Philip Kotler, the grand dean of marketing textbooks, has suggested that if marketers can nail their target and position, all other aspects of a marketing campaign will fall into place. Target and position define whom we are trying to reach with our marketing campaign, and what message (or position) we will use to connect. The concepts of targeting and positioning are so critical to marketing success that we now dedicate an entire unit to them.
So, let’s now consider the concept of segmenting, targeting, and positioning (STP), known as the strategic marketing formula that helps marketers identify and segment their audience, target their market, and posture their products to cultivate their desired brand position.
Completing this unit should take you approximately 5 hours. Upon successful completion of this unit, you will be able to:
- define the STP strategy; and
- identify the place of targeting and positioning in the marketing campaign.