Hello viewers,
STP model is a very famous term in modern marketing. STP stands for segmentation, targeting, positioning. STP analysis is a continuous process to well place your product in the market, the First step of the STP model is segmentation, according to Philip Kotler Segmentation means subdividing the market into distinct and homogeneous subgroups of consumer. In simple words, we can say that it is to divide the market on the basis of the consumer’s characteristics. There are mainly 4 ways to divide your market in different segments 1st geographic, 2nd demographic 3rd psychographic or 4th behavioural segmentation
Targeting refers to determining which of the segments uncovered should be targeted and made the focus of a comprehensive marketing program. In simple words, targeting is to select a segment from the market. Generally, there is 3 targeting strategy. 1st undifferentiated targeting
2nd strategy is single-segment targeting and 3rd strategy is a multi-segment strategy.
Positioning means to ensure that a brand occupies the right spot in the mind of target consumers. Positioning is the means by which goods and services can be differentiated from one another and thereby give consumers a reason to buy
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