An Analysis of the Potential Target Market through the Application of the STP Principle/Model

Abstract

Purpose -The purpose of this paper was to establish and identify the target market of a proposed residential development in Findings -The study established that this was the first research of its kind within the housing market. It also revealed that target market identification is critical in market research because it help the developer to minimise the unsystematic and systematic risks which might affect the success of the development project thereby impacting on the profitability of the business. It will also help them appreciate by positioning the product in the minds of the target market through offering the product with features that the customers are looking for. From the developer's point of view, they will be fulfilling the customer's needs by implementing the recommendations and results of the market research report. Once these needs are metand fulfilled, the property listing period is also reduced at the time of marketing the property and customers are identified even before the propduct is developed thus adding value to the business. Originality/value -Based on the key findings, recommendations are made in this paper to improve the market take-up rate through the application of STP analysis.

The Effect of Using Instagram Influencers in Building Conseva’s Brand Awareness

“…Huey & Yazdanifard (2014) stated that in order to be successful in social media marketing, the first crucial step is to decide the target consumers. According Kampamba (2015), determining consumer market can use demographic segmentation by using major variables-age and gender-as these are the most used aspects and can be measured easily. Besides demographic segmentation, geographic segmentation was also applied as Conseva brand is based in Surabaya, and the majority of their customers live in Jakarta.…”