Search results
Results from the WOW.Com Content Network
Positioning is part of the broader marketing strategy which includes three basic decision levels, namely segmentation, targeting and positioning, sometimes known as the S-T-P approach: Segmentation : refers to the process of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of ...
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 ]
A company also chooses one of two types of scope, either focus (offering its products to selected segments of the market) or industry-wide, offering its product across many market segments. The generic strategy reflects the choices made regarding both the type of competitive advantage and the scope. The concept was described by Michael Porter ...
He described strategy formation and implementation as an ongoing, never-ending, integrated process requiring continuous reassessment and reformation. Strategic management is planned and emergent, dynamic and interactive. J. Moncrieff (1999) stressed strategy dynamics. [97] He claimed that strategy is partially deliberate and partially unplanned.
The positioning concept focuses on creating an image that will best attract the intended audience. Businesses that implement the positioning concept focus on promotion, price, placement and product. When the positioning concept is effective and productive it elevates the marketing efforts made by a business, and assists the buyer in purchasing ...
To create an effective, cost-efficient marketing management strategy, firms must possess a detailed, objective understanding of their own business and the market in which they operate. [7] In analyzing these issues, the discipline of marketing management often overlaps with the related discipline of strategic planning.
The search engine that helps you find exactly what you're looking for. Find the most relevant information, video, images, and answers from all across the Web.
Firms typically develop a detailed positioning statement which includes the target market definition, the market need, the product name and category, the key benefit delivered and the basis of the product's differentiation from any competing alternatives. The communications strategy is the primary means by which businesses communicate their ...