MANAGEMENT

Detailed explanation-1: -In short, STP is a marketing approach where you segment your audience, target the best-fit audience segments for your product, and position your product to capture your target segment effectively.

Detailed explanation-2: -Demographic, psychographic, behavioral and geographic segmentation are considered the four main types of market segmentation, but there are also many other strategies you can use, including numerous variations on the four main types. Here are several more methods you may want to look into.

Detailed explanation-3: -Market Segmentation Process. The process of market segmentation consists of 5 steps: 1) group potential buyers into segments; 2) group products into categories; 3) develop market-product grid and estimate market sizes; 4) select target markets; and 5) take marketing actions to reach target markets.

Detailed explanation-4: -STP in marketing stands for segmentation, targeting, and positioning. These three basic steps dictate how marketers can identify the right customers, serve them the right messaging, and give them the information they need for successful targeting.

Detailed explanation-5: -The three-step funnel consists of market segmentation, market targeting, and product positioning. Within your research-based market segmentation phase, you are aiming to identify a basis for the segmentation of your target customers, and determine important characteristics to differentiate each market segment.