MKTM028 Assignment 2: Evaluating STP Concepts in Diverse Industries

This report provides a comprehensive analysis of the Segmentation, Targeting, and Positioning (STP) process in marketing, emphasizing its critical role in business success. The report defines and explains each component of the STP process, including demographic, geographic, behavioral, and psychographic segmentation. It highlights the importance of identifying the right target market and developing effective positioning strategies. The report uses examples of companies like Gucci and BMW to illustrate how STP strategies are applied in practice, showing how these companies segment their markets, target specific customer groups, and position their brands to achieve competitive advantage. The report also discusses the benefits of implementing STP strategies, such as more efficient marketing spending and improved customer satisfaction. The assignment is based on the module MKTM028 Strategic Marketing at the University of Northampton.