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Final

MKC3140 Final:Premium

2 pages48 viewsSummer 2018

Department
Business - Marketing - MKC
Course Code
MKC3140
Professor
Felix
Study Guide
Final

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MKC3140 Notes
Segmenting, Targeting, and Positioning (STP) Approach
To better match heterogeneous customer needs, firms focus their
efforts on small “homogenous” customer groups
Segmenting: Dividing market into groups of similar customers (slice the
pie into pieces)
Targeting: Selecting best customer group to sell to (picking the slice to
eat)
Positioning: Improve your relative advantage in the minds of your
targeted customers (also addresses Marketing Principle 3 by building
SCA)
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