Marketing Segmentation Targeting and Positioning Marketing Essay
Kotler stated that formula segmentation, targeting and positioning is an essence of strategic marketing. Kotler, 1994, p.93. In combination, STP involves a three-stage marketing strategy to determine the existing customers, target the focus groups and intelligently choose between the appropriate strategies to move forward with the market. POSITIONING Positioning has everything to do with perception and is inextricably linked to segmentation. It cannot be defined until the market is divided into unique segments and the target segments are selected. Because perception differs from person to person, so do the results of the positioning map. Segmentation. Segmentation is an important part of the marketing strategy. It allows the company to define certain market segments. Budva and Mullen argue that “international segmentation can help resolve the long-standing debate over standardization versus adoption” 1209. This means that there are a number of unresolved issues. Segmentation goes beyond organizational benefits, it has a direct impact on customer satisfaction and marketing effectiveness. 1. Know your customers better: Segmentation helps you really get to know your customers well. By grouping them according to their similarities, you can understand what they like, what they need and how they target the aristocratic people who look for high Internet speed and accessibility and attach effective positioning to the brand. Product diversification and differentiation is a means in terms of. Third, it introduces how to target a market and the assessment criteria. It also suggests targeting approaches and how to implement target market positioning. Examples are given to support the above position. This essay aims to provide readers with a simple understanding of market segmentation.1. Introduction to Market Segmentation, Targeting and Positioning Defining a market is the cornerstone of market research. To give an example, a bank conducting a survey must indicate who constitutes its market: customers who purchase a specific service offering, or all consumers with a checking account, or simply all adults.,