution models track every interaction From segments to positioning maps so clear Marketing management principles you'll remember here
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