The Three Cs Structure in Order to Define the Role of Marketing Strategy
In this essay, the venture project “Yumm” company will be taken as an example to discuss through the three Cs structure in order to define the role of marketing …show more content…
Finally, as mentioned above, the threat will mainly come from existing competitors if the similar concept is adopted. Nevertheless, with the first mover advantage, it is possible that Yumm can remain its competitiveness, such as greater brand awareness or customer loyalty in the field before new entrants can get benefit (Makadok, 1998).
Since SWOT analysis helps to identify factors that will most likely affect a company’s progress, strategies must be developed out of it (Pickton, 1998). It is clear that being first in the market, Yumm needs to expand its customer base by means of building relationship and creating brand awareness, leads to the establishment of its special position and a certain amount of market share before any new contender participates in this business.
The competitors of Yumm Although there is an absence of direct competitor to Yumm, it should be noted that the prediction of future threat is of the same importance as identification of the current menace (Fahey, 1999). According to Bergen and Peteraf (2002), competitors can be classified by market commonality and resource similarity, that the former can identify substitutes and the later can identify potential competitors, while