Segmentation involves dividing a market or audience into distinct groups based on various criteria to target specific needs efficiently.
Segmentation, Targeting, and Positioning (STP) - a strategic model used for setting marketing priorities by categorizing markets, targeting specific segments, and positioning products to meet the needs of those segments.
Targeting involves selecting specific segments identified through segmentation to focus marketing efforts on. This practice is crucial for directing marketing strategies towards distinct groups within the market, ensuring higher efficiency and effectiveness.
Exploring the methods and importance of differentiation strategies in marketing to establish a strong brand identity and unique market positioning.
A marketing plan where all efforts are directed at one particular market segment, exemplified by luxury brands focusing on upscale audiences.
