A target market is a market segment that has been deliberately selected by an organization in order to focus their marketing efforts and offerings.
A segment profile is a descriptive summary of the size, needs, behaviors and preferences of consumers within a particular market segment, with the goal of evaluating segment attractiveness and developing suitable marketing strategies.
After constructing a set of market segments in the STP process, the market segments are then subject to evaluation against a set criteria.
This is a checkpoint stage in the STP process. Its goal … Read more...
There are two main approaches: cluster analysis (if data is available), otherwise segmentation trees.
Cluster analysis is an analysis designed to categorize objects to a pre-defined number of different groups, with … Read more...
A business segmentation base is definable characteristics or behavior of organizations that can be utilized to classify the organizations into related groups, for the purpose of target marketing.
STP stands Segmentation, Targeting and Positioning
STP is a process where a marketer:
Perceptual maps are often quite difficult to format, so take advantage of the free perceptual map template that I have built for Microsoft Excel.
It is quick and easy to use – … Read more...
