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Segmenting, Targeting, Positioning (STP) is the process which marketers employ to select target markets. Segmentation is the process of ordering consumers into groups with similar product interests or needs. Targeting involves a company determining which market segments it believes it can satisfy, and then choosing an appropriate targeting strategy for the segments. Positioning is how consumers perceive a brand or product, particularly in relation to other brands and products.

The relation between target segments and product positioning is dependent on the age of the company. For a new company, they have the opportunity to decide what perceptions that want the public to have about the company as they are yet to have a position. Therefore they can choose the target market, and then decide on brand positioning. For a company that has existed for some time, they already have a present brand position. Brand positioning often takes time to build, and much time to change. For this......

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Approximate Word Count: 1126
Approximate Pages: 5 (250 words per double-spaced page)

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