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Ans1. Segmentation, Targeting and Positioning also referred as STP is perhaps the most critical marketing framework that lays the foundation of any "go-to" market strategy. By the virtue of proper STP marketeers are able to attract, differentiate, retain as well as grow the customers for their services and products. Essentially, segmentation is the method that helps in segregating the market into various different groups based on characteristics that can make it easier to comprehend the audience. As a marketer, there are various groups of people that needs to be segmented based on their demographics, tastes, perceptions etc. Hence, as a marketer, one can formulate specific strategies that takes to these groups in the language they understand the best. Furthermore, market segmentation is a two-step process that basically revolves around naming of the broad product markets as well as segmenting those markets in order to bring out target markets. Sub-diving the market into subsets such that it is easier to target subsets exclusively and establish rapport that can help the organisation boost their business revenue. Developing a strong strategy for target market is absolutely essential in order to be very successful in the business. The entire framework of segmentation of the market is perhaps referred as pivotal to lay the groundwork of target market strategy. However, majority of the time business-to-business marketers leverage little more than the just categorizing as products groups or sectors. This forms as the basis for collaborating different client with respect to their buying behaviour as well as characteristics. Segmentation of market can be explained as the process of segregating entire market into the various homogenous segments of consumers. Essentially, these are segments which have like needs and desires.
Market Segmentation can be extremely powerful to develop sound marketing strategy for the business. It can be tricky since it is very dynamic process which may involve to categorize the customers based on different aspects like demographics, location, needs vs expectations. Thus, by the virtue of market segmentation each and every customer is coded into a group that helps in devising targeted approach to contact.
Explaining framework of STP with an example of Under Armour
Segmentation - To foster a viable showcasing technique to connect designated market fragments it is important to grasp various sections Under Armor can be fruitful. Basically, Under Armor has deliberately centred around people who are wellness arranged and youthful competitors from school. While breaking down the strategy for division for Under Armor it is fundamental to grasp four principal kinds of this showcasing procedure dependent on geographic, psychographic, segment and social. Hence, while investigating the division for Under Armor what need and want is the item satisfying. The brand fundamentally follows segment division where it completely portions male just as female competitors and target dependent on their age profile and pay. They portion the clients who fall in certain scope of the age bunch like 17 years to 49 years alongside normal pay profile of $700 to $1700 each month (Beverland, M., Napoli, J. also, Farrelly, F., 2010).
Targeting
For the organisation under the spectacles of STP, Under Armour, I have applied Tapestry model to elaborate the specific of target profile which is explained below

Under Armour, Inc. specifically design and sell the high-performance products that are focused on college athletes and professional athletes. Brand targets the male athlete between the age group of 17 years to 49 years. Now, they are also targeting women who health driven and career oriented. Therefore, a complete target file will include a person from 17 to 49 years with aligned message to men as well as women, who is a fitness enthusiast as well as consumer of above average income. The target customer values his or her own comfort and focused on achieving specific targets in their life. Furthermore, the target customer is aligned with determination as a key principle and value innovation which is reflected in the product offering of the Under Armour (Frank, R., Massy, W. and Wind, Y., 1972).
Positioning
Under Armour has positioned itself as an underdog implying that they are committed to put in efforts and working hard to attain success. This reflects strong integrity and never-give up attitude which resonates with majority of people who are in sports or oriented towards fitness. It has positioned in the minds of customers as one of the most credible and authentic brands which is committed to put in efforts and break the sweat to achieve its goals. Appling the perceptual map to understand the positioning of the Under Armour, it is easier to comprehend that the brand is focused more on comfort and less on superficial fashion in the products (Fuchs, C. and Diamantopoulos, A., 2010).
Positing statement - For every woman or man who is aspiring to get fit and aligned towards one's health, follows active lifestyle then Under Armour is integral part of over success. Any and all products of this organisation is focused on offering comfort and mobility to customers and hence comes in various styles and sizes. Especially the apparels of the company are made with specific fabric that can regulate the body temperature. This helps in enhancing the performance of athlete under various whether conditions.
Ans 2(a). Indeed, we are have moved into the age of relevance where more than customer loyalty brand relevance comes into picture. If the brand has loyalty but no relevance, that brand would be unable to survive the test of time in future. We are living in one of the most dynamic times where on one hand we are embracing the raging pandemic as life restores to new normal and on the other hand our dependence on the internet especially social median deepens to the core. Indeed, internet has changed the way we interact with one another as well as the how we order cuisines, purchase items or shop for our loved one, book any medium of communication, enjoy music or even have a medical consultation. There is no denying to the fact that people prefer to connect online leveraging various social media platform to interact with others as well as communicate professionally with the work teams or personally with family and loved ones. As the demographic evolves, social media can help establish better relationships with friends and family. Therefore, one of the best business opportunities in this era is to creating social media presence for your business especially if you are new in the market and aspire to compete with big players.
Ans 2(b) When you think to give wings to the idea and concentrate on relevance, you end objective will be to get customers and develop strong foundation for better tomorrow. We like in most dynamic and competitive era and if you rely on traditional form of communications like print advertisements, or few emails here and there regarding the coupons or perhaps big sign board on the road, who might gauge the eye-balls in a jammed road but conversion or actions. In the golden words of Jack Welch, "The biggest opportunity for companies has come by far in the digitization of processes" a good business strategy is to connect with the customers at get-go, interact with them such that they are able to comprehend the value proposition better and capture the entire customer journey. Digital marketing has become indispensable tool for growing the business and reaching the target audience. Perhaps, in this COVID era, the only business that have marked multi-million dollar in their revenues are the one who have leveraged Digital Marketing to its core. Hence, investing in digital marketing for your business is probably single most important function that will determine the...