STP Marketing

We are surrounded by marketing.  As consumer's, we are all being sold the same product/ service.  Marketers therefore, have to take into consideration, how they choose their target audience.  How they find the right customer's by identifying a market, is vital to their profit.  By using segmentation, targeting and positioning, these goals can be successfully achieved. 

SEGMENTATION
     TARGETING
          POSITIONING... STP

Segmentation is identifying the need of the mass, by the marketers.  The opportunity for marketers to expand their market is easily accessible by dividing the market into smaller segments.  'Evans' a clothing store, cater to 'larger' women. Their clothes range from size 12 upwards.  Although, size 12 may not be considered 'big' the fitting of their clothes differ to those of shops like; ZARA, Topshop and H&M. Likewise, 'Evans' shoes are also known to have a bigger fitting.  This clothing store, caters mainly for women however, I personally have found myself purchasing accessories from the store.  'Evans' have noticed a growing trend in women's geans being purchased by men and have expanded by selling uni-sex jeans. 

By familiarising with the demographics of their audience, marketers can use segmentation as a tool to offer a service/ product.  Branding exploits the idea of an ideal customer and bases its advertising campaign around what the fictional character wants and does.  I personally think, that the idea of using world known icons, appeals more to the consumer; for example

                                                                    

                                                                 

 These models are all world known, icons.  Adidas, are also a very successful sporting shop with a branch in tourist area, Westfield's.  As successful as Adidas are, they continue to use icons to promote their brand.  Personally, I think this is very efficient in expanding their target market.  I will use myself as an example of consumer behaviour...                                      

(Me modelling Adidas & trying to mirror Missy Elliot)

I like Missy Elliot, David Beckham and Estelle.  I also lovvvvve, Adidas!!!  Because of the constant adverts I see, both on TV and in Magazines linking these icons to the brand, I immediately associate the brand with these stars.  I am 19, I tend to shop in H&M and JD.  However, taking many trips to the Adidas store in Westfield's with my decision to do so, being enhanced purely by my love for these stars and the brand itself, I have found my demographic and psychographic profile being, catered for in the Adidas store.  Westfield's is based in one of London's most popular tourist areas- Central London.  Mariah Carey, a singing artist, has visited the Adidas store, in Westfield's and as a confident brand, they market to a high class audience.  I have become a loyal customer.  Segmentation, may not neccessarily increase the size of the market but, market share can be enhanced and strengthened by by targeting a subcategory of a larger market.

Targeting is where the information concluded, is assessed to see whether or not it will produce a profitable market.  The product with the highest outlook will be the on used to promote.  An example of this is if a company want to lauch a new PEN! Which will generate most profit??? A casual berol? A gell pen? A fountain pen?  These ideas will be analysed, researched and maybe surveyed, and the one with the most potential will be promoted.

Doyle's 5 Factors in Assessing Segmentation and the idea of luring consumer's:

1. Segment size - number of potential customers
2. Segment growth - growing or declining
3. Segment profitability - Porter's 5 Forces
4. Current and potential competitors
5. Core capabilities - strengths and weaknesses of segment

Positioning defines how the customers within the segment will rate the product or sevice compared to its competitors.  This relates to perception.  How a product relates to another, can be found using the perceptual map. 

This map, rates soft drinks on their value for money, how modern they are, sweet they are, if they are healthy/ nourishing and if they are a luxury purchase.