Importance of Segmentation, Targeting and Positioning in a Business: A Case Study of Marriott

Assessment

Table of Contents
Research topic for the project..........................................................................................................1
INTRODUCTION...........................................................................................................................1
Reviewing the relevant articles for the literature support ...............................................................1
Setting the aims and objectives of the research...............................................................................4
Designing the questionnaires ..........................................................................................................4
Circulating the Questionnaire .........................................................................................................5
Finding the outcomes ......................................................................................................................6
Providing the final results with limitations and recommendations .................................................9
REFERENCES..............................................................................................................................11

Research topic for the project
Topic: To determine the importance of segmentation, targeting and positioning in a business. A
case study of Marriott.
INTRODUCTION
STP is one of the most important form of marketing approach that allows an organisation
to ensure its long term sustainability and growth as this approach help entity to find right
customers for right products and services (Yanti and Saraswati, 2020). This approach allows
organisation to maximise its sales by evaluating particular set of target market. In addition to
this, it has been evaluated that it also enable brand to effectively position their products their
services in target markets. Present report has been conducted on Marriott, company operates its
business services in hospitality segment and offers different types of high quality services to
customers. In this report formative discussions has been made on the concept, influence and
importance of STP upon company long term sustainability and growth. Along with this, aims and
objectives is also being included in this report. Along with this report also include questionnaire
and formative limitations and recommendations.
Reviewing the relevant articles for the literature support
Influence of STP over the company performance
According to the view point of Islam, 2020 STP is playing most important role for an
organisation higher growth as well profitability as it lead them towards selecting right candidates
for right products as well as services. With the help of this approach entity can effectively ensure
long term sustainability as well as growth in a well define and effective manner. In addition to
this, it has been evaluated that with the help of this tool entity can reduce risk of failure in
business. Furthermore, it has been underlined that by taking assistance of this approach business
organisation can attract rights customers by delivering them right message. It will aid entity to
effectively select targeted audiences in an efficient manner. With the help of this approach
organisation to effectively develop digital strategy and can attract large base of audience towards
organisational offerings. In addition to this, it has been evaluated that by taking assistance of this
process organisation can systematically select customers by making market analysis on the basis
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of geographic, demographic, psycho graphic and behavioural (Saputra, 2020). With the help of
all these factors entity can effectively segregate customers on the basis of income level,
nationality, gender, occupation, personality type, price sensitivity and more. In addition to this, it
has been underlined that STP is having significant influence upon company growth and
operations as it allows organisation to formulate a well effective marketing plan.
According to the analysis it has been evaluated that by undertaking use of STP analysis
company can safeguard themselves to repeat the marketing activities that further assist entity to
save their unnecessary wastage cost and funds. STP majorly influence upon company growth as
well as profitability as with the assistance of this entity can effectively conduct situational
analysis which is one of the most important segment of company through which they can offer
their services and products in more effectively manner within marketplace. In addition to this, it
has been evaluated that with the help of STP analysis evaluation of competitors can also been
done through which company can assure more growth and profitability in a well define and
effective manner. Thus, according to the above mentioned analysis it has been determined that
STP is having most important significance upon company performance as it allows entity to
determine various opportunities for higher growth and profitability.
Significance of STP for company growth
According to the view point of Chen and et. al, 2020 segmentation means dividing
market palace or target market into a smaller and more definable,accessible,actionable,profitable
categories which have growth potential. Its provides more precise form of market- company will
have a clear understanding of consumer and adequately about the market which helps them to
formulate and implement strategy successfully. Along with this it also facilitate effective
marketing strategy that offers an opportunities to understand consumer need and wants of
different categories or segments which help them to make more appropriate strategies. Along
with this it also provide company with the advantage of modern marketing- If the company
wants to satisfy its valued customers then the market segmentation is the only option. It is the
essential of modern market practices (Yanti and Saraswati, 2020). While on the other hand if it is
talked about targeting it is the process through which company identify its targeted customers
instead of trying to reach an entire market, brand uses target marketing to put there energy into
connecting a specific and defined group in a market. They can also reach the right audience –
targeting helps company to reach the right customers which provides them profitability and
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