1. What We Will Discuss Today
Recap of Previous Session
Marketing Concept Revisited
Marketing Strategy
Video
Factors
Introduction to STP

2. What We Will Discuss Today
Segmentation
Defined
Game
Bases
Targeting
Evaluating Market Segments
Selecting Market Segments

3. Marketing Strategy
Marketing strategy is the plan, method, or series of maneuvers for obtaining a specific marketing goal or result.

4. Background on STP Mass Marketing Product Variety Marketing
Target Marketing
Relationship Marketing

5. STEP 1: Segmentation
Market Segmentation: Process of identifying distinct groups of buyers within a market who possess relatively similar purchase related characteristics.
Within group differences on relevant characteristics are low
Between group differences on relevant characteristics are high

6. STEP 2: Targeting
Market Targeting: Process of evaluating each market segment’s attractiveness and selecting one or more of the market segments to enter.

7. STEP 3: Positioning
Market Positioning: Process of formulating a competitive positioning for a product and a detailed marketing mix.
Goal of Positioning: The product should occupy a clear, distinctive, and desirable place relative to competing products in the minds of consumers.

8. Bases for Segmentation
Geographic
Demographic
Psychographic
Social class
Lifestyle
Personality
Behavioral
Occasions
Benefits sought
Loyalty

9. Market Targeting Evaluating Segments Selecting Segments Attractiveness
Size
Growth potential
Competitive situation
Substitutes
Power of suppliers and buyers
Selecting Segments
Undifferentiated
Differentiated
Concentrated

10. Factors Affecting Targeting Strategy
Resources
Variability (Product and Market)
Competitors’ Strategies

11. What We Discussed Today
Recap of Previous Session
Marketing Concept Revisited
Marketing Strategy
Video
Factors
Introduction to STP

12. What Discussed Today Segmentation Targeting Defined Game Bases
Evaluating Market Segments
Selecting Market Segments