Question

In, 4-5 pages in your own words find and describe three examples of the segmentation, targeting, and positioning. Then evaluate each example in terms of effectiveness.

Answer 1

Segmentation, Targeting and Positioning are the 3 main cornerstones of the marketing. In short, they are also being termed as STP.

Some of the prominent examples of these 3 factors are as below-

1. Segmentation- Let’s take some real time examples of Segmentation.

1. Older company Philips had identified the customer needs and target market in the very beginning of its product development. They had identified the potential markets in the very beginning and proceeded for the product development accordingly.
2. Similarly, iPhone maker Apple had designed its product development as per the need of the customers from Asia, Europe and Latin market.

This is the initial part of business understanding, which ensures that whatever product is being developed by these companies, would ensure a good commercial success post production.

2. Targeting- Once product is being developed or manufactured, the next step is to identify the actual target customers who could potentially be the assured buyer of that product. To get this activity done, companies can conduct some market survey to understand the pulse of the market. Some of the prominent example of targeting are as below-

1. In a particular country itself, companies can make different strategy for different locations. For example, in country like India, any electronic gadget company would prefer 2-3 product subtypes based on the target customers who would belong to Bangalore, Delhi and other tier 2 cities.
2. Not only the place, but different age group can also determine the sale and success of any particular product or services. Web portal services like Bookmyshow, often target the young audience as it knows that they are the frequent moviegoers.

3. Positioning- Positioning is the last stage of the process, where different advertisements tools are used to establish a particular product in the market. It also ensures the longevity and continuous sale of the product. Some of the known examples of this aspect is the branding of Apple iPhones and advertisement of professional social media site Linkedin. Both the companies are making very aggressive branding and positing among the target market to ensure the success pf its product or services