pharmexec.com | Gary Lyon*
NASCAR followers will likely
recognize the famous red oval logo of STP, originally an acronym for
“scientifically treated petroleum”. As a gasoline additive, STP is designed to
prolong engine life and improve performance. Could “STP” also be a proven boost
to healthcare marketing effectiveness? This article briefly explores the role
and impact of three elements — I would argue the most important elements
— of marketing planning that drive business success: Segmentation, Targeting
and Positioning.
Segmentation
Segmentation is the process of
dividing large, diverse markets into smaller, more homogenous sub-groups on the
basis of one or more differentiating criteria. Traditionally, these criteria
have included demographic or psychographic (lifestyle) factors but attitudinal
and behavioural factors are equally important.