BUS502: Strategic Marketing

Watch this video that includes definitions and examples of segmentation, targeting, and positioning with recognition of differentiation. Segmentation, targeting, and positioning (STP) is a marketing model used to:

1. Divide consumers into logical segments based on certain characteristics
2. Determine the target segment for an organization – the segment to which the organization can effectively appeal, meet its wants and needs, and profitably serve
3. Determine how the product or service should be positioned relative to similar products or services and in the minds of consumers.
4. The position may also be called a niche. Differentiation (D) builds upon positioning by distinguishing the product or service from competitive products based on product attributes or benefits. STP + D influence the 4 Ps and are among the key activities in strategic marketing planning. For the iPhone, how would you classify influential factors in market segmentation?