Contents
This report is based on the following requirements - - “….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.
- By reference to academic literature, explore, evaluate, and critique, the concept of Segmentation, Targeting & Positioning (STP). Use appropriate industry examples (plural) to exemplify how organisations (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.
Description
This paper discusses about strategic marketing which has played the key role in the context of modern marketing. The paper explains the words of Hooley et al. regarding positioning and segmentation as being the distinctive parts of the marketing strategy. The paper begins with defining strategy and marketing and then narrows down to strategic marketing. It discusses how strategic marketing helps an organization in the long run and how it can be implemented. The paper states about the cycle of STP which when implemented appropriately can be said to be effective for the organizations adapting to it. It also states that these aspects primarily focus on satisfying the needs of the customers in a much superior manner than the company rivals. The study reflects the three categories individually in regards to the extent to which it makes possible the organization to satisfy consumer needs. The adoption if this technique in the strategic marketing by several organizations like McDonald’s, Ray Ban, Fastrack, Tata Motors is also discussed in this paper.
