While it’s a recent strategic vision, knowing about STP marketing is critical to you whether you have a business, a small business, or an entrepreneurship.
In principle, you should know exactly what it’s all about and from there discover about segmentation, targeting and positioning, as well as their processes so that you can carry them out in this type of marketing strategy. All of this and much more you are about to learn below.
What is STP marketing and what is it for?
- Stp marketing is segmentation targeting and positioning. It is a marketing strategy that is currently used, but which changes the old concept by focusing on marketing in such a way that instead of focusing on the product the customer is oriented.
- The old strategy towards marketing focused on adjusting the market to the product, but with the stp it is the product that adjusts to the market.
- The stp serves to be used when the marketing communication plan is established.
- Marketers can prioritize proposals, development and delivery of personalized communications based on easy interaction with the public.
- In fact for this reason the stp is also known as strategic marketing. This strategy involves looking for the exact segment for product marketing through segmentation.
- Targeting is used to identify the target market.
- Then the positioning is carried out that implies positioning the product in function of obtaining benefits.
- For this reason it is fundamental that you determine which are the benefits of your product and how it will benefit the target audience.
Segmentation targeting and positioning
Segmentation targeting and positioning is stp, the marketing strategy for which you must first know how to perform the segmentation, then…
Segmentation in stp marketing
- To apply stp marketing you must first perform segmentation, meaning that you need to identify the target market, for which there are several ways to segment a market, but the most common is according to the characteristics of the consumer.
- You can do the segmentation according to the geographic, psychographic or demographic factor.
- Then you will identify the products that can best be adapted to the segment.
- In this way you will identify the segment and create a marketing plan designed to meet the particular needs of that segment.
- Once you have completed the first stage (segmentation) you will continue with targeting.
Targeting in stp marketing
- Targeting is focalization, that is to say to focus the market, that is to say that after segmenting you will focus on the market after having identified your consumer to whom you will commercialize the product.
- You will analyze factors such as effectiveness and profitability on each of the groups of consumers.
- You will review the way each segment grows, determining how your company can be useful to satisfy each particular segment.
- It is important that you determine how your product’s growth evolves within the market in order to guide your campaign.
- When you identify customers, you will use a marketing plan to capture most of the market.
Positioning in stp marketing
- Positioning is brand positioning, for which you must be able to make a good identification of the most important aspects of marketing such as the square, price, product and promotion.
- You must be sure that you are placing the right product in the right place, after having successfully segmented the market and set a competitive price.
- You have designed a product, then you must adjust the price by focusing on your potential customers and their respective socioeconomic conditions.
- The square has to do with the geographical location of the consumers and the correct location of your product when exposed to the customer.
- The promotion will orient you to the market you chose with a strategy that allows you to reach that market and establish a strong impact.
- In fact positioning, Brand positioning or brand positioning is nothing other than the design of the offer and image of the company in order to place it in a position that stands out from competitors.
- In this way your company stands out from the rest, because with this type of marketing strategy you can tell a story that remains in the minds of consumers, which causes a strong impact, so that you manage to manage their present and future decisions.
- Every brand positioning strategy has success as an end, however to achieve it is necessary that your brand has a representation, an idea, something that makes it different and that is consistent with the company.
What are the processes of stp marketing?
- The processes of stp marketing are an important part of the strategy applied to marketing. You already know that it means segmentation, focus and positioning.
- The process is a demonstration of how the global market is linked as well as how your company can be an important competitor in that market.
- The process ranges from segmentation as the first step, then you choose a segment, a target market and to finish the process you apply the positioning.
- The processes aim to create a guide for the company in order to implement a successful marketing strategy.
- Segmentation as the first step of the process requires you to divide the market into small groups that have the same needs or similar characteristics and thus identify the target market.
- The focus as the second step of the process is the selection of the segment organization to focus on it the offers and the marketing plan of the company.
- The positioning as the third step of the process is how the target market perceives the characteristics and benefits offered by your product, relating it to the products of the competition.
- Bearing in mind that stp analysis combines three well-defined concepts: segmentation, target and positioning.
- In the segmentation you will look for the appropriate segment where you will place your brand.
- In the target you will have to identify which is the adequate market or target market. And in positioning you will analyze how to place your product in a correct way within the market in function of which you can have the maximum benefit for your company.
- Therefore in the stp analysis you will be observing and analyzing all your environment including the markets in order to make a good identification of business opportunities and trends that arise.
- With this stp analysis, applying a marketing strategy you can establish an action plan to achieve objectives in the most efficient and successful way.