STP to a Bullseye for Profits!

Profitable Brand Positioning

Amid elegant surroundings, as the fragrant beriyani teased our palates and other senses ex-classmate yelled ‘STP’ and both of us collapsed into peals of laughter to the puzzlement of the others at dinner! And we had to explain our tortuous experiences at the hands of a supersonic lecturer (yes, he really was out of this world!) who had not-so-gently bent and molded us into Strategic Marketers. THANK YOU Dr. ML!

That was eons ago and ex-classmate was now a savvy and successful consultant in another country and had brought his business partners to discuss taking my innovation into their business.

Amid the tantalizing chutneys, melt-in-your-mouth vindaloo and soothing raitas, dinner talk had revolved around the myriad sectors that would benefit from it and how it could be promoted in their country. Would it be directly to the end-user? Or should it first be presented to the government agencies to adopt or maybe to the educational institutions to declare as their own product? What would be the most productive entry strategy for us to employ?

Then there was the pricing to the different buyers and the marketing fees to those who would carry it, not to mention licensing agreements etc. Well after much animated excitement about the vast buffet of possibilities before us, over aromatic masala teas we finally arrived at how we would prioritize taking the product to market and what pricing strategy would be most attractive in the long-term to secure repeat business and establish the brand.

It was at this point that the evocative ‘STP’ was interjected. It stands for Segment, Target, and Position and is a marketing method. What it means is that the road to taking a product or service to market begins with deciding on the segment to focus marketing efforts on, then to target a profitable part of that segment and to subsequently launch a positioning campaign that appeals to that targeted part of the segment. This road map enhances profitability and reduces wastage of advertising and other efforts.

Maybe you’ve been mulling over how to position a product or service and would like a sounding board? Just call me at (6)03-21697704 and I’ll be happy to lead you through the right STP for you .

BRING ME THE BRAND, I'LL INCREASE ITS PROFITS!