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Transcript
Done by:
Anna Garvey Nicholas Stirling
Euan Ramsay Shana Faraghat
Summary-
- Explored the meaning of market segmentation & STP.
- Identified how markets can be segmented.
- Showed how to select the appropriate target market.
- Described the principle of positioning.
- Understood how to develop & implement positioning strategies.
STP
Segmentation, Targeting and Positioning
An approach that identifies a businesses most valuable segment and then successfully sell to them through targeting and marketing of the product or service
Targeting-
identifying which group of customers to aim for (Alsem, 2008).
offerings are differentiated from one another to give customers a reason to buy (Kostelijk, 2008)
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Objectives-
- Explore the meaning of market segmentation & the process of STP.
- Identify different ways in which markets can be segmented.
- Show how to evaluate & select the appropriate target market.
- Describe the principle of positioning.
- Understand how to develop & implement positioning strategies.
Segmentation-
identifying similar groups of customers (Lynn, 2011)
Market segmentation:
the division of a mass market into distinct and identifiable groups, within which individuals have common characteristics (Toften, 2009).
Ways of Segmentation-
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