What is STP ❓ How to analyze STP Marketing?

What is STP ❓ How to analyze STP Marketing?

📌 What is STP (STP Marketing)?

STP is a market analysis tool that consists of Segmentation Targeting and Positioning or Market Segmentation. target audience selection product placement The function of STP is to set goals, align, and plan strategies for creating and communicating product 'points of sale' that are most relevant to the main target group.

📌Subtopics of STP

S = Segmentation Customer grouping

T = Targeting customer/target market selection

P = Positioning Market positioning or positioning.

📌Segmentation

Segmetation refers to market segmentation. By using the rules of division to see the market clearly before It is the grouping of the target group into a group so that the business people can see that the market that the product or service that we are going to market is who, how many groups and how much.

🔸 Market Segmentation Dividers can use this basic factor to segment the market as follows:

1. Demographic Segmentation, which has variables for determining market segments according to demographics, for example:

- Sex (Sex) is male or female, the latter may have more gender, such as gay, lesbian, etc.

Age (Age), such as under 10 years old, adolescence 15-20 years, working age 25-60 years, 20-35 years old, or retirement age 60 years or more. Or perhaps it could be used as a Generational segmentation such as Babyboomer, Gen X, Gen Y, Gen Z.

- Occupation such as civil servants, employees, farmers, students, housewives, etc.

- Income (Income) such as less than 5,000 baht, 5,001-20,000 baht or 20,000 baht or more, etc.

- Education (Education) such as primary school, secondary school, vocational education, bachelor's degree, higher than bachelor's degree, etc.

- Family size such as 1 or 2 people, 3-5 people and 6 people or more, etc.

- Home ownership characteristics such as renting or buying and still paying installments or being a full owner

- Family Life Cycle, such as single, married and no children Married and have young children Married, having grown up children, etc.

- Race (Race) such as Thai, Chinese, Japanese, English, German, American, etc.

- Religions such as Buddhism, Islam, Christianity, etc.

2. Geographic Segmentation is an analysis of the target group's area to determine where the area for marketing or selling products should be. The variables are divided into countries, regions, provinces, areas in provinces such as city centers, villages, rural areas.

- Regions such as Asia, Europe, Americas, North, Central, South, etc.

- Countries such as Thailand, China, the United States, etc.

- Climate (Climate) such as tropical, cold, warm, etc.

- Size of the city (City Size), such as population less than 100,000 people, population more than 1 million people, etc.

- Population Density such as capital, secondary cities, rural areas, community areas, etc.

3. Classified according to psychology (Psychographic Segmentation) Segment the market from the population by using psychology. There are variables used to divide, namely lifestyle, values, and personality of the user. social class

- Social class (Social Class), such as the middle class, has a different lifestyle than the upper class or the rich. Either the car or the used clothes. Comparable with income distribution, but psychologically, it may be like people with low incomes but taste for expensive things. that can't just look at the price

- Lifestyle such as listening to music, staying at home, etc.

- Personality (Personality), such as an introverted personality , friendly personality, like to socialize, etc.

4. Divided according to behavioral science (Behavior Segmentation) study the usage behavior of the target market There are variables used to measure results according to this topic.

opportunity of use (Purchase/Usage Occasion) such as never used, first time use, frequent use, special occasion use only, etc.

- Frequency of use (Frequency) such as how many times per day, how many times to wash your hair per 1 cycle or

- Utilization rate such as high, medium, low

- Benefit from the product (Benefit-Sought)

- Loyalty Status

- Groups that affect new products (Adopter Categories), such as early adopter consumer groups, early majority consumer groups Early Majority, late major consumer groups, late major consumer groups, laggard consumer groups

🔸 Effective market segmentation methods will look like this

1. Measurable (Measurable) in each market segment must be able to be measured in a quantitative form.

2. Accessible (Accessible) can meet the needs of that market.

3. There is a large enough market size. (Substantial) in each segment of the market must have enough demand to buy.

4. Actionable: Able to use marketing programs to motivate

5. have different characteristics (Differentiable) is the market segment where customers see different products. and marketing mix that is different from competitors

🔸Question: Why market segmentation? Segmentation?

Then you have enough budget and resources. To market to reach everyone or not? However, business budgets are limited. Therefore, we must try to divide the customers in the market into groups. In order to choose the best budget we have for the group of customers that we think have enough potential to generate income for the business. Like if you ever shoot a Facebook ad, if you don't define which group you will shoot at all. No matter how much you shoot for advertising, it's not worth it. waste of money Make advertising budgets vanish without any results. If your market segmentation is not correct, then targeting will not be effective.

📌 Targeting

After the Segmetation has been done, a group of customers will come. The next step is to choose which group we will focus on. Which group is likely to be our main customers? Targeting means determining this target market must be assessed as to how each group is suitable for our products. considering that the target market assess the market situation taking into account the size of the market Difficulty entering the market number of competitors in the market The intensity of competition in the market Who is the market leader? Here, we use the Five Forces Model to analyze and help us choose the market in which we will be able to sell products or services as well.

