Segmentation, Targeting and Positioning (STP) is an important model in marketing. By using this model, business can identify and find new customers, deliver more focused and effective marketing campaigns and develop and deliver relevant messages that can engage segmented and target audiences. Read the case study on Coca-Cola and consider the following within your answer: • Give some background to your understanding of the STP concept. Briefly describe how segmentation, targeting and positioning can be used by an organisation and the different ways it can be applied. • What are the differences in the demographic and psychographic approaches to segmenting a market? • How has Coca-Cola tried to improve its overall image in the market and how has positioning helped the brand? • How has the brand used new product releases to position itself in the market and what segments of the market is it now trying to attract? Could demographic or psychographic approaches be useful here? • Describe how Coca-Cola could make use of new forms of technology such as social media to target specific segments of the market. • In your opinion, what are the most valuable segments of the market for the brand to concentrate on and how could the marketing mix be used to target these segments? Consider including a marketing mix model within this part of your answer.
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