How does STP analysis help in identifying target customers?

STP analysis, which stands for Segmentation, Targeting, and Positioning, is a strategic marketing tool that helps companies identify and understand their target customers. By segmenting the market based on various factors such as demographics, psychographics, and behavior, companies can divide their potential customer base into smaller, more manageable groups. Once the market segments are identified, companies can then evaluate and select which segments align with their objectives and resources to target. This process allows businesses to focus their efforts on specific customer groups, tailoring their marketing strategies and offerings to meet the needs and preferences of these target customers. Overall, STP analysis helps companies effectively identify their target customers, enabling them to maximize the impact of their marketing efforts and drive business growth.

This mind map was published on 19 December 2023 and has been viewed 48 times.