Marketing And Marketing Strategy: STP Of Spicejet

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STP of Spicejet
Segmentation, targeting, and positioning together comprise a three stage process.
(1) Determine which kinds of customers exist. Grouping consumers by some criteria, such that those within a group will respond similarly to a marketing action and those in a different group will respond differently.
(2) “Target market is a chosen segment of market which a company has decided to serve”. Select which ones we are best off trying to serve. Selecting target markets the strategist should develop positioning objectives to then develop them
(3) Grouping consumers by some criteria, such that those within a group will respond similarly to a marketing action and those in a different group will respond differently. Implement our segmentation
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For that company tried to reduce its costs and make possible and affordable price for air travelling with satisfactory facilities provided. The airline has been aggressive with its pricing strategy and announced a series of discount sale program throughout the year. To build the brand positioning in that manner, Spicejet seldom does price-only promotions. The more you cue in price, the more the tendency to come across as a “cheap airline”.
• Low cost, no frills
• Positioned as a low cost carrier
• price-only
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After being well positioned as LCC in domestic market for more than five years, Spicejet has got approval for flying to international destinations. This will help company to further improve on its aircraft utilization during the night time. Additionally, company would also be saving on fuel cost in international flights as applicable taxes on fuel are higher in domestic markets. Also Spicejet completely overhaul its brand positioning with a focus on the corporate traveller, because Spicejet has destination bases in almost all major cities.
One Instance:
Targeting:
Spicejet mainly focused on one time flyer i.e. those who do not travel regularly
Positioning:
Spicejet positioned them as a low cost Indian airline industry.
Reason:
Spicejet has come up with a concept of Happy hour where you can get one ticket in purchase of another ticket. This offer is applicable on all sectors on Spicejet network during that particular time. But there is a limited inventory of only for two days and which clearly show that they are targeting people who are going to travel in near future and those who have a pre-planned

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