Understanding Segmentation, Targeting & Positioning
Started 7 months ago by Shashank in General, Prepration, GDPI
The Holy Grail of Marketing
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The STP Marketing Model, which stands for Segmentation, Targeting, and Positioning, is a fundamental framework businesses use to create effective marketing strategies.ย
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Segmentation:
- Segmentation involves dividing the market into distinct groups based on shared characteristics.
- These characteristics can include demographics, psychographics, behavior, or geographic factors.
- The goal is to recognize different consumer needs, preferences, and behaviors within each segment.
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Targeting:
- Targeting is selecting one or more segments to focus on for marketing efforts.
- It helps businesses allocate resources effectively and tailor their marketing messages.
- By targeting specific segments, companies can better reach their ideal customers.
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Positioning:
- Positioning defines how a brand wants to be perceived in the minds of consumers.
- It emphasizes the unique benefits and value a product or service offers.
- Brand positioning differentiates it from competitors and connects emotionally with the target audience.
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