Market Segmentation, Targeting, Positioning, STP Steps

Market segmentation, targeting and positioning strategies enable an organization to gain competitive advantage in the market. Market segmentation involves dividing the entire market into groups containing identifiable consumers who seek similar benefits from a product. Next comes the task of targeting and product differentiation. In this, marketers must decide on the marketing mix to be adopted for their product so that it stands out from the competitor’s product. Lastly, the marketers have to formulate a positioning statement for the product. The same helps in creating a unique association of the product in consumer’s mind.

The presentation discusses the different approaches, steps towards segmentation, targeting and positioning.

Format: PPT | Size: —

Source: Gonzaga University

Market Segmentation, Targeting, Positioning, STP Steps