Segmenting, Targeting, and Positioning of BodyShop Company
INTRODUCTION
Segmentation, targeting, and positioning strategy are important because it provides the information the business needed about the market and the consumers out there. By segmenting the market, the company can know about what each market segment needs and wants. Then they analyze whether the company’s resources are enough to meet those needs and wants. Resources are limited, and this will help the company to carefully target to the right market segment. Positioning helps the company to analyze competitor’s performance, and then the company can place itself in the right position. Once they know their place, they can identify the competitive advantage that might be possible to achieve and also the disadvantages.
By using an aid of a product from a personal grooming and health care industry, I will discuss about the application of STP strategy and the marketing mix of the product. The product I chose is The New Body Butter Duo from The Body Shop. This company, which is known by its natural based product, launched a new product which gives double benefits for the consumers. Unlike the other body butter product, Body Butter Duo provides two types of cream in one pot. The lighter colored cream is for where skin needs less hydration, while the darker colored cream is for the drier skin part, such as elbows and knees. It comes with four different variants; Sweet Pea, Vanilla, Floral Acai, and Macadamia. Each of them gives different sensation and scent with the same benefits.
MAIN REPORT
Part 1: Segmentation, Targeting, Positioning Strategy
1.1 Market Segmentation
The first step to do in STP strategy is segmenting the market. Market segmentation is when the market is divided into different groups of consumers based on their similarity. Marketers should be able to identify different groups of customers and pick the right strategy or marketing mix for each group.
There are several most common ways of segmenting the market according to their common
Segmentation, targeting, and positioning strategy are important because it provides the information the business needed about the market and the consumers out there. By segmenting the market, the company can know about what each market segment needs and wants. Then they analyze whether the company’s resources are enough to meet those needs and wants. Resources are limited, and this will help the company to carefully target to the right market segment. Positioning helps the company to analyze competitor’s performance, and then the company can place itself in the right position. Once they know their place, they can identify the competitive advantage that might be possible to achieve and also the disadvantages.
By using an aid of a product from a personal grooming and health care industry, I will discuss about the application of STP strategy and the marketing mix of the product. The product I chose is The New Body Butter Duo from The Body Shop. This company, which is known by its natural based product, launched a new product which gives double benefits for the consumers. Unlike the other body butter product, Body Butter Duo provides two types of cream in one pot. The lighter colored cream is for where skin needs less hydration, while the darker colored cream is for the drier skin part, such as elbows and knees. It comes with four different variants; Sweet Pea, Vanilla, Floral Acai, and Macadamia. Each of them gives different sensation and scent with the same benefits.
MAIN REPORT
Part 1: Segmentation, Targeting, Positioning Strategy
1.1 Market Segmentation
The first step to do in STP strategy is segmenting the market. Market segmentation is when the market is divided into different groups of consumers based on their similarity. Marketers should be able to identify different groups of customers and pick the right strategy or marketing mix for each group.
There are several most common ways of segmenting the market according to their common