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STP the right way
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- 3. Tapish Panwar Context • Companiescannot connect with every customer in an effective and efficient way • Segment - market into Homogenous units • Target - the most profitable(relevant) unit • Position - the product or service to the chosen segments or units
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- 5. Tapish Panwar Why? • Caterdifferent customer groups or segments (Hence increase sales & profit) • Having different needs (customer profile) • With different products (serving differently) • Through different channels (Reach right TG) • Using different communication (Relevant to TG) • At different prices (Purchasing Power & Utility)
- 6. Tapish Panwar Creating Homogenousgroups of a Heterogeneous population and Target One or more Homogenous groups to serve
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- 12. Tapish Panwar Female Working Professional s Whowear Spectacles
- 13. Tapish Panwar Targeting TrendySpectacles for the business women on roll
- 14. Tapish Panwar Segmentation Geographic RegionCity Rural/Urban Demographic Age Family Size Gender Income Occupation Education Psychographic Lifestyle Personality SBI VALS Behavioural Needs or Benefits Based Decision Roles User and Usage based New SEC Accessible Differentiable Actionable Measurable Substantial
- 15. Tapish Panwar Myers-Briggs Type Indicator®(MBTI®) personalitytypes - Extraversion or Introversion - Sensing or Intuition - Thinking or Feeling - Judging or Perceiving
- 16. Tapish Panwar Strategic BusinessInsight’s’ VAL s Framework for Psychographic Classification
- 17. Tapish Panwar Targeting •Probability ofmaking profits on the movie - High • Segment Growth Potential •Number of available actors & actresses - High • Size of the Segment and scale of economies •Expenditure – Low • Cost of Entry into the Segment and Profitability •Acting ability – High • Low Risk in investment Customer consumption pattern SizeGrowth Profitability Scale of Economies Low Risk Ability to Serve
- 18. Tapish Panwar Targeting Areas Segment1 Segment 2 Segment 3 Segment 4 Segment 5 Segment 6 Segment 7 Segment 8 Full Market Coverage Multiple Segments SingleSegment
- 19. Tapish Panwar Positioning Designing acompany’s offering and communication to occupy a distinctive position in prospect’s mind
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- 21. Tapish Panwar Positioning • Points-of-Difference(PODs) • Freedom of Self-expression to actor • Involves actors in the scripting • Points-of-Parity (POPs) • Disciplined with schedule • Good taste in music
- 22. Tapish Panwar Positioning • Points-of-Difference(PODs) • Freedom of Self-expression to actor • Involves actors in the scripting • Points-of-Parity (POPs) • Disciplined with schedule • Good taste in music
- 23. Tapish Panwar Positioning By PerceptualMapping Parameter 2 Parameter 2 Parameter 1 Parameter 1 Less More More Less 1 2 5 4 3 Competitor 1 Competitor 2 No Competitor catering this segment. Eureka!
- 24. Tapish Panwar Positioning Statement •To (TG) our (Brand) is (concept) that (POD) • To busy, mobile professionals who need to stay connected at any time, the uPhone 6 is a wireless connectivity solution that provides you with an easier, more reliable way to stay in connection with data and people while on the go.
- 25. Tapish Panwar Hope ithelped!