Tell about STP in marketing

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STP in marketing stands for Segmentation, Targeting, and Positioning. It is a strategic approach to marketing that helps businesses identify and reach their target audience.

Segmentation involves dividing the market into distinct groups of consumers with similar needs and characteristics.
Targeting is the process of selecting one or more of these segments to focus on based on factors like size, growth potential, and competition.
Positioning involves creating a unique and desirable image for the product or brand in the minds of the target audience.
Example: Coca-Cola segments its market based on demographics, psychographics, and behavioral factors to target specific consumer groups with tailored marketing strategies.
Example: Apple targets tech-savvy consumers with high disposable income by positioning its products as premium, innovative, and user-friendly.

Tell about STP in marketing

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