Segmentation, Targeting, and Positioning (STP) research in the MedTech industry is a strategic process that involves dividing the market into distinct segments based on shared characteristics or needs, selecting the most attractive segments as target audiences, and crafting a unique positioning strategy to effectively reach and serve those segments. This approach helps MedTech companies tailor their products, marketing messages, and sales efforts to meet the specific needs of different customer groups, thereby maximizing market penetration and competitiveness.
STP research is essential in the MedTech sector for several reasons:
STP research is conducted at various stages of a company’s lifecycle:
STP research involves a structured approach:
In summary, Segmentation, Targeting, and Positioning (STP) research is a strategic imperative in the MedTech industry. It enables companies to identify and prioritize customer segments, tailor their products and marketing efforts, and gain a competitive edge by effectively meeting the diverse needs of healthcare professionals and patients.