Asked by: Enora Thomeasked in category: General Last Updated: 13th March, 2020
How are segmentation targeting and positioning related?
Similarly, how do you do segmentation targeting and positioning?
Follow the steps below to apply the STP Model in your organization.
- Step 1: Segment Your Market. Your organization, product or brand can't be all things to all people.
- Step 2: Target Your Best Customers. Next, you decide which segments to target by finding the most attractive ones.
One may also ask, what is market targeting and positioning explain with suitable example? A good example of the STP process (segmentation, targeting, positioning) can be found during the Cola Wars in the 1980s between Coca-Cola and Pepsi-Cola. Consumers with a positive attitude to both Coke and Pepsi, with loyalty to both brands, but switching their purchases between these two brands from time to time.
Consequently, what is difference between targeting and positioning?
Key Differences Targeting a market is the larger process of marketing to a target consumer -- it includes both the research of market segmentation and the practice of brand positioning. Positioning involves only the various strategies and projects that the company initiates to communicate a brand to the target market.
What are the 4 types of market segmentation?
The Four Types of Market Segmentation
- Demographic segmentation.
- Psychographic segmentation.
- Behavioral segmentation.
- Geographic segmentation.