#Vocabno101🌋 When it comes to marketing, many people think it’s only about 4P (Price, Place, Product and Promotion). However, these are only part of the elements in implementing(實行) a marketing plan. The essence(精髓) of marketing is to discover customers’ needs so as to satisfy them through marketing plans. “STP” which refers to Segmentation(市場細分), Targeting(目標市場) and Positioning(市場定位) are three stages a company must go through when carrying out a marketing plan. - Segmentation means to categorise the customers by different basis. Let’s say if the market is a cake, segmentation is to cut the cake into various pieces. Normally we will differentiate the customers by their geographic, demographic, psychographic and behavioral features. - Targeting refers to which market segment a company would like to target to, just like which piece of cake they would like to eat. We have three types of strategies in catering the customers’ needs: undifferentiated, differentiated and concentrated. - Positioning implies how a company convey(傳達) the company’s image and product characteristics to their target customers. After all(歸根究底), the ultimate(終極) aim of marketing is profit maximization and thus, the company and the product’s position in the market are very decisive. 🖋Marketing major, City University of Hong Kong #Vocabno #English #19DSE #2019DSE #DSE #17DSE #2017DSE #18DSE #2018DSE #Reading #Writing #Speaking #Wordoftheday #Vocabulary #Expression #Phrase #HKDSE #LiberalStudies #通識 #LS #Dsetips #Linguistics #語言學 #Morphology#101