Segmentation, targeting, and positioning are important marketing strategies. Segmentation involves dividing the market into subgroups based on variables like geography, demographics, psychographics, and behavior. Effective segmentation results in groups that are measurable, accessible, substantial, differentiable, and actionable. Targeting involves selecting specific segments to target with tailored marketing programs. Positioning is how a product is defined in consumers' minds relative to competitors based on attributes, benefits, and competitive advantages.