Framework for Marketing Management

It works like this:The marketing concept says you begin by looking at your customers, company, and competition – these are the three Cs. Let’s say your company makes pens: Ask yourself what it is that your customers need. How can you satisfy that need? In real life a lot of research would go into answering questions like these. Then consider what your customers do to satisfy those needs. What factors contribute to their decision making process? Again, more research would be done. Also look at your company. Can you make the pens your customers want? Do those types of pens fit with your company’s corporate objectives? For example, if you’re Montblanc, you won’t be making cheap plastic pens anytime soon even if some your customers say that’s what they want in a writing instrument. Don’t forget to analyze your competition as well. How will your competitors respond to your product (say, when you introduce a new version)? Also ask yourself who else satisfies the needs of your customers. For example, should you be looking at companies that make markers and pencils as competition?