5 Cs of Marketing<br /><ul><li>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. </li></li></ul><li>5Cs of Marketing (Contd)<br />The conditions are about the number of competitors and their market share, the cost of producing the product, the profit ratio, etc. <br />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. <br />SWOT analysis means the analysis of Strengths Weaknesses Opportunities and Threats. <br />
The Five Cs are <br />Company<br />Collaborators<br />Customers<br />Competitors<br />Climate or Context<br />
Company<br />Product line<br />Image in the market<br />Technology and experience<br />Culture <br />Goals<br />
Customers<br />Market size and growth<br />Market segments<br />Retail channel- where does the customer actually purchase the product?<br />Consumer information sources – where does the consumer obtain information about the product?<br />Trends- how consumers’ needs and preferences change over time<br />
Competitors<br />Actual or potential<br />Direct or indirect<br />Products<br />Positioning<br />Market shares<br />Strengths and weaknesses<br />
Climate or context<br />Political and regulatory environment -- governmental policies and regulations that affect the market.<br />Economic Environment -- business cycles, inflation rate, interest rates and other issues of economic nature<br />Technological environment – new ways of satisfying needs, the impact of technology on the demand for existing products.<br />