1. Introduction
2. Sample Case
3. Practice Case

1. Introduction

Understanding the Segmentation, Targeting and Positioning (STP) approach to your marketing plan is a critical step for developing successful reaching the right buyers with the right products and ultimately, continuing to have a successful business. To help make the overall marketing process more manageable, its useful to divide large target markets into smaller segmented groups. These segmented groups allow the marketing efforts to have a more unique appeal when positioning specific products toward these segmented targets.

Why This Matters: The STP process helps you to identify your most suited customers for your marketing efforts and then focus on or develop products that are customized for that segment. As a result, your products and customers are uniquely matched and your marketing campaign is even more personalized to your customers wants and interests, ultimately creating a more successful campaign and selling more products or services.

Your Task: In addition to your assigned reading, review the following sample case. After reviewing the sample case, read the practice case and answer the three questions following the scenario.

2. Sample STP

Healthy MED Student

Healthy MED Student is dedicated to integrating the highest standard of conventional wellness and integrative/holistic approaches that nurture the bodys intrinsic healing capacities in the body, mind and spirit. The concept was born out of a career medical doctors longing to experience the health and wellness she desired to learn about and practice during her own medical school experience and career.

By furthering evidence-based research and education in Integrative Health and Medicine, Healthy MED Student will serve as a model for the new paradigm of creating healthier and happier medical students and reducing the impact of the disturbing and damaging challenges incurred during medical school.

Healthy MED Student provides a variety of programs and services to global medical students. These programs include health, well-being programs, integrative medicine initiatives, as well as personal programs that offer unique initiatives to empower medical students to pursue a thriving academic and wellness experience.

The programs consist of online modules delivered via email subscription allowing students the benefit of global, real-time access to materials. During the initial Marketing Research phase by the company, Healthy MED Student discovered a variety of potential segments that could be targeted by developing a customized program.

Mission:

Healthy MED Student is a collaborative health and well-being program designed to address the unique challenges medical students face.

STP:

1. List three to five potential segmented markets (psychographics, behavioral, geographic, demographics, etc.)

• First- or second-year med student
• First-generation college student
• Future specialists, i.e., surgeons, oncologists, etc.
• Med students with previous healthcare experience, i.e., nurse, lab tech, etc.
• Related fields, i.e., chiropractors, physician assistants, nurse practitioners, integrative, etc.

2. Choose a target group from the segmented markets that you feel would make a good choice for a marketing campaign and list why.

Target: Related Fields

Why: This group is already aligned with the principles of Healthy MED Student

3. Choose one or two products that would make sense to position for your chosen segmented target group and list why.

Product: Personal and Integrative Wellness Program (Specifically designed for students and practitioners with an interest developing/furthering an integrative practice)

Why: This product will be designed specifically for this target to further address the desires to design a more integrated practice for self and patients.

3. Practice Case STP

Now its your turn. Read the following case on IALCST. Then, using the sample STP strategy for Healthy MED Student to help you, develop a STP strategy for IALSCT. Share three to five potential segment groups, one target market group and one product to position. Explain why you are choosing the target and the product position.

IALCST

The International Association of Light, Color, Sound Therapy (IALCST) is an innovative collaboration of practitioners, health professionals, researchers, educators, artists, and enthusiasts with a passion about learning and applying the latest theories, techniques and technologies regarding how these modalities can promote health, enhance learning and raise quality of living.

For the first time, this European-based organization is considering holding a conference in the United States. While the organization has a large group of committed attendees to their annual conference from a wide variety of healing modalities including practitioners, designers, educators, scientists and general enthusiasts, bringing the conference to the United States is a concern for the organization.

The types of healing modalities are not as commonly practiced in the United States as in Europe, so the IALCST feels this is a critical opportunity to expand their awareness and scope of modalities within the variety of practitioners, enthusiasts, designers, etc. as well as encourage more interaction globally. As a result, the Association is seeking similar individuals, groups and organizations to partner with through their U.S. conference. This will potentially add to their membership and attendance at the conference as well as inform the conference organizers on additional sessions that would complement the current lineup of speakers.

Mission:

Our mission is to educate, initiate, research and promote quality living through connecting broad-minded and integrative individuals.

Practice STP:

IALCST needs to focus in their conference preparations and advertisement campaign to ensure a successful conference attendance in the United States. Based on the description above, please share three to five potential segment groups, one target market group and one product to position.