Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. ...
This ebook explains how to start online business easily and successfully with minimum cost and risk. I also provides knowledge about various aspects of internet marketing.
5 Cs of Marketing
The study the 5 Cs of marketing arises is called Situation Analysis.
Situation Analysis is study of current market or industry in which a company wants to launch a new product.
In order to launch a new product, a company first needs to study the market conditions.
5Cs of Marketing (Contd) The conditions are about the number of competitors and their market share, the cost of producing the product, the profit ratio, etc. So, a quick SWOT analysis will reveal where does the company stand in the market and what strategy it should adopt in order to grab a Lion’s share in the market. SWOT analysis means the analysis of Strengths Weaknesses Opportunities and Threats.
The Five Cs are Company Collaborators Customers Competitors Climate or Context
Company Product line Image in the market Technology and experience Culture Goals
Collaborators Distributors Suppliers Alliances
Customers Market size and growth Market segments Retail channel- where does the customer actually purchase the product? Consumer information sources – where does the consumer obtain information about the product? Trends- how consumers’ needs and preferences change over time
Competitors Actual or potential Direct or indirect Products Positioning Market shares Strengths and weaknesses
Climate or context Political and regulatory environment -- governmental policies and regulations that affect the market. Economic Environment -- business cycles, inflation rate, interest rates and other issues of economic nature Technological environment – new ways of satisfying needs, the impact of technology on the demand for existing products.