n this unit you will submit Part C of your Marketing Plan. Again, use the Writing Assistance Center (WAC) to save time and to make higher grades.
STP analysis is a three-step approach to building a targeted marketing plan. The "S" stands for segmenting, the "T" for targeting and the "P" for positioning. Segmentation divides the markets into groups of customers who might be interested in the products offered to them. Targeting is the process of deciding which segments to pursue. Positioning is the process of determining how the company wants to pursue the target and how it wants to distinguish itself from the competition. Going through this process allows a business to formulate a marketing strategy that ties company,
and and product benefits to specific customer market segments.
Prepare this part of the plan in a Word document, using APA style. The plan should be approximately 1-2 pages long, not including the cover page and references page.You should use 1-2 resources, one of which can be the company's website. (Remember: Your final plan in Unit 5 must show at least 4 resources.)
Use these headings in bold font in your plan and cover the points beneath each heading.
· Which bases of segmentation does your chosen business use?
· Note: There are four bases of segmentation: Demographics, Psychographics, Behaviors, and Geography.
· Identify and describe the markets your business targets using their market segmentation.
· Describe how your chosen business positions itself in the market.
· (Positioning is how you align your
and or products in the target market. The goal is to offer something that is bigger, better or more valuable than your competitors to a particular market segment. Refer back to the competitive advantage of your marketing plan in Unit 1.)