Relationship between Segmentation, Targeting, and Positioning
Marketing mix undertakes activities like segmentation, targeting, and positioning, namely STP. These activities are interlinked and sequenced to form an optimal marketing mix. The very first step is segmentation. Segmentation involves dividing the whole customer base according to their needs, preferences, age, gender, etc. Segmentation tells us how a particular segment of customers tends to behave similarly.
After dividing the whole customer base into segments, businesses choose the optimal segment(s) for their products. This process is known as Targeting. Targeting involves choosing the right customer segment(s) for the product. After targeting, there comes Positioning. Positioning involves activities of creating an image in the minds of the customer base, the base that gets chosen in the targeting process.
STP Marketing – Segmentation, Targeting, and Positioning
Reaching the right people with your business’s message is key. That’s where the STP marketing model comes in handy. STP stands for Segmentation, Targeting, and Positioning. It’s a strategy that helps businesses figure out who their most important customers are, focus their marketing efforts on these groups, and make sure their brand stands out from the competition.
Here, we’ll break down the STP model into easy-to-understand parts and show you how to use it to improve your marketing.
Table of Content
- What is STP?
- What is Segmentation?
- What is Targeting?
- What is Positioning?
- Importance of STP Marketing
- Benefits of STP Marketing
- Relationship between Segmentation, Targeting, and Positioning
- STP Marketing Example
- How to Build an STP Marketing Strategy
- Conclusion
- Frequently Asked Questions on STP