STP Strategy -

An Overview of Product-Variety Marketing

In this article, you’ll explore the history of product-variety marketing, learn about the factors that contributed to its emergence and widespread use, and understand how it has influenced consumer choice and competition.

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The Difference between Primary and Secondary Target Markets

Sometimes the terms of primary and secondary target markets are confused and misunderstood, and a secondary target market is inadvertently referred to as a “second” target market, however this is not correct.

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Why Use Concentrated Target Marketing?

While concentrated target market strategy may appear to be the "poor relation" when it comes to developing a targeting strategy, there are multiple advantages for a company who chooses to pursue ONE target market only = adopting a "concentrated target market strategy", by concentrating on a single market segment.

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How Concentrated Marketing Differs

There are differences between concentrated marketing, niche marketing, and mass marketing, although the terms are often interchanged.

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How Can Concentrated Marketers Grow ?

There is a misconception that concentrated marketing will limit growth. However, while the set of consumers targeted is limited to a single target market, that does not restrict growth opportunities for the firm.

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What is Concentrated Marketing?

Concentrated marketing is a target marketing strategy where the company chooses to “concentrate” on a single target market only.

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Alternate Ways to Create Market Segment

There are multiple approaches to creating market segments, from simple “guesswork” to more scientific data-driven techniques. On this website you will find an article that addresses the two main market segmentation tools – namely segmentation trees and cluster analysis. But the purpose of this article is to explore the for/against of a broader selection of market segment approaches.

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How many Target Markets?

How many target markets can a firm have? The starting point for any new form is one target market. And as firms grow, they look for opportunities by expanding their target markets. But the answer depends... find out more in this article.

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Examples of Sub-markets and Product-markets

In marketing, there is often confusion over the terms market, sub-market, and product-market. Students and practitioners alike can mistakenly use them interchangeably or fail to distinguish their roles in strategy. These examples are designed to clarify the key differences.

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Study Notes for the STP Process in Marketing

This section contains a summary of this website in a fast, easy study note format. For full information you should also review the main topics on this site, which includes many helpful diagrams (just follow the links provided for each topic below).

Study notes for the STP Process

Definitions

STP

Segmentation, Targeting, Positioning

The STP process is one of the core frameworks in marketing, guiding how firms can effectively reach and appeal to their intended audience.…

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