“….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 evaluate, and critique, the concept of Segmentation, Targeting & Positioning (STP). With supporting evidence, use appropriate examples from different industries (plural) to exemplify how different 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.
You are required to produce an essay that demonstrates your understanding of this key aspect of strategic marketing.
The essay should have:
• a sound theoretical and conceptual perspective, containing evidence of critical debate with reference to appropriate academic literature
• sound examination of STP and its application in industry, with evidence, showing an effective practical foundation
• generic management recommendations.