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Select Target Marketing and Positioning. Write a paragraph or two on the target markets and positioning...

Select Target Marketing and Positioning.

Write a paragraph or two on the target markets and positioning for the Marketing Plan.
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STP (Segmenting, Targeting & Marketing) is one of the most famous marketing model that is applied in practice today. In this model the market is first segmented according to their needs, characteristics and behaviour, then the customers who are aligned with their needs and share common characteristics with what the company offers are targeted, the next step is to position the product by implanting the brands unique benefits and differentiation in the customers mind.

  • Targeting of your product is done by carefully analysing which segment of customers are attractive according to the various criteria that you require to be successful. For example, analyse profitability of each segment, their growth potential and how they will compete in the market. conducting a PESTEL analysis can also help you to know if there is any external factors that might have an impact on target market.
  • Postioning your product should make your product create a unique image in your customers mind. You can make different marketing mix which will influence customers to your product. Identify your unique selling proposition and focus on communicating how your product creates value to your product. Basic objective of positioning is to create a perception of a product in the customers mind.
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