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A company can effectively segment its market by conducting Segmentation, Targeting and Positioning (STP) research. This involves identifying different segments within the market, targeting the most profitable segments, and positioning the company's offerings in a way that appeals to the target segments. The segmentation process should be guided by specific, measurable, achievable, relevant and time-bound objectives. It's also important to discuss financial objectives upfront to ensure the marketing budget is used effectively.
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Use this slide to communicate the results of your Segmentation, Targeting and Positioning (STP) research. This means talking about your strategy to Segment your market, Target your best customers and Position your offering. Introduce main marketing objectives (brand's defined goals) to your stakeholders with this slide. Make sure that your objectives are specific, measurable, achievable, relevant and time-bound. Also mention, how you'll will qualify them. Marketing executives are often challenged with justifying budgets to the company leadership. That is why discussing financial objectives is imperative. Talking about expenses upfront will better your chances of staying within the allocated budget.
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What steps can businesses take to make their marketing goals measurable and achievable? Align your vision with new opportunities with our Marketing Pl...
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