How to do market positioning and market segmentation?

Target marketing is also called STP marketing or STP trilogy, where s refers to market segmentation, that is, market segmentation; T represents the target market, that is, selecting the target market; P stands for positioning, which means market positioning. Because of this, marketing guru and philip kotler believe that the core of contemporary strategic marketing can be defined as STP.

Target marketing has three main steps:

The first step is market segmentation. It is a market classification process that marketers divide the market of a product into several consumer groups according to the obvious differences in demand, desire, buying behavior and buying habits of consumers (including life consumers and production consumers) through market research.

PS: The basis of market segmentation is the diversity of consumption demand of the same product.

The second step is to determine the target market. It is the market that enterprises should meet in marketing activities, and it is also the market that enterprises should enter in order to achieve their expected goals. Generally speaking, market segmentation is the basis and premise for enterprises to choose and determine the target market.

The third step is market positioning. According to the position of competitors' existing products in the market, and in view of the importance that consumers or users attach to certain features or attributes of the products, we can strongly shape the distinctive and impressive personality or image of the products of this enterprise, and vividly convey this image to customers, so as to determine the appropriate position of the products in the market. In other words, market positioning is to shape the position of a product in the market, which depends on how consumers or users know this product.