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Before we start discussing about the Five Cs of marketing, lets know about the situation in which these are studied. The need where 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 about certain things like how many products of that particular industry are present in the market, what is their average cost of producing the product, what is their average profit expectancy, what is the gestation gap between investment and the product being released in the market, who are our competitors and what is their individual market share. All these kind of questions arise when a new product is being launched into the market.
So, a quick SWOT analysis will reveal where do we stand in the market and what strategy should be adapted 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
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