Fundamentals of Successful Marketing Essay 2022

Running head: FUNDAMENTALS OF SUCCESSFUL MARKETING
Fundamentals of Successful Marketing
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Definition of STP:
The STP process is a marketing plan, and is the commonest marketing model. The three step
model is a recent developed approach that essentially includes the marketing analysis and
marketing plan. STP, refers to, Segmentation, Targeting and Positioning and serves as a link
between the market and the product or service to be launched or placed (Baines, Fill, & Page,
2013).

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In the following essay the STP approach followed by KFC, one of the most popular joints of
Nez Zealnd, will be discussed.
Segmentation
Segmentation refers to the process of defining, dividing and sub- dividing a market, into
identifiable segments. To approach the customers in a better way, the company considers
all four of the market segmentations. However, they rigorously approach to, two of the

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market segments, one is Demography based market segmentation and the other is the
Psychographic segmentation.
Demographic: in demographic segmentation the company considers the market to be
divided in three segments, age based segmentation, segmentation based on the family
size, food habit and income based segmentation.
Age Based: KFC approaches to all the age groups of the society. From 8 to 80, all are
attracted to the crispy wings that re offered by the company. However, the prime consumers
of the company are the younger generation and the middle aged group.
Income Based: Income is the key factor that is considered by all the organizations. When it
comes to availing food services from the food joints, then all the companies focus upon the
income groups and accordingly, they tailor their pricing structure, and this is true for all the
companies including KFC (Baines et al., 2017).
Family Size: KFC includes the size of the family as a very important aspects to consider, and
further, tailor their products accordingly, for both, singles and families.
Food Habit: Since New Zealand is a multicultural country, therefore, there are variety of food
habits and food specificities, observed in the country. Therefore, to grab the market, and to
attract the attention of all the people, the company has rightly included food variation into
their organizational conducts and for products.
Psychographic: KFC considers the psychographic segment to be very important and
therefore, plan for their products and their target approaches accordingly. It can be
seen that the food company essentially approaches the higher class or the upper class
sections of the society, and the price structure that includes, is also quite higher. They