Study Notes for Target Markets

Segmentation, Targeting and Positioning, Target market / By

Marketing Study NotesWhat is a target market?A target market is a market segment that has been deliberately selected by an organization in order to focus their marketing efforts and offerings.Why is target market selection important?Target market selection is the second major phase of the STP process.It is important because it is a key marketing strategy […]

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Quick Study Notes for STP in Marketing

Positioning, Segmentation, Segmentation, Targeting and Positioning, Target market / By

What is STP in Marketing?STP stands Segmentation, Targeting and PositioningSTP is a process where a marketer:Segments an overall market,(segmentation)Evaluates each market segment on a set criteria,Selects the most appropriate target market/s for the firm,Then establishes an appropriate positioning in order to compete in that target market,Which would then be supported by the firm’s marketing mix

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