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    The document discusses the STP marketing model which involves segmenting the market into distinct customer groups, targeting the most attractive segments, and positioning products for each target segment. It describes ways to segment consumer and business-to-business markets, as well as the benefits and potential drawbacks of segmentation. Targeting involves selecting market segments based on factors like size and profitability using strategies like mass, segmented, or niche marketing. Positioning determines how to present products to different target segments based on attributes like price and quality.

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    The document discusses the STP marketing model which involves segmenting the market into distinct customer groups, targeting the most attractive segments, and positioning products for each target segment. It describes ways to segment consumer and business-to-business markets, as well as the benefits and potential drawbacks of segmentation. Targeting involves selecting market segments based on factors like size and profitability using strategies like mass, segmented, or niche marketing. Positioning determines how to present products to different target segments based on attributes like price and quality.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    5 views17 pages

    9 STP

    Uploaded by

    nix
    The document discusses the STP marketing model which involves segmenting the market into distinct customer groups, targeting the most attractive segments, and positioning products for each target segment. It describes ways to segment consumer and business-to-business markets, as well as the benefits and potential drawbacks of segmentation. Targeting involves selecting market segments based on factors like size and profitability using strategies like mass, segmented, or niche marketing. Positioning determines how to present products to different target segments based on attributes like price and quality.

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    © All Rights Reserved
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    of 17

    How Businesses Use Marketing to Create Value for Customers

    STP MARKETING MODEL


    Segmentation Targeting Positioning

    Divide the Market Select the Most Determine how


    into Distinct attractive to position your
    Groups of segments to products for
    Customers focus your each target
    marketing segment
    efforts.
    Segmentation
    Bases for Consumer Bases for B2B
    Groups of Customer
    Segmentation Segmentation

    ● Demographic ● Demographic ● Mass


    ● Geographic ● Geographic Marketing
    ● Psychological ● Type of firm ● One-to one
    ● Behavioral ● Attitudes marketing
    ● Niche
    Marketing
    BENEFITS OF EFFECTIVE MARKET SEGMENTATION
    POTENTIAL DRAWBACKS OF MARKET SEGMENTATION
    Targeting
    Target Market is the set of customers sharing common needs and wants that business decides to target.

    Factors to Consider 3 Main Strategies for


    Targeting a Market

    ● Size ● Mass Marketing


    (Undifferentiated)
    ● Profitability ● Segmented
    ● Ease of (differentiated)
    ● Concentrated
    reach (Niche)
    Market Positioning
    Market Positioning
    High Quality

    Low Price High Price

    Low Quality
    Types of Positioning
    ● Functional
    ● Symbolic
    ● Experiential

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