Marketing Mix For Successful Branding And Launch Of The Product

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Kotler has stated that “Today’s main issue which is facing the business is not shortage of resources but shortage of customers – Marketing is one of the effective tool to compete on bases other than just competing on prices”. (Kotler, 2012). Any organisations which are looking to effective register and enhance brand values strive to use STP. STP is considered as an important process in the application of marketing, the letters STP stand for – Segmentation, Target market and Positioning. STP is very vital for markets as it enables to demonstrate the relationship between overall market and how any organisation choose to compete against their competitors in the market. STP is also referred as a process, in which segmentation is
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David Tarantino has stated that, marketers who want to create a successful brand must define the following three components very clearly:

• “Segmentation or who can I sell my services to?”
• “Targeting or Who I am going to sell my services to?”
• “Positioning or How I am going to sell my services?”

Organisation realises that if they are not able to understand the overall details of their customers, it results in the loss of sales and customers. Currently, we are in the era of customer – oriented market, manufacturers and organisations are looking to identify ways to create products which will enable them to compete against their competitors. Market segmentation is very vital for the business and marketers, as it enables them to classify the customers based on behavioural, psychographic and profile etc.

The CEO of Coca Cola Kent, has stated that the segmentation of all the product is based on the geographies. Coca Cola classified its market as Asia Pacific, Americas, Europe, and Africa etc. This will enable them to address the specific needs and requirements of the customers. The company provides lot of autonomy to its units in each geographic locations so that they can run their operations with greater control. The place of consumption is also vital, for a soft drinks, most of the consumption happens at the sellers place, like restaurants, theatres, railway stations etc. However, for a consumer durable goods, the product is taken to
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