The STP Framework in Marketing

As you already know, STP stands for segmentation, targeting and positioning. It is a framework used to identify the most valuable market segments.

Before you get into the details of the framework, watch the next video to get introduced to it.

As you saw in the video, the STP framework helps you position a product or service to efficiently target different sets of customers. STP does not just help you target customers but helps identify and target the right kind of customers.

In the next segment, you will learn about segmentation in detail.

As you saw, in the above video Marks and Spencer struggled to build customer value in the new market that they were entering.

Next, let us take a look at what challenges does a brand faces when entering a new market and how to understand consumer value before we start applying the STP framework. Let's hear about it from our adjunct faculty Sabia.