let's have a session segmentation targeting and positioning stp so segmentation the first step of sdp is when potential potential customers are divided into different segments and those segments could be demographics so age or gender geographic so the location or the country they're in income higher or lower behavioral so predictive patterns in the consumer or consumers psychographics so particular lifestyles they're interested in so that is segmentation more details on that click the card up there the next stage that a business might go through in their marketing procedure is targeting so targeting is which segment should they
target target which of these segments should they target should they use a mass marketing approach will they disregard any particular segment and they target them all or do they go for a niche marketing approach where they look at one particular segment whichever that may be and target that specific segment or even an area within that specific segment so even more niche or niche as the americans say number three is positioning so positions to do with what is the businesses competitive advantage what do you believe as a business as managers of the business what's your competitive
advantages and how do customers perceive you and that knowing that will help you to deploy your extended marketing mix your seven ps so for that we're thinking about if you're a product you'll be primarily focused on the first four piece so price so are you using skimming penetration or the other pricing strategies place what's your distribution mechanism is going to be promotion what type of advertising or sales promotions you may use and for product well you could be thinking about porter's generic strategies thinking about are you gonna have a differentiation or cost focus that will
loop into the design mix for your particular product then if you're a service you might want to think about the other parts of the extended marketing mix for the seven ps particularly the uk a very service heavy economy so if we're thinking about process what's the ease of transaction if we're thinking about people well who are the people that are serving you what's the experience that customers are going to see in that whether it's physical or it's digital and physical as well what's the experience within the purchase life cycle that the customers will see so
i hope that helps on stp and i'll see you next
