By tutor2u on youtube.com
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In this business topic video, we will introduce you to the STP model of marketing strategy. STP stands for Segmentation, Targeting, and Positioning. Segmentation is the process of breaking down the market into parts that have similar needs and wants. Targeting is about choosing which segments to focus on in order to have the best chance of success. Positioning is about determining the right positioning for the product in terms of the features that the target customers want. The key benefit of segmentation is that it enables the marketing mix to be more accurate and better focused.