What is STP explain?
In marketing, segmenting, targeting and positioning (STP) is a broad framework that summarizes and simplifies the process of market segmentation.
Targeting is the process of identifying the most attractive segments from the segmentation stage, usually the ones most profitable for the business..
What is STP example?
STP marketing (Segmentation, Targeting, and Positioning) is a three-step marketing framework. With STP marketing, you segment your market, target your customers, and position your offering to each segment. What is STP marketing example? The most classic example of STP marketing is the Cola Wars of the 1980s.
What is STP and why is it important?
STP in marketing stands for Segmentation, Targeting, and Positioning. The STP model helps marketers craft their messaging and develop and deliver tailored and relevant messages that engage segmented, target audiences. This approach is helpful in developing a digital strategy for content marketing.
How is STP conducted?
The Full STP ProcessStep One – Define the market. … Step Two – Create market segments. … Step Three – Evaluate the segments for viability. … Step Four – Construct segment profiles. … Step Five – Evaluate the attractiveness of each segment. … Step Six – Select target market/s. … Step Seven – Develop positioning strategy.More items…
What are the three components of the STP process?
Market segmentation, targeting and positioning are the three components of what is commonly known as the S-T-P strategy. Each step contributes to the development of a targeted promotional plan.
How many types of segmentation are there?
fourDemographic, psychographic, behavioral and geographic segmentation are considered the four main types of market segmentation, but there are also many other strategies you can use, including numerous variations on the four main types.