🔸 Choose a target market By choosing a market, there must be a relationship with the product. The method of selecting the market is as follows.

- Mass Market is choosing a market that covers every segment, capturing every group of customers or a relatively large segment or the mass market, for example by selling shampoo by female customers of all ages. There must be confidence that the product or service can satisfy all groups of people. In this case, it is mostly suitable for consumer products. Or products that are easy to buy, easy to use, accessible to everyone. But the difficulty of doing Mass Market, the owner of the business must have a high investment. And in this market, there are often price wars because products can be replaced at any time.

An example of doing Mass Market is the male market. such as shaving, soap, or women, children, or the elderly, most often see products in mass media as well, such as products advertised on TV

- Segment Market is to divide the market into parts according to the needs of different consumers to produce products or services to meet the needs of each group of consumers In this case, it is suitable for products or services that believe that the same product or service cannot meet all product groups. Therefore, more customers must be subdivided in order to produce products or services to meet customers' needs. Segment Market characteristics are similar to Mass Market, which is ready to meet the needs of consumers in the entire market. But different that Mass Market will use a single product to meet the needs of the whole market, but the segment market will divide more consumers. Then use different products to meet the entire market customer group, such as men of working age, women who are housewives. Or if it's a product, it's a type of sport, such as Nike brand shoes. will produce various types of sports shoes, including basketball, tennis, football, etc.

- Niche Market, selecting a niche market niche market Segmentation of customers into specific segments very detailed This case is suitable for products or services that do not have a high investment. Products or services that want to add value Most of these customers will have a small number. because it is more specific

Niche Market, for example, is a group of women working in the office aged 25-35 years old who are still single.

- One to one marketing, also known as 1:1 Marketing, one-on-one marketing It is individual marketing. Due to the complex behavior of today's customers and the need to seek out a variety of novelties all the time. They also want to have unique needs that are unique. The business and service sectors therefore need to understand the individuality of each customer. This will help producers of goods and services. Able to communicate and develop products or services that meet real consumers' needs quickly. In the past, face-to-face marketing was almost impossible. But with technology that is considered to be more modern One-to-one marketing is easier and more important. The heart of 1:1 Marketing is to keep a complete database of customer details and to make the most of the information obtained in the field of production or marketing. service and communication to that customer

The targeting process is important, requiring careful data and assessment to ensure that the market to which the business is going is viable. or at least is to be able to manage risks because if our products target the wrong audience May cause marketing to not have good results. In addition, knowing who the target audience is and also understanding the behavior of the target audience will lead to more effective marketing, such as What is your lifestyle like, where do you shop? online or not, or what do you like to do in your hobbies, etc.

📌Positioning

Positioning means positioning a product. Determination of special qualities or good image to arise in the minds of consumers. It has to consider the strengths of the product, quality, durability, appearance, style, price of the product. Purposeful use Repairs can be made easily. which these factors must compare with competitors in the market that we have something better or inferior Once the analysis is complete, we will be able to know where our products are in the market. Or maybe create a diagram to show the position of the product more clearly. As an example below

The above example is a diagram showing that a business's products are priced and of higher quality than their competitors. The x-axis is the price level and the Y-axis is the quality. However, other criteria can be used as a measure of both axes, such as durability, versatility, etc.

🔸Positioning can be divided into 3 main things:

1. Emotional is the position of emotion, feeling. Products that are suitable for positioning like this are products that are used to express status, luxury goods, and luxury items.

2. Functional is the point of use. product quality The real benefit of the product or service Products that are suitable for positioning like this are general products or services that focus on usability. Emphasize the properties of products and services as the main

3. Differentiation is the point of difference Differentiating from the same product in the market Products suitable for positioning like this are new products in the market. Products that cannot be substituted

🔸Benefits of STP – Advantages over other analytics tools

STP Analysis is a marketing strategy building and decision making tool. STP is ideal for product or service analysis. in order to select the most suitable market and strategy There are many advantages of using STP compared to other business tools.

Compared to other business analytics tools The highlight of STP analysis is that STP can be more 'implemented'.

Tools like Porter's Five Forces and SWOT are better suited for 'business overview' rather than 'product-specific analysis' and data extraction. Of course, it's best to use a combination of these tools to collect as much information as possible before you start building a strategy.

For example, a SWOT analysis or Porter's Five Forces can only describe the weaknesses and strengths of our business…compared to other factors, but the STP-4P can tell you exactly what strategy we should take next. What is

However, the ability 'Build a strategy' from these analytics tools is also up to the user. And if compared to marketing analysis, Marketing Mix 4P is suitable for creating strategies and marketing techniques only. STP analysis will also give us a better overview, especially the segmentation.

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