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STP - Marketing Strategy

STP stands for "segmentation, targeting, and positioning," and it is a marketing strategy that involves dividing a market into smaller groups of consumers with similar needs or characteristics, and then creating a unique marketing mix for each group.

The goal of STP is to create a customized marketing approach for each segment of the market, in order to effectively reach and persuade target customers.

Segmentation is the process of dividing a market into smaller groups of consumers based on common characteristics or needs. This can be done using various criteria, such as demographic, geographic, psychographic, or behavioral factors. For example, a market for clothing could be segmented based on age, gender, income, or lifestyle.

Once the market has been segmented, the next step is targeting, which involves selecting the most promising segments to focus on. This decision should be based on a number of factors, including the size and growth potential of the segment, the fit with the company's strengths and resources, and the potential for profit.

The final step in the STP process is positioning, which involves creating a unique value proposition and marketing mix for each target segment. This involves developing a clear and compelling message that differentiates the product or service from competitors, and creating a marketing mix that includes the right product, price, promotion, and distribution strategies for each segment.

Overall, STP is a valuable tool for companies that want to create customized marketing approaches for different segments of the market. By dividing the market into smaller groups and creating unique marketing mixes for each group, companies can effectively reach and persuade their target customers.

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