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The segmentation, targeting and positioning together called as a STP tool is a very effective measure to broaden and deepen the market. This way companies maximize their profits and also effectively deal with the competition. The segmentation strategy is to focus on the section of the markets depending on the needs, demands and even the culture prevailing over there. Myhomeworkhelp will provide high-quality help on segmentation topics. Once segmentation is done, targeting and positioning strategies are employed to fine-tune the communication to reach the potential customers and also to hasten the buying decision. Students can refer to sample assignments prepared by dedicated team of experts on STP for better understanding of the subject. You will get help on all kinds of assignments from essay writing, course work, thesis writing and research paper submission at a reasonable cost.

The STP tool help the companies to position the product or service to target different groups of customers more efficiently. This three-stage tool helps to quickly latch on to profitable segments of the market thereby exploiting the opportunities for more sales.

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STP tool starts with segmenting the markets into groups on criteria such as demographic, psychographic, geographic and behavioral aspects of the consumers. Then targeting prospective consumers from the chosen segments is the next step. Finally positioning of the product or service is made according to the suitability of targeted consumers within each of the segments.

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ADVANTAGES OF SEGMENTATION AND POSITIONING

  • It helps company to meet the needs and wants of targeted consumers.
  • It helps in retaining the existing consumers and attracting the prospective ones.
  • It helps in brand building.
  • It helps in efficient utilization of marketing resources.
  • It helps in innovation of products and communication with consumers.
  • It helps in achieving high market share and high profits.

SEGMENTING, TARGETING, AND POSITIONING AS A MARKETING TOOL

Segmenting, targeting and positioning together called as STP tool used to market the product/services efficiently.  The offerings of company will be more appealing to certain market segments and segmenting will take care of it. Then the consumers in that segment are targeted through proper communication channel to reach them out. Then positioning is more of brand building.

WHAT IS TARGET MARKETING?

Target marketing is a process to target a particular group of consumers who are more likely to be the buyers of product/services and devising suitable communication strategies to reach them out.

WAYS OF TARGET MARKETING

  1. i) Multisegment Marketing – Here companies cater to different segments of the market with or without modification in the product.
  2. ii) Concentrated Marketing – Companies focus all effort to a single market segment.

iii) Micro-Targeting – With the advent of social media tools and data mining, personalized marketing approach is being used.

DIFFERENT BASES FOR SEGMENTATION

  • Geographic
  • Demographic
  • Psychographic
  • Behavioral

EXCELLENT HELP AVAILABLE ON ALL TOPICS UNDER SEGMENTATION POSITIONING

Segmentation and positioning is a very interesting subject. The application of this knowledge has a direct impact on the profitability and brand building capability. There are many topics on which you will be required to write assignments and we have listed a few below for your reference. Seek [email protected] writers for excellent help on assignment writing.

Profile building for market segmentation Market segmentation
Targeting Identifying and defining segments
Market mapping Geographic segmentation
Positioning Discovery approach of segmenting
Psychographic segmentation Elaboration likelihood method
Central route processing in ELM Behavioral variables in  segmentation
Pit falls in segmentation Demographic segmentation
Analytical approach of segmenting Peripheral route processing in ELM

 

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