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> STP
STP
Preparation
Identify the target market
Gather relevant data and insights
Define objectives for segmentation
Assemble a cross-functional team
Segmentation
Analyze customer demographics
Segment based on psychographics
Assess behavioral patterns
Evaluate geographic factors
Targeting
Develop profiles for each segment
Assess market potential and profitability
Prioritize segments based on alignment with business goals
Select target market(s) for focus
Positioning
Create a unique value proposition for each target segment
Develop positioning statements
Identify key messages for communication
Design marketing strategies tailored to each segment
Implementation
Allocate resources for marketing efforts
Launch targeted campaigns
Monitor performance and customer response
Adjust strategies based on feedback and data
Review and Adjust
Evaluate the effectiveness of segmentation and targeting
Gather insights and feedback from stakeholders
Refine segments and targeting strategies as needed
Document lessons learned for future STP efforts
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