Once you have assessed your competencies in order for an effective marketing strategy you must be aware of the relationship of the Strategic C’s. Subnash Jain (1999) of the University of Connecticut says the 3 C’s involve:
Let’s look at strength assessment. Jain (1999) states that one of the keys to the Strategic C’s is to identify strengths, in order to differentiate yourselves from the competition. How is your company doing in the area?
To Illustrate Jain’s Concept:
Jain maintains that in order to have a good marketing strategy that strategy needs to have:
- Clean market definition
- Good match of company strengths and market needs
- Superior performance
Permit me to define this further:
- Clear market definition requires you to get as specific as possible on your target market. This will help you make your efforts more effective and better use of your resources.
- Assess your strengths to verify that your strengths match the needs of your specific market. If you can make this happen, you will have a far better chance of developing long-term relationships with your valuable customer-base.
- To evaluate if you are attaining superior performance ask yourself, “Am I able to deliver better than the competition?” Superior performance means more than simply providing a quality product or service, but are you able to back it up with superior customer service? Are you able to over-deliver, that is superior performance.
If you are at a point where you are re-evaluating your vision, mission, direction, target market(s), product and/or service lines of business then evaluating your firm’s competencies and advantages as well as utilizing the Strategic C’s will facilitate your decision-making.
Barsch, P. (2010 November), Win the World Over: Use Comparative Advantage. [1 page] MarketingProfs Daily Fix – BLOG. Available: http://proquest.umi.com
Cook, C. (2004 May), Rules of Engagement; Tips for playing a winning marketing game. [2 pages] Network Journal. Available: http://proquest.umi.com
Jain, S. (1999). Marketing: Planning and Strategy. Cincinnati, OH: South-Western College Publishing.
Mooney, A. (2007 November/December), Core Competence, Distinctive Competence, and Competitive Advantage: What Is the Difference. [7 pages] Journal of Education for Business. Available: http://proquest.umi.com
Reynolds, P. & Lancaster, G. (2007), Predictive strategic marketing management decisions in small firms; A possible Bayesian solution. [13 pages] Management Decision. Available: http://proquest.umi.com
Searle, L. (2002), Has talent, needs customers. [6 pages] Strategy & Leadership. Available: http://proquest.umi.comTweet
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