In [[marketing]], '''segmenting, targeting and positioning''' ('''STP''') is a threebroad phaseframework approach<ref>{{Citethat web|url=https://www.marconconsulting.co.uk/what-is-marketing/|title=Whatsummarizes is marketing? Why is it crucial for a brand?|last=Langmaid|first=Marcus|date=2019-02-02|website=Marcon Consulting|language=en-GB|access-date=2019-02-03}}</ref> thatand simplifies the process of [[market segmentation]].<ref>Moutinho, L., "Segmentation, Targeting, Positioning and Strategic Marketing," Chapter 5 in Strategic Management in Tourism, Moutinho, L. (ed), CAB International, 2000, pp. 121–166</ref> Market segmentation is a process, in which groups of buyers within a market are divided and profiled according to a range of variables, which determine the market characteristics and tendencies.<ref name=":0">{{Cite book|title = Market segmentation in hospitality research: no longer a sequential process|last = Bowen|first = John|publisher =|year = 1998|isbn =|___location =|pages =}}</ref> The processes of segmentation, targeting and positioning are parts of a chronological order for market segmentation. [https://www.marconconsulting.co.uk/what-is-marketing/ Market segmentation] is imperative for academics and marketers where they can identify key [[Stakeholder (corporate)|stakeholders]] that share similar characteristics which can have a significant implication for the success of a marketing strategy<ref>{{Cite web|url=https://www.marconconsulting.co.uk/what-is-marketing/|title=What is marketing? Why is it crucial for a brand?|last=Langmaid|first=Marcus|date=2019-02-02|website=Marcon Consulting|language=en-GB|access-date=2019-02-03}}</ref>.
* Segmentation comprises identifying the market to be segmented; identification, selection, and application of bases to be used in that segmentation; and development of profiles.
* Targeting is the process of identifying the most attractive segments from the segmentation stage, usually the ones most profitable for the business.<ref name=":0" />
