How to use the 5Cs situation Analysis on your Brand
August 10, 2011 § Leave a comment
In marketing there are only a few straight answers when planning the life cycle of a brand. It always depends on the manager’s perspective and the market circumstances whether a business will move forward or stay put on a given decision upon her risk assessment.
The 5Cs (consumer, company, collaborators, competition and climate) situation analysis is just another tool that helps you assess each opportunity in front of you. The output of the analysis depends on your perspective and the decision will always be yours.
The model consists in evaluating the key areas that will affect the performance of your product/brand in the market place.
My recommendation is that you turn to this analysis whenever you’re planning to introduce a new product or change radically the value proposition of a current one.
For my personal use, I created a little model that gives me a first impression of the opportunity (or risk) that I will face and provides me of a lot of insight towards generating the right questions that I should be asking before I make my mind on a given project. This model is a very easy to use Excel Sheet that is formulated to throw 4 results in a traffic-lights resemblance to help visualize the project.
In my model, you just have to select the perceived value (according to the scale) of each characteristic in the correct spaces and the formula will do the job.
REMEMBER: This is not an exact science, it always depends on your perception.
I recently moved this blog to http://tavovalencia.com if you want to read more interesting articles, don´t forget to visit my new and improved website.
- NPD Strategies: Competitive environment (tavovalencia.wordpress.com)
- Situation Analysis (netmba.com)
- Situation Analysis for Marketing Plans (ezinearticles.com)
- 5Cs (My MS Excel model for a quick assessment).
- Marketing Analysis Toolkit: Situation Analysis (hbr.org)
Tagged: 5 c's, Brand, Business, c's, Climate, Collaborator, Company, Competition, Consumers, Customers, Management, Marketing, Marketing and Advertising, Models, Project Management, Risk Analysis, Risk assessment, Situation analysis, Social media, Strategic Marketing, Strategy