With the ever changing business dynamics, it has become crucial for businesses to act aggressive to get a fair market share so as to sustain profits. Marketing domain is ruled by 5 C’s that are important for businesses to give due share and attentive in order to sustain the customer base. In today’s competitive markets, the intricacy of processes has gained paramount importance. Also, business relies on one another to have a long standing in the market. This inter-tendency is also known as ‘marketing mix’ that is defined as a combination of elements that leads to strong business foundation when put together. All these facets are important to make a by business a success, while eliminating any of these can cause shortcomings in the entire business process.

To describe in a nutshell, marketing mix is referred as a process of setting right combination of product, price, place &making the same available at the right time; also known as 4 P’s of marketing.

Moving to the core topic, 5C’s analysis, this is renowned as a tool for managers who use the same as a part of Situation Analysis. This tool is used in complementary ground with other effective tools namely Porter Five Force Analysis and SWOT.

5 C’s Marketing Strategies

Listed below are 5C’s marketing strategy that is now adopted and followed by major companies operating in the market:

  • Company: This includes analysis of factors that need to be improved in a product line and market image. Such analysis is often done on a regular basis to remain hands on with changing market dynamic and customer’s response towards the product.
  • Collaborators: This analysis deals with understanding the shared interests that helps is company’s growth. It involves spotting of collaborators such as distributors, suppliers, and alliances to tap un-reaped opportunities.
  • Customers: Under the first ‘C’, a company analyses a range of factors such as market size, its growth trend, customers changing tastes and preference, seasonal demand of products, their frequency of purchase, reason for customer’s choice of a particular brand, benefit vs. cost analysis, tapping of specific market segment. These help to determine needs of customers and assessing capacity of its own to fulfill the same.
  • Competitors: It helps to analyze present and the future of a certain business. This analysis focuses on 3 major aspects namely that include mapping out the competitors, products sold by them, chalking out potential opportunity along with understanding threat that competitors might impose in the near future. It also includes ratio of market share as compared to competitors and identifying focus areato enjoy largest market share.
  • Climate or Context: This component of analysis focuses on discovering right context or climate also known as PEST analysis (Political, Economic, Social and Technological).

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