Stp Framework
STP Framework
Segmentation
Targeting
Positioning
Following these steps leads to the “formal marketing approach”.
Segmentation
Splitting customers, or potential customers, into different groups “segments” within which customers have a similar level of needs and interests in the offered product or service.
Within segments >> Maximum similarities.
Across all segments >> Maximum difference.
Selecting Criteria
Responsiveness
Substantiality
Measurability
Actionable
Accessibility >> through the promotional mix “Advertising- personal selling- PR- sales promotions”
Targeting
Concentrating the marketing and communication efforts on one or few key segments.
Positioning
Marketing efforts aimed to occupy a brand in a distinct position in the mind of customers against competing brands.
Position VS Positioning
Position: How customers actually perceive your brand.
Positioning: Marketing efforts to position the brand in the mind of customers.
How to position a brand?
Emphasize the distinguishing features of the product, and push the desired image through communication channels – advertising mainly.
Brands should frequently check the positioning validity with the surrounding business environment and trends.
Positioning should be desirable by the target market.
Positioning should be unique “not easily imitated”.
Repositioning
Redefining the positioning strategy of the company with new marketing efforts aimed to occupy the brand in a new position, in the mind of customers.
When to reposition