Without doubt it would be ideal for a company to offer a personalised product to each of its clients.  As this is virtually impossible, we need to look for ways to offer products that are personalised for different groups or segments of the market. 

Todays markets are more volatile than before and possibly the traditional mass media advertising focus is no longer appropriate.  One option is to target different niches of market where we have the resources to satisfy that niches needs and wants.  This is possible with Market Segmentation.  That is, dividing the market into groups of potential clients with similar needs and profiles which possess similar buying habits.

In this unit, you will learn about market segmentation and its importance to international marketing.  

This will be achieved by :
- Analysing the need for segmentation
- Examining the most common segmentation criteria
- Outlining statistical studies on segmentation
- Detailing some strategies that can be applied to new export markets.

Completing this course will confer 5 CPD Credits towards internationally recognised Continuous Professional Development Requirements within organisations operating this kind of staff development methodology.

Course Outline

1. INTRODUCTION

1.1 Segmentation

1.2 Segmentation Objective

2. CRITERIA

2.1 Segmentation Criteria

2.2 Segmentation. Demographic

2.3 Real GDP Per Capita

2.4 Segment by Population

2.5 Segment by Age

2.6 Socio-Economic Segmentation

2.6.1 Socio-Economic Segmentation - Porche

2.7 Segmentation: Global Scan's Study of BSB

2.8 The DMBB Study on the European and Russian Consumer

2.9 The 4C Study From Y&R

2.10 Segmentation by Behavior

2.11 Segmentation According to Profits

2.12 Stages of Segmentation

3. WORLDWIDE SEGMENTATION STRATEGY

3.1 Size and Growth Potential of the Segment

3.2 Compatibility with the Company's Criteria/Practical Example

3.3 Worldwide Segmentation Strategy

Further Reading

1 – Market Segmentation – A Framework for Determining the Right Target Customers

2 – Market Segmentation Strategy, Competitive Advantage, and Public Policy

3 – Behavioral Segmentation

4 – Customer Segmentation: A Powerful Tool for Business Growth

5 – Market Segmentation

Forum Assignment