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Situation Analysis is often referred as 3C analysis which further includes customer, competitor and corporation; a business model helps to overcome the hindrances and reach up to the level of customer’s demand and needs. This 3C analysis further extended to 5C analysis by looking at the importance features. 5C analysis segments into Company, Competitors, Customers, Collaborators and Climate.
SITUATION ANALYSIS AND 5C ANALYSIS
Situation Analysis is a collection of methods that are generally used by manager of a company which further makes a manager to analyze the internal and external environment of the company. This collection of methods creates an opportunity to judge the capabilities, customer’s need and the business environment so that appropriate measure can be taken for the organization. Situation Analysis is a bunch of several methods to analyze the situations of business organization and 5C analysis is one of its various methods. 5C analysis helps to understand the internal, micro and macro environment of business organization. This analysis has a capacity to provide information on wide basis. Due to the extensive information that it provides, it helps to disintegrate the market place or the market environment.
Further description of 5Cs OF Marketing
- COMPANY: This category is related with the analysis of company including company’s target, objectives, strategies etc.This helps an organization to analyze the weaknesses and work on those weaknesses along with strengthening the strength related factors. It creates an opportunity for the organization to understand that how perfectly the organization is fitting into external environment – the environment which influences human factors and the environment which is influenced by technology advancement. It helps the owner or management team to look after the position of company in the competitive environment, performance either good or bad, mission analysis and how much efforts need to do to reach up to the targeted position or level.
- COMPETITORS: It the analysis of competitors position within the industry. It focuses on how much competitor company making efforts to reach to customers so that level of difference could be maintained and the company can look after its own efficiencies or get more efficient in the competitive world of market. It helps to identify the competitors, knowing or assessing competitor’s strategies, goals, mission or even targets and even future potentiali.e. how much obstacles they can create in future within the industry.In short, it let the company to compare the name and fame level.
- CUSTOMERS: Competitor analysis is little vast and complicated than all the c – analysis factors. It includes various factors to work such as advertising (even today – modern advertising methods seek famous personalities or public figures to endorse the brand), customer’s income, wants or needs&mediums or ways to communicate with the audiences which should focus not only to reach on maximum number of people but to direct on their mind and heart so that it can create eager within themselves to purchase the product and get satisfied for instance, Maybelline is a well famous cosmetic brand that has reached to the heats of million of women and girls. The brand has got popularized in itself that its cost price doesn’t affect the brand’s name and fame. It is among the top leading brands in the field of cosmetics. The customer analysis also includes the demographic factors too.
- COLLABORATORS: When a company collaborate with different agencies it enhances the techniques of thinking about ideas at enhanced level that could maintain the standard of the company in the market place. Collaborators can in the form of partners within the company’s shares (or business partners), suppliers, distributors, agencies etc. It is up to business organization what and how they decide whether in collaboration or individual basis, all as per their need.
- CLIMATE: This analysis type deals with political, social, cultural, economic environment and even the technological advancements. These factors highly influence a business and its environment. Analysis based on climate factors is also known as PEST analysis where P is for POLITICAL, E is for ECONOMIC, S is for SOCIO-CULTURAL, and Tis for Theses factors explains and defines the external environment related information by which a company can judge its position, potential and capabilities.
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