Market segmentation, targeting, an positioning strategy (STP)
Review the market segmentation, targeting, an positioning strategy (STP) of your organization (place of employment). How can market segmentation be useful for the organization? On what factors do you suggest the organization base its market segmentation? How can the organization benefit from the market segment it pursues? Identify and discuss the targeting strategy that is ideal for the organization based on the segmentation strategy. Lastly, discuss the strategic positioning of the organizational offerings; does strategy make good marketing management sense or not; explain.
Sample Solution
The organization I currently work for is a health care provider and our overall market segmentation, targeting and positioning strategy (STP) is aimed towards providing comprehensive services whilst still being accessible to as many people as possible.
When it comes to segmentation specifically then this entails carefully dividing up the larger marketplace into smaller groups based on various criteria such as age, gender or location etc . This is useful since it allows us to tailor our messaging so that its more relevant to each individual – thus increasing the chances of generating a response from them when attempting outreach activities (Armstrong & Kotler ,2018).
Whilst this might be done through traditional methods such as advertising campaigns or leaflet drops – thanks to advances in digital technology we can now also use more sophisticated techniques like using data analytics in order to identify potential trends within certain demographics which can then be used for future promotions.
Moving onto targeting then this involves selecting specific segments which have been identified via the previous step and constructing tailored messages /products which appeal directly towards their individual needs . For example, with regards to healthcare, there may be a particular group who are not knowledgeable about certain conditions, so providing educational materials regarding these could help increase awareness levels amongst them.
