Analysis Of ' Mm4 ' By Dawn Iacobucci Essay

810 Words Nov 21st, 2015 4 Pages
Similar to the 5c’s and 4p’s, STP is another effective concept of the marketing framework. STP is segmentation, targeting, and positioning in marketing management. In chapters three, four, and five of the book, “MM4” by Dawn Iacobucci, Iacobucci discusses the importance of segmentation, targeting, and positioning in business marketing. Each concept is thoroughly examined and proven to be effective. In chapter three, Iacobucci discusses the first concept of STP, which is segmentation. Segmentation is a group of customers who share similar inclinations toward a brand. There are many different consumers who have dissimilar preferences and attitudes towards products and services. So marketers who try to meet every market may not hit the mark, this is known as mass marketing. Segmentation is needed tremendously because mass marketing does not cater to each individual group of consumers exclusively. In the chapter the author states three groups of customers in market segmentation. One is one-to-one marketing, which is not profitable, because the customer can tailor his/her products to their liking without the help of marketers. Another is marketing segmentation, which is just right, because each group of consumers can have products that are marketed specifically for them. More specifically, this can be called niche marketing. Niche marketing is taking a small group and marketing to them. Lastly, there is mass marketing, which has low customer satisfaction because products are…

Related Documents