Understanding Markets, Business Models, and Customers
3CO01 – Business, culture and change in context
This CIPD Level 3 video, part of unit 3CO01 – Business, Culture and Change in Context, explores how organisations identify and understand their markets, business models, and customers to meet assessment criteria AC 1.3. The session covers essential concepts including product and service identification, customer needs analysis, market segmentation, and the distinction between features and benefits across various business types such as agency, direct, wholesale, and online models. By watching this resource, learners will gain a comprehensive understanding of how organisations operate within their markets and serve their customers effectively, equipping them with knowledge essential for the CIPD Level 3 qualification.
Assessment Criteria 1.3
Discuss the products and/or services the organisation delivers, including who the main customers are
Indicative Content
Identification of the products and services that the organisation offers; the market within which it operates and the customers it serves; customer needs analysis; difference between features and benefits; types of business/market, for example, agency, direct, wholesale, online; market segmentation
What You'll Learn
Video covering: Understanding Markets, Business Models, and Customers
About 3CO01 – Business, culture and change in context
This unit considers the impact of external influences and how the digital and commercial environment shapes businesses and the culture within which they operate. It considers the importance of people’s behaviour on organisational culture and its ability to manage change effectively.
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