Online Segmentation Positioning Assignment Help
Segmentation, targeting, and positioning (STP) is a three stage marketing model that helps a marketer to properly place his product or service in a target market for the best possible outcome. BookMyEssay is one of the most efficient assignment writing service that has been providing the most professional writers to students intending to complete their segmentation targeting position or STP assignments successfully. There are many complicated topics and applications includes in STP model, which require years of experience and practice to grasp efficiently. At the initial stages, handling these types of assignments is really a tough affair. But the writers of BookMyEssay make the matter easier for the students and provide online segmentation positioning assignment help.
Segmentation, Targeting and Positioning: An Overview
STP model comprises of three stages –
- Stage 1 – Segment the market: Group up the types of customers or potential customers available in a market.
- Stage 2 – Targeting the best customers: Picking up the most suitable segment, i.e. types of customers for the product or service.
- Stage 3 – Position the offering: Optimizing the product or service to make it suitable for the targeted segment.
The STP model is so successful in the market, because it efficiently segments the market and then optimize the offering as per the fundamental requirement of the targeted segment. In this model, the management at first research on the targeted segment very professionally, then decide on the marketing strategy. Thus, the “offering” is nicely customized, so also promotional campaigns and advertisements.
Market segmentation – It is the most important part in STP model, because accurate segmentation can only make the other two aspects successful. It involves efficiently finding out kinds of consumers with different needs and expectations. Different people expect different facilities from the same product, like from a motor cycle some buyers want high speed, and some style, while many others expect top levels of safety. But it is not possible to meet everybody’s expectation. It is the management’s responsibility to chose the right segment of consumers, whom they think, they will be able to satisfy to the maximum possible extent. It is also found that the organizations who segment a target market in this way achieve sales target more efficiently than their competitors. Different kinds of variables can be used for segmentation –
- Demographic segmentation is the most common one. It classifies the consumers on the basis of income, sex, age, location, family size, and ethnicity, etc.
- Segmentation is also done on the basis of consumer behavior too. Some consumers are brand loyal – no matter how attractive is the offer of the other brands, they will not change their current brand. Again, there are some consumers, who use more than one brand at time. In this way, different types of consumers show different behavior.
- Experts also use ‘benefits consumers sought‘ to segment the market, like some consumers look for the antibacterial effects in a soap, while many others prefer to choose scented soap and they have wide array of preference in this matter.
Market targeting – The next step is to targeting a particular segment. In this aspect too, a number of factors are considered by the management before taking the final decision –
- How the present companies are serving that segment?
- What is the present volume of the segment, and what is its growth rate?
- What strength in different departments is required to work with the targeted segment?
It is necessary to create a strategy on sales promotion and advertisement for the targeted segment. Getting addresses of the targeted consumers or knowing the simplest ways to reach them is also necessary. With different promotional tools, including the most modern form of digital marketing tools, the chosen segment can be successfully targeted.
Market positioning – It is the last stage of the STP model. In this stage, the management needs to decide on creating an image of their offered products or service. Sometimes, companies prefer to create a single image for the brand as a whole, like Apple, who has opted to create an image of an “user-friendly” brand. If segmentation is done correctly, product positioning will not be a problem for the company.
Segmentation, Targeting, and Positioning (STP) Assignment
Working on STP assignments is a challenge for the students. Examiners like to see, how efficiently the students are using the model and analyzing a given situation. Segmenting a market is the toughest job. Again, using the right promotional tools and optimizing the offering are also challenging tasks.
The professional Segmentation, targeting and positioning assignment writing service offered by BookMyEssay ensures 100% plagiarism free customized STP assignments at very reasonable price.