STP Strategy

[[What is STP ?[[

BENEFITS

  • Better understanding of customers and their needs.
  • Increased effectiveness of marketing efforts.
  • Improved customer satisfaction and loyalty.
  • Higher profitability and growth.

 

  1. ]]Segmentation]]
    • Defi : divide market into distinct groups of customers (same needs/ characteristics) → identify → reach strategy effectively
  • Types

 

%%Not only customer, also about supplier%%

 

  • Requirements

Identity • Accessibility • Responsiveness • Size • Nature of demand • Measurability

  1. ]]Targeting]]
    • Defi : select one or more segments to focus and allocate marketing resources → identify the most profitable segments → develop marketing strategies → reach customer effectively
  • Types

 

  1. ]]@@Positioning/differentiation@@]]
    • Defi : developing product image/ identity → in mind of targeted customer → differentiate apart from competitors → create a strong and favorable perception among the target customers
  • Types
    • Unique selling proposition (USP): a unique benefit that differentiates the product or service from its competitors.
    • Positioning statement: a clear and concise statement that summarizes the unique benefit and target customer of the product or service.
    • Brand personality: the personality or image that the brand conveys to its customers through its communication and marketing efforts.

Elements for positioning/differentiation

Product differentiation • Service differentiation • Image differentiation • People differentiation • Channel differentiation • Technology differentiation

 

10% - bonus point -MKT is - value from cus&equity-role, function, , process, primary activity(margin: boundary btw cus&inside) , flow, level, distinguish mindset MKT evolution MKT

-STP MKT Segment : cus & supplier

-4Ps 5 product level : exam : asked beased on groupwork

  • PRICING   fixed cost (pay if you do bus : electricity, rent, variable cost( pay customer…) -> total cost (defi) are…..?   price elasticity : know more =((   skim(set high -> skim-> max profit) & penetration( oppposite , max quality…)   4 pricing approaches   gia niem yet   yield

-PROMOTION integrated MKT commu.. AIDA, (*) communication objectives KOL ..know more =(( set promotional budget methods for budgeting : (4) push(force..)&pull(create value..) MKT ..know more =))

PLACE Supply chain stream role of distributors/in.. mkt channel : delivery customer value nature and importance (*) channel conflict * channel manag..decisions cross-functional teamwork insider third-party

Exam - based on groupwork =)))))