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In marketing, segmenting, targeting and positioning (STP) is a framework that implements market segmentation. [1] Market segmentation is a process, in which groups of buyers within a market are divided and profiled according to a range of variables, which determine the market characteristics and tendencies. [ 2 ]
The precise origins of the positioning concept are unclear. Cano (2003), Schwartzkopf (2008), and others have argued that the concepts of market segmentation and positioning were central to the tacit knowledge that informed brand advertising from the 1920s, but did not become codified in marketing textbooks and journal articles until the 1950s and 60s.
Market segmentation is the process of dividing mass markets into groups with similar needs and wants. [2] The rationale for market segmentation is that in order to achieve competitive advantage and superior performance, firms should: "(1) identify segments of industry demand, (2) target specific segments of demand, and (3) develop specific 'marketing mixes' for each targeted market segment ...
Quizlet was founded in October 2005 by Andrew Sutherland, who at the time was a 15-year old student, [2] and released to the public in January 2007. [3] Quizlet's primary products include digital flash cards, matching games, practice electronic assessments, and live quizzes. In 2017, 1 in 2 high school students used Quizlet. [4]
Positioning may refer to: Positioning (marketing), creating an identity in the minds of a target market; Positioning theory, a theory in social psychology; Positioning (critical literacy), reader context; Positioning (telecommunications), a technology to approximate where a mobile phone temporarily resides
Behavioral economics is the study of the psychological (e.g. cognitive, behavioral, affective, social) factors involved in the decisions of individuals or institutions, and how these decisions deviate from those implied by traditional economic theory.
Positioning theory is a theory in social psychology that characterizes interactions between individuals. "Position" can be defined as an alterable collection of beliefs of an individual with regards to their rights, duties, and obligations. "Positioning" is the mechanism through which roles are assigned or denied, either to oneself or others.
A target market, also known as serviceable obtainable market (SOM), is a group of customers within a business's serviceable available market at which a business aims its marketing efforts and resources. A target market is a subset of the total market for a product or service.