1.

Explaining the process of STP & 3P’s of marketing perspective to Jockey

Industry

STP marketing stands for segmentation, targeting, and positioning. It is a three-step

process that allows for the development of a specific and actionable marketing strategy.
The main principle behind the process is to segment your audience, target each segmented
group according to their preferences and habits, and make positioning adjustments in the
branding and marketing strategies to accommodate their needs and expectations. Using
STP marketing in business may seem complicated, but the process can be broken down
into actionable steps.

First, there is a need to define the market to reach and create market segments based on
segmentation variables and bases such as age, location, interests, or almost anything else.
Then, evaluate each segment for viability, looking at how realistic it is to target them, and
choose the segments that show the most promise. After performing thorough FTP analysis
and selecting the most promising segments, developing a targeting strategy for that market
and identify the most promising positioning opportunities for engaging that market.

● Market Segmentation - The process of segmentation is all about identifying

distinctive and common traits between people in market, which allows to develop much
more relevant and engaging marketing campaigns.

If one can use audience insights to identify a specific desire or need in a group of people in
your market, will be able to focus the message and deliver it in a way that has a much
stronger impact than broader marketing campaigns. Some of the most common
segmentation variables include:

• Demographics: age, gender, marital status, ethnicity, etc.

• Geography: city, region, country, climate, etc.

• Psychographics: personality traits, habits, attitudes, etc.

• Values: politics, religion, cultural beliefs, identifications, etc.

• Life Stages: work status, education status, retirement, etc.

• Behaviours: purchases, interests, clicks, browsing data, etc.

● Market Targeting: The next step is to look at the segments to identify the best
opportunities for your business. First, there is a need to look at the size of the segment,
which will tell whether it’s worth pursuing. The next step is to look at whether there are
significant markers that set the segments apart; these can become the basis of an STP
marketing campaign. Finally, one must look at whether the market segment is accessible
to the company, and if one will be able to get the marketing messages in front of them.

 Market Positioning - Finally, consider positioning opportunities that will help to

respond to an unmet need or desire in the market that the product can fulfill. Using
customer segmentation models, one can completely revamp product positioning
and center the campaign on the most pressing problem that audience is facing.
With a segmented and specifically targeted audience, product positioning can have
a much stronger impact, helping the message stand out in a crowded marketplace.

Price in the Marketing Mix Of Jockey: Consumers have stopped buying functional
products to a great extent. They are being diverted towards, luxury, comfort, style and
beauty. Jockey has revolutionised the concept of innerwear with its quality products. It has
been able to create a market of its own. Jockey has adopted mid premium pricing strategy
for its premium product to keep its price rates affordable and reasonable. People are no
longer unwilling to shed a few bucks more if they feel that the product is worthy and this
is why the company has been successful in implementing its pricing policy.

Promotions in the Marketing Mix Of Jockey : Jockey is a world-famous brand that is

involved in several charitable organisations. It sponsors a charity titled Jockey Being
Family Foundation. Jockey has launched several ad campaigns to market its products. It
has tried to project its products more of leisurewear nature than simply innerwear. The
brand has put the special onus on comfort level and its style quotient in its advertisements.

Product in the Marketing Mix Of Jockey : Jockey is a retailer, distributor and

manufacturer of sleepwear and underwear for children, women, and men. Jockey has a
strong distribution network that has made it possible for reaching of products to most
places in the world. Its products are available in jockey outlets and in various retail outlets,
supermarket and hypermarket that keep Jockey as one of its brands.
2. Given the issues faced by distributors, what recommendations would you make to
them and to Page Industries for conflict resolution?

Ways to avoid Channel Conflicts:

Offer exclusive products- By providing a unique product, only available on the

brand website, creating buzz, building demand and showing off the brand! One can
also offer product Giveaways, adding value by including an additional product—
for example, gift card & offering bundles & Kits. Growing sales by helping
customers get more out of your products. Bundling products allows to discount
without the appearance of a discount. With variation in offering as much as
possible or even offer different SKUs for different retailers, makes it more difficult
for retailers to match exact pricing for products to protect margins.

 Do not allow too many resellers in a distributed area - Setting proper territories &
switching to a selective distribution model (for at least some products) to cut off
supply to unauthorized sellers that are not within the brands' selection of
distributors and resellers. Spot unauthorized sellers on marketplaces: Use e
Commerce monitoring software to identify third-party (3P) sellers and try to trace
back where they are getting supply. One may need to thin out its reseller network
& can contact any non-compliant or unauthorized seller and request corrective
action—in some cases, even turning unauthorized sellers into authorized ones.

 MSRP policy & Monitoring - Maintaining a standard price for products across all
sales channels to find a way around any price competition between wholesalers,
retailers, and manufacturers. MAP pricing addresses how a reseller advertises a
product, MSRP represents the price a manufacturer recommends its retailers to sell
the product. A Minimum Advertised Price (MAP) Policy is an agreement (In the
countries where they can be used) between a brand or manufacturer with authorized
vendors. MAP monitoring is the routine process of reviewing the prices of online
retailers and marketplaces to identify MAP compliance. The agreement is to price
SKUs at or above a specified minimum price. The agreement is not legally binding.
Retailers can still sell a product at a below-MAP price, just not advertise it.