Segmentation targeting and positioning
Segmenting
The segmenting step is essentially a brainstorming activity. You
list out all the potential market segments you could target in a marketing
campaign. Niche companies sometimes have only one target market, while other
businesses may have five or 10 possible segments, or more. Cell phone
providers, for instance, often separate customers by benefits. Some buyers want
high-tech gadgetry while others want dependable communication for travel and
emergencies.
Targeting
When you have multiple,
distinct market segments, you typically need to customize marketing campaigns
that appeal to each. As you go through the STP process, you select which
segment to target with your upcoming campaign. Using the cell phone example,
you might decide to launch a new campaign to promote advanced mobile features,
media, apps and texting tools to younger, tech-savvy audiences. For this
campaign, you would develop messages and use media tailored to that market.
Positioning
Positioning is how you align your brand or products in the target
market. The goal is to offer something that is bigger, better or more valuable
than your competitors to a particular market segment. For example, Apple
attempts to position itself as an innovative, cutting-edge technology provider
to discerning tech buyers who want top-quality solutions. Your positioning
serves as your big-picture guide in building your marketing campaign.