In fact, you can easily find examples of STP Marketing in almost all major brands today. However, we will provide a new example as if you wanted to build a business from scratch. Let’s just say, you want to start a culinary business. You have done market research and found that the culinary delights are cafes that sell various types of drinks and snacks. Well, with the example above, roughly your STP marketing strategy will be like this:
1. Segmentation
Cafes are popular among young people, so you choose this target market. Then you divide this market into two psychographic segments: rich youth and low-income people. Rich youth cafes certainly have premium menus with above-average prices. Meanwhile, for young people with mediocre pockets, the menu is simpler with affordable prices.
2. Target
Let’s analyze targeting using the three points outlined above:
- Profitability
Apparently, from the two market segments, cafes with friendly prices are more popular among young people. Those with mediocre money can still enjoy it. And at the same time, rich young people also don’t hesitate to visit it if the cafe has good reviews.
- Size and Growth Potential
The two markets that you shared earlier are quite large and have good potential to grow in the future. However, after you do some more research, it turns out that the market for mediocre youth is growing faster. The reason is simple: more young people have mediocre pockets than rich young people.
- Ease of Access
Expensive cafes for rich kids must have a large parking lot because they bring their own car. However, you have searched here and there and it turns out that the place that fits the budget has a small parking lot. At most it can only fit a maximum of two cars. Well, based on the analysis above, you decided to open a friendly priced cafe. So it is suitable for school children, students, and even workers.
3. Positioning
Cafes are mushrooming everywhere. If you don’t offer something different, your cafe won’t be able to compete and it’s on its way to bankruptcy. You think hard and do your research. You check various reviews on the internet and social media, visit all low-priced cafes in the city, and ask their customers directly. Finally, you get one conclusion: almost all the WiFi in other cafes have slow speeds and the signal is uneven. In fact, not a few who want to use the WiFi to do assignments, thesis, or mabar online games while chatting with friends or sipping coffee. As a result, after knowing that WiFi is slow, most will immediately leave or will not visit the cafe again. Well, here’s a loophole that you can take advantage of. With fast and even WiFi, you offer a solution that other low-priced cafes don’t have. The above is just a simple example that aims to give you an idea of how it works in the real world. You can notice that with STP, the cafe offers an advantage over competitors. If it’s like this, it’s just a matter of time for your cafe to dominate this market segment.
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