The five Cs of marketing gives an interesting perspective to view a business and its performance. If a company is in control of its 5 Cs, it can predict its future and adapt itself for more success. The 5 Cs cover important concepts of marketing and combine them into a framework to help brands succeed. These five Cs are:
Company
This involves an analysis of the company’s product line, its culture, goals and objectives, and image in the market. We also look at the company’s technology and experience. The main aim here is to determine whether the company is in the best position to meet customer needs.
Collaborators
Collaborators are businesses or entities that can help the company achieve its goals and objectives. Suppliers and distributors, for example, are collaborators.
Customers
It is important to identify your customers and determine which of their needs you are attempting to satisfy. What benefits is the customer seeking? To compete successfully in the marketplace, you need to know what the motivation behind your customers’ purchases is. Possible areas of research are market size, market growth, market segments, purchasing frequency, and seasonal factors.
Competitors
Above all, you need to know who you are competing against in meeting your customers’ needs. Is the other company a potential threat or an active competitor? How many of them are there? What are your rivals’ weaknesses and strengths? Is there anything you can do regarding those weaknesses and strengths?
Climate
When looking at climate, we are assessing macro-environmental factors, i.e., external factors. The economic environment, political environment, and regulatory environment, for example, are part of the climate. Society’s fashions and trends and the social/cultural environment is also part of the climate. Examining the climate also includes analyzing the technological environment. What is the impact of technology on, for example, demand.
The five Cs of marketing gives an interesting perspective to view a business and its performance. If a company is in control of its 5 Cs, it can predict its future and adapt itself for more success. The 5 Cs cover important concepts of marketing and combine them into a framework to help brands succeed. These five Cs are:
Company
This involves an analysis of the company’s product line, its culture, goals and objectives, and image in the market. We also look at the company’s technology and experience. The main aim here is to determine whether the company is in the best position to meet customer needs.
Collaborators
Collaborators are businesses or entities that can help the company achieve its goals and objectives. Suppliers and distributors, for example, are collaborators.
Customers
It is important to identify your customers and determine which of their needs you are attempting to satisfy. What benefits is the customer seeking? To compete successfully in the marketplace, you need to know what the motivation behind your customers’ purchases is. Possible areas of research are market size, market growth, market segments, purchasing frequency, and seasonal factors.
Competitors
Above all, you need to know who you are competing against in meeting your customers’ needs. Is the other company a potential threat or an active competitor? How many of them are there? What are your rivals’ weaknesses and strengths? Is there anything you can do regarding those weaknesses and strengths?
Climate
When looking at climate, we are assessing macro-environmental factors, i.e., external factors. The economic environment, political environment, and regulatory environment, for example, are part of the climate. Society’s fashions and trends and the social/cultural environment is also part of the climate. Examining the climate also includes analyzing the technological environment. What is the impact of technology on, for example, demand.