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STP (Segmentation (Steps (Identify bases for segmenting the market,…
STP
Segmentation
Approach can be concentrated/niche, differentiated or selective (multiple segments)
Steps
- Identify bases for segmenting the market
- Develop profiles of resulting segments
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Positioning: niche a brand occupies in the target segment's overall perception of the relevant brands in the category
Based on: current brand image in mind of consumer, competitor positioning in the mind of consumers, problem consumer is aiming to solve
Approaches
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Direct (functional) benefit: how you benefit, tangible
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Surrogate positioning: external intangible attributes, not features and benefits, consumer associations