Question

what are the STP in marketing planning??
choose a brand/product to analyse the STP

Answer 1

In marketing planning STP is a three-step approach to build a concrete marketing plan. S means Segmenting, T means Targeting and P means Positioning.

Segmenting : Segmenting refers to the practice of dividing consumers into groups on the basis of needs, desires and preferences. By using this technique a company can attract customers of each group by considering their specific needs. Generally, skin care, hair care and cosmetic product manufacturers use segmentation technique to appeal customers of various groups. For example, take the case of talcom powder, for women it is packaged in soft, gentle colors, whereas for men it is packaged in hard and dark colors. Talcom powder is used for the same purpose both for the men and women but it is different in packaging and advertising. The talcom powder companies segmented the market on the basis of type of skins. For hard skin, i.e., for men talcom powder is different whereas for soft skin (women) manufacturing of powder is different.

Targeting: When there are multiple, different market segments, it needs to customize marketing plans that appeal each customer. You have to target a particular market segment. For example, giant online selling companies like Amazon, Walmart target mostly high-income and educated people who are conscious about the health benefits of various products.

Positioning: It means how you stabilize your brands or products in the target market. The main aim is to make strong a company's position than its competitors. For example, Amazon makes strong its position by innovative supply chain and upgraded technology. So positioning provides a big picture guide in building marketing plans.