Marketing Segmentation (Byte Size)

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Marketing Segmentation (Byte Size)

Elearn UK
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Description

It was Henry Ford who was described as both the world's best and the world's worst marketer. The design development and launch of the black Ford Model T was classic marketing. Henry Ford identified a need for an automobile that, whilst a luxury, should be affordable. The development of mass-production techniques to produce the car was a planned strategy to enable the Model T to be marketed at an affordable price for the mass market. Ford became the dominant car producer in a matter of years, in an apparently unassailable market position.

Whilst Henry Ford's entrepreneurial vision should be applauded, his subsequent product strategy misfired! Consumers could own a Ford T as long as they wante…

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It was Henry Ford who was described as both the world's best and the world's worst marketer. The design development and launch of the black Ford Model T was classic marketing. Henry Ford identified a need for an automobile that, whilst a luxury, should be affordable. The development of mass-production techniques to produce the car was a planned strategy to enable the Model T to be marketed at an affordable price for the mass market. Ford became the dominant car producer in a matter of years, in an apparently unassailable market position.

Whilst Henry Ford's entrepreneurial vision should be applauded, his subsequent product strategy misfired! Consumers could own a Ford T as long as they wanted it in black in the only available model. Whilst undoubtedly a quality car, the Model T did not meet all the needs of the market. Chevrolet recognised this opportunity and developed a product range that offered the consumer choice and the opportunity to upgrade the model. The identification of unmet market needs enabled Chevrolet to penetrate into and subsequently dominate the American automobile market. Chevrolet succeeded where Ford failed by analysing and segmenting its market and developing products that more closely met individual consumer needs.

The case history of the Model T offers us the opportunity to understand the importance of meeting consumer needs. More importantly, it introduces you to some of the marketing terminology that will be introduced in this course.

After participating in this course, you should be able to:

  • identify the benefits to the marketer of segmenting the market
  • identify the consumer demand category represented by a specific market
  • select the most appropriate method of market segmentation in a specific case
  • analyse the market segmentation strategy adopted by a specific organisation
  • draft a market segmentation plan for a specific product
  • identify market segments in an industrial context
  • assess the attractiveness to the marketer of a specific market segment
  • identify the targeting strategy being used by a specific marketer
  • identify ways in which products have been
  • differentiated and positioned in the minds of target customers

Syllabus

Introduction


Objectives

Section 1: Identifying Customer Needs


Why is market segmentation necessary?


The process of market segmentation


Section 2: Consumer Market Segmentation


Demographics


Socio-economic grade


Psychographics


Benefits sought


Geodemographics

Section 3: Industrial Market Segmentation


The differences between consumer and industrial markets


Segmentation criteria


Models of industrial market segmentation

Section 4: Targeting


Evaluating segments


Selecting target markets


Relationship between market segment and company objectives

Section 5: Product Positioning


What is positioning?


Determining a product's position

Summary

Tutor-marked Question Paper

Sample Course Materials

Please click on the logo below to view a few sample pages of the course materials we provide. Whilst this is only a few sample pages, we do hope that it will give you some idea of the quality of the materials we provide. If you have anymore queries in relation to the course materials, please feel free to contact one of our friendly course advisors who will be more than happy to deal with any queries that you may have.

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Qualifications

On completion of your course, you will receive the dual award:

Award 1 is issued by Stonebridge Associated Colleges: Marketing Segmentation (Byte Size) Certificate

Marketing Segmentation (Byte Size) Certificate issued by Stonebridge Associated Colleges, to view a sample of the college’s award, please click here.

Award 2 is issued by our Awarding Body: Level 1 Marketing Segmentation (Byte Size) Award

At the end of this course successful learners will also receive a Level 1 NCFE Award Certificate of Achievement. Our course has been accredited under our NCFE IIQ Licence and the course measurable learning outcomes have been benchmarked at Level 1 (using Ofqual’s Qualification and Credit Framework (QCF) level descriptors) to allow you to consider the depth of study, difficulty, and level of achievement involved.

This award has been designed by Stonebridge Associated Colleges to meet specific learners' or employers' requirements. Accreditation by NCFE is a guarantee of quality. It means that this learning programme has been scrutinised and approved by an independent panel of experienced educational professionals and is quality audited biannually by NCFE.

To view a sample of the NCFE Certificate of Achievement, please click here.

To view a sample of the NCFE Candidate Unit Summary, please click here.

What is NCFE

NCFE is the UK's longest established awarding body, recognised as a highly professional and responsive organisation, committed to maintaining excellent customer service and a friendly approach.

NCFE is recognised as an awarding body by the qualification regulators ('regulators') for England, Wales and Northern Ireland. The regulators are the Office of the Qualifications and Examinations Regulator (Ofqual) in England, the Department for Children, Education, Lifelong Learning and Skills (DCELLS) in Wales and the Council for Curriculum, Examinations and Assessment (CCEA) in Northern Ireland.

Accreditation by NCFE is a guarantee of quality. It means that the college has been inspected and approved by an independent and experienced education professional and is quality audited biannually by NCFE. The centre delivering the programmes has been licensed by NCFE on the basis of its own quality systems. At the end of an accredited course, successful learners will also receive an NCFE Award certificate of achievement.

For more information on this award, click here

Requirements for Entry

There is no experience or previous qualifications required for enrolment on this course. It is available to all students, of all academic backgrounds.

Study Options

In order to offer our students the most convenient and flexible distance learning courses, Stonebridge Associated College offers you the option to study for your course via two methods:

  • 1. Via the traditional paper-based method.
  • 2. Through the online method via ElearnUK.

If you do not have Internet access, or would prefer to study this course via the traditional paper/postal based study method, you can find more information on the course by clicking on the link below.

Stonebridge Prices

Studying by Post. If you would like to pay by instalments, we do offer an affordable interest free payment plan scheme which allows you to spread the cost of your course over a number of months. However, to use this option you will need to study for your course using the traditional paper-based method. For more information on our payment plans please visit our website at www.stonebridge.uk.com

The reason why the course fee is less if you choose to study online, is because with online study there are no costs associated with postage and printing etc. and thus we are able to offer the course at a reduced rate.

The total amount payable over the term's period, is no more than the total cash price of the course.
(APR = 0%). Written quotations are available on request.

Study Hours

This is only an approximate figure and is dependant upon how much time you can dedicate to your studies and how well you grasp the learning concepts in the course material. Furthermore, at the end of each lesson there is a question paper that needs to be completed and returned to your tutor. You should allow at least 1 - 2 hours of study to complete each question paper.

The approximate amount of time required to complete the course is: 20 hrs.

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    There are no frequently asked questions yet. If you have any more questions or need help, contact our customer service.