STP Marketing: Definition
, Targets and Strategies
Understanding STP Marketing
What is STP marketing? If examined more deeply, STP marketing is one of the marketing strategies that are often used by individuals or groups of people in business matters to explore and determine the most potential target market for each product and service offered by the company or business. STP itself stands for Segmentation, Targeting and Positioning.
Segmentation or segmentation of STP marketing means that a company or business carries out the process of dividing consumer groups based on different criteria ranging from gender to age. For targeting, the company begins to target which market segment has the highest potential with a level of profit that is in accordance with the company’s business objectives. While positioning is a strategy to create product and service branding that is different from competitors who also do business in a target market similar to yours.
If you are able to implement STP marketing correctly and effectively, in addition to the high opportunities in terms of efficient allocation of resources in your business, it is not impossible that the business goals you have planned can be realized in the near future to be able to strengthen the relationship between your business and consumers who buy and use the products or services and services you offer.
Easy Ways to Create STP Marketing
After understanding in depth what STP marketing is, now is the time for you to dive deeper and understand the easy way to create STP marketing. Here are some steps and ways to create STP marketing that you can apply directly to your business.
1. Segmenting the market
The first step in creating STP marketing is to segment the market. As explained a little earlier, segmentation is the division of consumer groups according to differences in their criteria. This segmentation aims to group consumers based on needs and various other criteria to make it easier for business people to determine the target and market strategy that will be implemented for the success of the business being run.
2. Determining the marketing target
After the marketing segmentation has been successfully carried out, the next step is to determine the STP marketing target according to the identification process that has been carried out in the previous market segmentation.
From the market segmentation process that has been carried out, the company will determine the choice of one market segment that is considered to have the potential to experience development and growth with quite high intensity. Determining the right and effective market target is very important in order to reduce waste of business resources to achieve the desired business goals in the future.
3. Positioning in the market segment
If you have set a clear target market, positioning is the next step that you must do. In this case, you must analyze every competitor and competitor who is marketing in the same target market as you.
On the other hand, you must also create a value proposition that explains the uniqueness of your product compared to competitor brands to consumers in the market segment. Implementations such as advertising and promotions can also be done so that your products and services are easily remembered by consumers compared to other products and services.
4. Implementing a marketing strategy
Next, an easy way to create STP marketing is to apply a marketing strategy to the market segment. Implementing an STP marketing strategy will be effective and efficient if you have gone through the processes previously outlined above. In essence, the process of segmentation, determining the target market to the right positioning can boost your success in implementing a marketing strategy.
5. Conduct regular evaluations
Finally, make sure you always conduct regular evaluations of the marketing strategies that you have implemented. Through the evaluations that you do routinely, you can measure how effective the market strategy you apply to the target market is. If the evaluation of the market strategy is not very effective, you can change the marketing strategy implemented to remain relevant to the target market and the needs of consumers in it.
Example of Implementing STP Marketing
As an example of STP marketing, there is a packaged bread company that wants to launch a new variant product. The company can segment based on age criteria, ranging from children, teenagers to adults, the lifestyle of consumers in the market segment, and the taste preferences that are in demand.
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