Create a 2 page essay paper that discusses Sports Marketing and Merchandising.
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With its acknowledgment of the differences between male and female market, WPCG also designs special services and sources for female.
Amidst its popularity and prominence in the UK market, WPCG has its own set of marketing challenges and weaknesses. It is however, expected that the use of STP (segmentation, targeting, and positioning) technique will enable it to understand its customers, create a more efficient marketing strategy, and further boost its performance in the industry.
STP is considered as the essence of strategic marketing. This tool enables a business organization to identify the value that it wants to provide, deliver the value, and communicate the value. Segmentation refers to the process of dividing the market based on certain variables like geographic, demographic, psychographic, and behavioral factors. The rationale of market segmentation is the identification of a specific market which a business organization can best serve. This way, it is better positioned to create a product or service which more suitable and appropriate for a specific market as well as complement it with other components of marketing mix such as price, promotion activities, and distribution channels.