What is Procter and Gamble segmentation strategy?
What is Procter and Gamble segmentation strategy?
Psychographic Segmentation: By psychographic segmentation P&G divides its consumers and buyers into different individual groups based on social class, life style, life cycle and personality characteristics. But people in a same demographic group can have very different psychographic makeup.
What is the segmentation targeting and positioning strategy?
What is STP in marketing? STP marketing (Segmentation, Targeting, and Positioning) is a three-step marketing framework. With the STP process, you segment your market, target your customers, and position your offering to each segment.
What are the 4 segmentation process?
There are four key types of market segmentation that you should be aware of, which include demographic, geographic, psychographic, and behavioral segmentations. It’s important to understand what these four segmentations are if you want your company to garner lasting success.
Who does P&G target?
“We are going from generic demographic targeting, like women aged 18 to 35, to more than 350 precise smart audiences, like first-time mums, millennial professionals or first-time washing machine owners, to help us reach the right people at the right time, in the right place,” he explained.
What are the marketing strategies of Procter and Gamble?
Procter & Gamble uses differentiation as its generic strategy for competitive advantage. Differentiation involves developing the uniqueness of the business and its products to attract target customers. In this case, Procter & Gamble highlights quality and value in its consumer goods.
What are the 5 steps in the STP process?
STP
- establish overall strategy.
- segmentation.
- evaluate segment attractiveness.
- select target market.
- identify and develop positioning strategy.
What are two approaches to positioning?
There are three standard types of product positioning strategies brands should consider: comparative, differentiation, and segmentation.
