5 C’s of Marketing

Published by MBA Skool Team, Last Updated: May 17, 2020

What is 5 C’s of Marketing?

5Cs of Marketing are used to analyze the five key areas that are involved in marketing decisions for a company and includes : Company, Customers, Competitors, Collaborators, and Climate. The 5 C’s are a good guideline to make the right decisions, and construct a well-defined marketing plan and strategy. It is marketing methodology to analyse various aspects of the environment in which the company works in.


Customer

Determine what are the needs of customers and from which clients that you’re trying to satisfy. A few areas of research can be market segments, frequency of purchases, quantity of purchases, retail channel, and customer needs depending on trends over time.


Company

Determine if your company is in a position to meet those customer needs. For example, whether your company has the right product line and technical expertise. A good tool to find out your company’s strengths and weaknesses is “SWOT” analysis.

• Strengths: innovative products, expertise and procedures

• Weaknesses: lack of knowledgeable technical support or average product quality

• Opportunities: a new international market or a market led by a weak competitor

• Threats: a new competitor or price war

The above image shows the 5Cs of marketing.


Competition

Determine who competes with your company in meeting the customer’s needs. Is the competitor an active competitor or is it a potential threat? What are their products exactly? What are their strengths and weaknesses?


Collaborators

Determine if there is any outside source or third party help that can help the company such as distributors, suppliers etc.


Context

Determine if there are any limitations due to

• Political issues: legal problems, trade regulations, taxes or labor laws

• Economic issues: growth rate, labor costs, and business cycle stage

• Social impacts: demographics, education, and culture

• Technological developments: impact on cost structures

This is also known as “PEST” analysis.

This article has been researched & authored by the Business Concepts Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.

Browse the definition and meaning of more similar terms. The Management Dictionary covers over 2000 business concepts from 6 categories.

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