What is STP?
Modern marketing covers various steps of selling goods and services to customers. There are various techniques and models that the business analyses and opts for best to sell goods and services in the market. One very effective marketing strategy is the STP (Segmentation, Targeting, and Positioning) model. In STP, S means Segmentation, T means Targeting, and P means Positioning. STP marketing example:
Financial Services: A bank (S) segments (STP) by demographics and behavior, targeting (T) young professionals with a good income, who are new to investing. They position (P) themselves as a friendly and educational resource for first-time investors.
Key Takeaways:
- Segmentation means dividing the whole customer base into different subgroups based on their similar characteristics.
- Targeting means deciding which subgroup the company should target to sell its products and services.
- Positioning means placing a good image in the minds of customers about the product.
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