Stp Process
Topic 4: Segmentation, Targeting & Positioning
LEARNING OUTCOMES:
Upon completing this topic students should be able to:
a) To examine the specific nature of segmentation, targeting and positioning.
b) Demonstrate an understanding of the inter-related processes of segmentation, targeting and positioning
c) Relate STP theory to real life marketing situations
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RECOMMENDED READING:
Cavallaro, M., (2008) Marketing to Men, Restaurant Business
Available on: http://web.ebscohost.com/bsi/pdf?vid=18&hid=4&sid=220e1719-185e-4553-90e6-6f295e67020e%40sessionmgr2 Manning – Schaffel, V., (2006) Papa’s Got a Brand New Bag,
Available on: http://www.brandchannel.com/features_effect.asp?pf_id=318#more Smith, S. and Whitlark B., (2001) Men and Women Online, What Makes Them Click, American Marketing Association.
Available on: http://web.ebscohost.com/bsi/pdf?vid=23&hid=113&sid=139e39e5-1c13-4d03-985c-27eec79bd1aa%40sessionmgr103 THE STP PROCESS - Market Segmentation - Market Targeting - Market Positioning
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MARKET SEGMENTATION
MARKET: people or organisations with needs and wants and the ability and willingness to buy
MARKET SEGMENT: A subgroup of people or organisations sharing one or more characteristics that cause them to have similar product needs
MARKET SEGMENTATION: The process of dividing a market into relatively similar, identifiable segments or groups. It - Involves dividing a market into distinct groups of buyers who have different needs & require separate marketing mixes. - Involves dividing the market to identify the most attractive parts to serve. - Is a recognition that buyers differ in terms of wants, resources, locations, attitudes and buying practices.
The segmentation process is fundamental to analysing markets - few markets possess buyers who are the same. Both profit-oriented and not-for-profit organisations practice market
LEARNING OUTCOMES:
Upon completing this topic students should be able to:
a) To examine the specific nature of segmentation, targeting and positioning.
b) Demonstrate an understanding of the inter-related processes of segmentation, targeting and positioning
c) Relate STP theory to real life marketing situations
************************************************************************************
RECOMMENDED READING:
Cavallaro, M., (2008) Marketing to Men, Restaurant Business
Available on: http://web.ebscohost.com/bsi/pdf?vid=18&hid=4&sid=220e1719-185e-4553-90e6-6f295e67020e%40sessionmgr2 Manning – Schaffel, V., (2006) Papa’s Got a Brand New Bag,
Available on: http://www.brandchannel.com/features_effect.asp?pf_id=318#more Smith, S. and Whitlark B., (2001) Men and Women Online, What Makes Them Click, American Marketing Association.
Available on: http://web.ebscohost.com/bsi/pdf?vid=23&hid=113&sid=139e39e5-1c13-4d03-985c-27eec79bd1aa%40sessionmgr103 THE STP PROCESS - Market Segmentation - Market Targeting - Market Positioning
[pic]
MARKET SEGMENTATION
MARKET: people or organisations with needs and wants and the ability and willingness to buy
MARKET SEGMENT: A subgroup of people or organisations sharing one or more characteristics that cause them to have similar product needs
MARKET SEGMENTATION: The process of dividing a market into relatively similar, identifiable segments or groups. It - Involves dividing a market into distinct groups of buyers who have different needs & require separate marketing mixes. - Involves dividing the market to identify the most attractive parts to serve. - Is a recognition that buyers differ in terms of wants, resources, locations, attitudes and buying practices.
The segmentation process is fundamental to analysing markets - few markets possess buyers who are the same. Both profit-oriented and not-for-profit organisations practice market