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
Section 1: Identifying Customer Needs
Why is market segmentation necessary?
The process of market segmentation
Section 2: Consumer Market Segmentation
Section 3: Industrial Market Segmentation
The differences between consumer and industrial markets
Models of industrial market segmentation
Section 4: Targeting
Selecting target markets
Relationship between market segment and company objectives
Section 5: Product Positioning
What is positioning?
Determining a product's position
Tutor-marked Question Paper
On completion of your course, you will receive two certificates:
Certificate 1 is issued by Stonebridge Associated Colleges: Marketing Segmentation (Byte Size Skills Course) Certificate
Marketing Segmentation (Byte Size Skills Course) Certificate issued by Stonebridge Associated Colleges, to view a sample of the college’s award, please click here.
Certificate 2 is issued by ABC Awards: Level 1 Marketing Segmentation (Byte Size Skills Course) Certificate of Achievement
At the end of this course successful learners will receive a Certificate of Achievement by ABC Awards and a Learner Unit Summary (which lists the details of all the units you have completed as part of your course).
The course has been endorsed under the ABC Awards’ Quality Licence Scheme. This means that Stonebridge Associated Colleges have undergone an external quality check to ensure that the organisation and the courses it offers, meet certain quality criteria. The completion of this course alone does not lead to an Ofqual regulated qualification but may be used as evidence of knowledge and skills towards regulated qualifications in the future. The unit summary can be used as evidence towards Recognition of Prior Learning if you wish to progress your studies in this sector. To this end the learning outcomes of the course have been benchmarked at Level 1 against level descriptors published by Ofqual, to indicate the depth of study and level of difficulty involved in successful completion by the learner.
The course itself has been designed by Stonebridge Associated Colleges to meet specific learners’ or employers’ requirements. ABC Awards’ endorsement involves a robust and rigorous quality audit by external inspectors to ensure quality is consistently met. A regular review of courses is carried out as part of the endorsement process.
Who are ABC
ABC Awards is a leading national Awarding Organisation, regulated by Ofqual, and the Welsh Government. They have a comprehensive portfolio of over 650 Ofqual regulated qualifications on the national Qualifications and Credit framework (QCF). It has a long-established reputation for developing and awarding high quality vocational qualifications across a wide range of industries. As a registered charity, ABC Awards combines 180 years of examination and assessment expertise but also implements a responsive, flexible and innovative approach to the needs of our customers.
Renowned for excellent customer service, and quality standards, ABC Awards also offers over 600 Ofqual regulated qualifications for all ages and abilities post-14; all are developed with the support of relevant stakeholders to ensure that they meet the needs and standards of employers across the UK.
With this course you will have unlimited access to your own personal tutor who specialises in their field of study. It is your personal tutor's role to ensure that you receive constructive feedback and to deal with any queries you may have. You are more than welcome to telephone, fax or email your personal tutor.
You will also have access to a dedicated and friendly team of administrators and course advisors who offer sound and professional guidance and advice when you need it. This ensures that you will never feel neglected and that you will always succeed!
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.
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.
After each lesson there will be a question paper, which needs to be completed and submitted to your personal tutor for marking. This method of continual assessment ensures that your personal tutor can consistently monitor your progress and provide you with assistance throughout the duration of the course.
* All study materials
* Study Guide
* Full Tutor and Admin support