Market Segmenting, Targeting, and Positioning

Let's consider segmenting, targeting, and positioning (STP), known as the strategic marketing formula that helps marketers identify and segment their audience, target their market, and post their products to cultivate their desired brand position.

Selecting Target Markets and Target-Market Strategies

Target-Market Strategies: Choosing the Number of Markets to Target

Henry Ford proved that mass marketing can work - at least for a while. Mass marketing is also efficient because you don't have to tailor any part of the offering for different groups of consumers, which is more work and costs more money. The problem is that buyers are not all alike. If a competitor comes along and offers these groups a product (or products) that better meet their needs, you will lose business.