Segmentation, Targeting & Positioning (STP)
1) Purpose of the Assessment You are required to produce an essay that demonstrates your understanding of this key aspect of strategic marketing. The essay should have: • a sound theoretical and conceptual perspective, containing evidence of critical debate with reference to appropriate academic literature. • sound examination of STP and its application in industry, with evidence, showing an effective practical foundation • generic management recommendations. NOTE: You must NOT undertake primary research as part of this assessment.
2) Assessment Task – 3000 Words • INTRODUCTION – 500 words • Discussion and critically analyzing –(From books, Journals & Articles) First Part (1000 words): “By reference to academic literature evaluate, and critique, the concept of Segmentation, Targeting & Positioning (STP)”
- Evaluate what is STP?
- How STP is used?
- Why STP is used?
- Strengths and weaknesses of STP?
- What are STP benefits?
- Why organization bother with STP?
- How is STP benefit the organization?
- How is STP benefit the customers?
- Always remember that STP is about customers. You may be describing and evaluating different products and brands, but it got be rate based on how customers. This part is based on Academic journals, books and literature to evaluate STP With supporting evidence, use appropriate examples from different industries (plural) to exemplify how different organizations (plural) have applied STP, to demonstrate your learning and application of this topic. Indicate how any company could apply the concepts around STP, making generic recommendations. “….positioning and segmentation are distinct parts of the [marketing] strategy and provide us with some extremely powerful tools; but ultimately they are linked by the central issue of focusing on satisfying customer’s needs in ways that are superior to competitors” (Hooley et al, 2012 p183)*. * Hooley et al (2012) Marketing Strategy & Competitive Positioning. 5th ed. Harlow Pearson. Second Part – (1000 words): With supporting evidence, use appropriate examples from different industries (plural) to exemplify how different organisations (plural) have applied STP, to demonstrate your learning and application of this topic. You need to demonstrate how different organizations are applying STP. 2) You need to include minimum 2 industry examples with 1 minimum product or brand in each of these industries. 3) In this part DON’T divide up STP. Don’t try to address Segmentation, then address Targeting then address Positioning an industry example. 4) Sometimes we can’t see what is going on with Segmentation, but we can see the results of it through Targeting and Positioning. • Conclusion – 500 words 3) Words Count The work will be submitted in essay format and should be 3000 words, +/- 10% (excluding cover page, contents page, titles and references list) 4) REFERENCES By reference to academic literature, critically evaluate this perspective on the above subject (HARVARD STYLE) Get Marketing homework help
More Assessment Samples: NUR251 Assessment 1 »ASSESSMENT BRIEF I MOBILE COMMUNICATIONS essay