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Marketing Segmentation (Byte Size Skills Course)

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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

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.

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.

Professional Membership

On completion of this course you will be eligible to join the following Professional Associations(s):

Stonebridge

On successful completion of your course your qualification is awarded. You will receive an attractively presented Diploma or Certificate issued by Stonebridge Associated Colleges, this will also allow you to use the letters SAC. Dip. or SAC. Cert. after your name.

Stonebridge Associated Colleges is one of the leading (and biggest) distance education colleges in the U.K and internationally. We have many thousands of students studying with us at any one time from locations all over the world. Our diplomas will always count towards your future, and will improve your prospects of future employment or higher level study etc. by proving that you have studied to a certain level, that you have proficiency in your chosen subjects and that you are interested in your field of choice. Education is always an investment in your future and you will find this to be the case with our qualifications in your jurisdiction.

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

What's Included

  • All study materials
  • Study Guide
  • Full Tutor and Admin support
  • The course fee includes the awarding body registration and certification fee (valued at up to £30.00).

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

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.

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.

Professional Membership

On completion of this course you will be eligible to join the following Professional Associations(s):

Stonebridge

On successful completion of your course your qualification is awarded. You will receive an attractively presented Diploma or Certificate issued by Stonebridge Associated Colleges, this will also allow you to use the letters SAC. Dip. or SAC. Cert. after your name.

Stonebridge Associated Colleges is one of the leading (and biggest) distance education colleges in the U.K and internationally. We have many thousands of students studying with us at any one time from locations all over the world. Our diplomas will always count towards your future, and will improve your prospects of future employment or higher level study etc. by proving that you have studied to a certain level, that you have proficiency in your chosen subjects and that you are interested in your field of choice. Education is always an investment in your future and you will find this to be the case with our qualifications in your jurisdiction.

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

What's Included

  • All study materials
  • Study Guide
  • Full Tutor and Admin support
  • The course fee includes the awarding body registration and certification fee (valued at up to £30.00).
SALE Up to 40% OFF
Ends midnight Monday 21st January
SALE ends in:
Easy Payment plans
Just £19.99 deposit
Ends midnight Monday 21st January

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