STP OF BYJUS

INTRODUCTION OF STP PROCESS

Market manager of the organizations has goal to create values for the
customers and build profitable relationships with customer. Customers are the king of market. So
marketing strategy is logically satisfied need and wants of customers. Now it is very difficult for
a company to create customer value and how to achieve profitable relationships. Firstly a
manager has to decide which customers they have to serve. For this company follow the STP
process. The STP process is important for study market and customer’s needs and preferences. It
is a most familiar strategy used by the companies in the market. In this process STP Stands for-:

SEGEMENTTION

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TARGETING POSITIONING

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Selecting one or Develop postioning of
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segments

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This model is introduced to analyze the market. As an Organization, it cannot sold goods to
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everyone in the market because It may depends upon the purchasing power of the customers,
needs and wants etc. So a marketing manager proper analyze the market to find out the right
customers who really want these products and company could get profit out of it. It is a
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continuous process started from segmentation and ends with positioning. The company should
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never neglect the importance of customer needs and wants while applying market strategy by
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delivering superior value. So that a company can survive in the competitive market.
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 SEGMENTATION
Segmentation is the first step in the STP Process. Segmentation means divided market into
different groups. As a company cannot provide products to all the customers in the total market.
There is a various type of customers having different need and wants in the market. Company on
the behalf of their strengths and opportunities, characteristics and behavior divide market into
various segments.

WHY BYJUS SEGMENT THEIR MARKET

 TO BECOME MORE EFFICIENT – Segmentation helps in marketing effort more

efficient and economic while concentrated on different segments. There are limited
resources and company has to use it carefully. So they cannot target all the market
without any detention.

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TO FACE COMPETITION – Every industry has different company in which company

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have neck to neck competition in their respective industry. Every company choose their

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segment for their product. A company has to face competition because other company
also select same segment

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BUILD THEIR BRAND – Effective segmentation helps to build up their brand. When a
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company divide segment bases on market strategy. And it is up to the mark. Customers
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shows their interest in the company product which instantly increase their brand value.
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DIFFERET VARIABLES OF SEGEMENTATION

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1. Geographical - In this Segmentation, company do segments on the basic on factors such

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as climate zone, country region, state, rural/urban areas. Market manager segment the
customers globally. In India, A manager do segment on the basics of zones, district, urban
and rural areas. Manager considered north and south zone are different segment for
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target.
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2. Demographic – In This Segmentation, company do segments on the basics of age,

income, religion, gender, language, marital status and family size. Manager by carefully
analysis the market decide which segments are beneficial for company. Customer needs
and wants are vary closely with demographic variables.
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3. Psychographic – In this Segmentation, segments are divided on the basics of behavior.

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Behavior is based on personality and emotions. Variables come under this segmentation
including attitudes, lifestyles, hobbies and personality types. Like a demographic
segmentation show “Who your buyer is”, and Psychographics show “why your customer
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buys”. People in the same demographic segments have different psychographic traits.
4. Behavioral – In this Segmentation, Segments are divided on the basics of knowledge,
customer’s usage rate, loyalty shown by customers towards brand, occasionally –
especially on festivals and attitude towards product. This is the best segments. Marketers
get better response in this market segment. A company can also get feedback regarding
their product form estimated this segment.

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 BYJUS SEGMENT VARIABLES
There are lot of companies in the education industry. Byjus to face completion or survive in
the market mainly depend on the demographic segmentation. In this segment customers’
needs are vary closely to the market segments. Byjus choose age, education and income
segments for their product or services.
AGE - Customer need and wants are change time to time with age. There are many types like
children under 6, young age, mature age or old age people. Customer on the basics of their
product characteristics select which is best for them.
INCOME – Income also important variable which company have to choose which income
segment has best for business. A market manager based on the purchasing power of the
customer regarding the product is considered. Low income group, middle group and high
group.

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EDUCATIONAL – Education industry while providing material, online coaching has to

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decide which segment they have to target. In this segment, students may be school, colleges,

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graduate, post graduate or several competitive exams.

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TARGETING rs e
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After Segmentation the next step in the STP process is Targeting. For an organization, serving
product to all segments is not possible. In Targeting, Byjus Company evaluated each segment
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attractiveness for company. So company by doing analysis and finalize the segments which the
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company has to target and which helps in creating value out of it. There are 4 types of target
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market Strategy. Company on the basis of product characteristics select the target market
segments.
MASS MARKEITING – In this Market strategy, company may decide to ignore the segments
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and treat whole market as target. The market strategy mainly focused on what is common needs
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of the customer rather than on what is different needs of customers. A large number of buyer
attract to this market strategy. This market strategy is also known as undifferentiated marketing.
SEGMENTED MARKETING – In this market strategy, a company decides to target several
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market segments and provide different offers to each segment. Company wants higher profit and
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increase in their value in each and every segments.

NICHE MARKET – In this market strategy, instead of target several market segments, a
company choose large number of share in few market segments. In this company know about the
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taste and preferences of customer which shows strong market position.

MICRO MARKETING – In this strategy, marketer do the customization according to the taste
and preferences of customer in various segments. It includes both local and individual marketing.
This is all done to meet the need of segments.

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 BYJUS CHOOSE TARGETING STRATEGY
There a 4 type of market strategy. Company based on their preferences or benefit choose the
market strategy in which various segments are cover. Byjus as a company choose Niche
marketing strategy for targeting different market segments. Byjus set a large share in the one or
more segments on the basic of what customer wanted and gaining profit out of it. Byjus Target
the young age students which studied in class from 6th to 12th. They provide online notes, online
coaching, mock tests etc. so that they achieve good marks in their perspective subjects. Byjus
target the students which are studied in school. School students have huge stress regarding the
subjects. Byjus by providing familiar coaching classes target this segment. Byjus have different
offers and courses according to the income of customers. There are various type of courses. So
that middle age group people also buy the courses according to their purchasing power.

POSITIONING AND DIFFERENTIATION

After Segmentation and Targeting, Last step in STP process is positioning. Now Company define

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their different market segments and also select the targeting segments for the launch of product.

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Positioning helps in differentiate the product from their competitors. Marketer arranged for

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product to occupy an image in Target customer minds so that customer value is created and build
up the brand value.

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COMPETITOR ADVANTAGES STRATEGYrs e
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In this, a company has to analyze the strategies used by competitors in the market. The main
competitors of Byjus is khan academy, career launcher, unacademy. To survive in the market
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every competitor analysis the market. There are some types of strategy:-
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1. By Attributes and Benefits – Competitor differentiate their products on the basic of the
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features or characteristics from their rivals so that customers attract and companies brand
value increase.
2. By Price or Quality – Most of company try to improve their quality or reduce their
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prices of product to compete in the market.

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3. By Product Class – Most of the company shows class in their product. It mean added
good value into the product so to create superior customer value and Brand loyalty.
4. By Product User – User of the product also effect the positioning of products. If the
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Customer shows loyalty towards brand then is easy for a company to position their
product.
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5. By Competitor – Many of the company differentiate their product from rival companies
based on their market strategy. So that they can improve their market strategy and easily
compete in the market.
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6. By Cultural Symbols – Companies positioning their products which show some value
towards the society or cultural. This is also best strategy to compete in the market.
These are some strategy advantage of competitors for positioning
their products in the marketing. After adopt the strategy, developing the position statement which
summarize the company brand positioning of product.

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 BYJUS POSITIONING STARTEGY
There are many competitor market strategy adopt by the company. Byjus adopt By Competitor
strategy to positioning their product in the market. They provide online videos for every concept
students required.

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