BUSINESS REPORT

Business Report - Inter Training Ltd



Business Report - Inter Training Ltd

Introduction

This business report will seek to shed light on the marketing and business needs of Inter Training Ltd. In this regard, report will be carried out to explore the process of segmentation in international markets. The discussion will come to a conclusion by giving a business plan for Inter Training Ltd. In the development of the discussion, the research process will present a definition of the process involved in segmentation of global markets and identification of the sources and methods of marketing information collection. In addition, research into the target markets and will be followed by recommendations for pricing, distribution and communication of their program. To compete successfully in the challenging and fast changing global markets of the 21st century, Inter Training Ltd, a private education and training provider based in London. The company provide a range of BTEC type training at Level 3, 4, 5 and 7 in Business, Management and IT (similar to your own college, CCL) should use segmentation techniques and strategies to find their competitive advantage. The selection of the relevant market includes many options.

Market Segmentation

“New Criteria for Market segmentation” that the best way to segment markets is not only by demography. The more crucial to marketing objectives are differences in buyer attitudes, motivations, and values, patterns of usage, aesthetic preferences and degree of susceptibility. The method of segmenting the market through the demographic aspects that are age, sex, geography and income level, are not likely to provide much direction for marketing strategy as management requires. While in other journals, which targets the subject of market segmentation methodology, the key concept achieved belongs to the nature of the product. The methodology for market segmentation cannot be the best one, but the necessity is to choose the appropriate methodology for market segmentation (Ahluwalia and Canli, 2000, 380).

Process for Determining Market Segments

Marketing for a single product to everyone, is rarely a viable strategy, like to customize products to every individual. Segmentation should be planned before the launch of any product or before the project begins. Target market based on the distinctive characteristics that allow separate addressable market segments. Segmentation based on (Agrawal, 2000, 92):

Demography said to be the way through which many companies has achieved success. In demography, the segments are being made on the basis of age, sex, social status, values, customs etc.

Geographical characteristics: based on location factors such as country, state, city, mobile workers, as well as lifestyle (e.g., rural Vs Urban).

Psychographic characteristics: personality traits, such as attitudes, beliefs, life experiences, needs and desires.

Consumer characteristics: factors relating to the client, such as loyalty, frequency of shopping and willingness to buy online.

Effects of Internal and External forces on Market Segments

Increasing market competition, globalization, technological advancement, evolution of the educational and training system which modifies the customer's level of mind and changes in priorities, are part of internal and external changing conditions which are shaping ...