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To target the best customers, you can use strategies such as segmentation, targeting, and positioning (STP). Segmentation involves dividing your market into distinct groups with different needs, preferences, or characteristics. Targeting involves choosing which segments to focus on based on their potential profitability and fit with your business. Positioning involves designing your offering to meet the needs of your target customers and differentiate it from competitors. Additionally, setting specific, measurable, achievable, relevant, and time-bound marketing objectives can help guide your strategy.
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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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