5Cs of marketing refers to the analysis of the five areas of marketing and these are Customers, Company, Collaborators, Competitors, and Context 5Cs of marketing are the guidelines that help in the right decision-making for a constructive and defined marketing strategy 5 C’s of Marketing – Customers Customers are the most important part of a business as they are the ones that purchase products and encourages the growth and development of an entity. The Customers analysis should be focused on 1. Understanding customer needs 2. Regular interactions with the target audience 3. Identifying potential target markets 4. The tangible and intangible benefits the customer is seeking Example – Starbucks 5 C’s of Marketing – Company The Company refers to the organization that is managing the product offerings. A company needs to look inwards at 1. Product offerings 2. Product positioning 3. Marketing mix 4. Key influencers 5. Culture 6. Goals 7. Objectives 8. Technology and experience EXAMPLE - Facebook 5 C’s of Marketing – Collaborators Collaborators refer to the entities that can help a company in achieving organizational goals and objectives. It includes 1. Other businesses 2. Distributors 3. Suppliers 4. Dealers 5. Manufacturers 6. Retailers 7. Research and Development agency 8. External salesforce 9. Advertising agencies 10. Market research companies Example 1. McDonald's 2. Apple 5 C’s of Marketing – Competitors Competitors refer to rival brands with similar products that can attract your customer base. Example – Competition 1. McDonald - Burger king 2. Pizza Hut – Dominos 3. Canon – Sony 4. Starbucks – Monster Energy 5. Walmart – Flipkart 5 C’s of Marketing – Context/Climate Context or Climate analysis offers a better understanding of the surrounding ecosystem. The two situational analysis that can be a help are 1. SWOT 2. PEST Context relates to 1. Inflation 2. Money 3. Interest rates 4. Economic growth 5. Supply 6. Balance of power 7. Information accessing ability 8. Changes in market structure Example – IKEA This video is on 5C's of Marketing and it has the following sub-topics. Time Stamps 0:00 Introduction 00:21 5 C’s of Marketing – Customers 00:47 Example – Starbucks 01:35 5 C’s of Marketing – Company 01:45 EXAMPLE - Facebook 02:05 5 C’s of Marketing – Collaborators 02:34 Example – McDonald's 03:06 Example – Apple 03:42 5 C’s of Marketing – Competitors 03:54 Example – Competition 04:18 5 C’s of Marketing – Context 05:02 Example – IKEA