Marketing And Market Segmentation - Assessment Answer

Answer:


The purpose of this report is to discuss the article for marketing, segmentation and targeting. The area of STP or segmentation, targeting and positioning is the basis of the entire marketing strategy of firm. Therefore, it would be interesting to study the concepts of segmentation, targeting and positioning.

In the article, author argues that segmentation, targeting and positioning should be the first step towards the marketing strategy (Kumar & Zia, 2016). The elements of marketing like Product, Price, Place and Promotion are determined based on the selection of segmentation, targeting and positioning. Therefore, it is important that the organization should be smart while selecting the segmentation, targeting and positioning strategy.

This article explains the concepts of segmentation, targeting and positioning and how thee concepts are the basis of the marketing strategy. The author argued that while developing the marketing strategy, segmentation should be the first step for organizations (Kumar & Zia, 2016). Once the organization has divided the markets into different segments, the next step for organization should be targeting. Once the organization has a defined target market, the next step for the organization should be to define a positioning strategy that could be used to reach out to customers (Schlegelmilch, 2016).

I have learned a lot from this article. I have learned that segmentation, targeting and positioning should be the first step towards the marketing strategy. I have learned that the organizations should practice segmentation, targeting and positioning in this order to have a strong marketing strategy in place. 

References

Kumar, N.S. and Zia, M., 2016. A Three Dimensional Vertical Differentiation Model: Implications for Segmentation, Targeting and Positioning. Targeting and Positioning (April 3, 2016). Retrieved from: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2758430

Schlegelmilch, B.B., 2016. Segmenting Targeting and Positioning in Global Markets. In Global Marketing Strategy (pp. 63-82). Springer International Publishing. Retrieved from: https://link.springer.com/chapter/10.1007/978-3-319-26279-6_4

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