When exploring market segmentationtargetingpositioning pdf, it's essential to consider various aspects and implications. Microsoft Word - MarketSegmentationTargeting and Positioning. Market segmentation is a consumer-oriented process and can be applied to almost any type of market. In dividing or segmenting markets, researchers typically look for shared characteristics such as common needs, common interests, similar lifestyles or even similar demographic profiles. SEGMENTATION, TARGETING AND POSITIONING (STP). Targeting: After identifying the segments, the next step is to evaluate and select which segments to focus on.
Positioning: The final step is positioning, which involves crafting a unique image and message for the product or service that appeals to the targeted segments. Measurement: To measure the market share, growth, specification of target customers, recognition of relevant competitors, to formulate marketing objectives and strategies, segmentation is essential. Market segmentation and market targeting also can be used to develop a competitive advantage. Companies must plan a way reach their chosen target market(s) by determining the best positioning for their product offerings.
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