QUESTION 27. WHAT DO YOU MEAN BY STP IN MARKETING ?
ANSWER 27. STP stands for SEGMENTATION , TARGETING AND POSITIONING in marketing environment.
SEGMENTATION : Segmentation is a method of dividing a large market into smaller groupings of consumers in which each segment has common characteristics such as need , behaviour etc . It is also called as target marketing.
TARGETING : It is the second stage and is done once the market have been segmented . Once the marketer creates different segments within the market, he then divides various marketing strategies and promotional schemes according to the taste of individual of particular segment. This process is called Targeting. Organisation with the help of various marketing planning and schemes target their product amongst the latest segment for example - NOKIA OFFERS HANDSET FOR ALL THE SEGMENTS.
POSITIONING : Once the organisation decides all its target market, it strive hard to create an image of its product in the minds of the consumer. Infact the marketers create a first impression of the product in the minds of consumer through positioning. It helps organisation to create a perception of the product in the minds of target audience. For Instance RAYBAND AND POLISH SUNGLASSES CREATES TO HIGHER CLASS PREMIUM SEGMENT WHILE VINTAGE SUNGLASSES TARGET THE MIDDLE INCOME GROUP. RAYBAND AND SUNGLASSES HAS NO TAKERS IN THE LOWER INCOME GROUPS.