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Learning Journal 4 - Huynh Thi Thanh Phuoc - 31191024455
Learning Journal 4 - Huynh Thi Thanh Phuoc - 31191024455
Ohmae believes that there are three most important factors that managers when
starting a campaign need to focus on: Customers, Corporations, and Competitors. If
ignoring any element of this analytical model, the process of designing a strategy will
become difficult and affect its success. However, analyzing each factor separately is
not enough, the more important is to understand how these three factors interact.
Ohmae's 3C has been used as a strategic business model for many years and is
commonly used in web marketing today. Studies suggest that this method helps
businesses focus their analysis on three factors that affect the feasibility of a
strategy, thereby finding the key success factors (KSF).
This strategic triangle pattern can start with any “C” letter. However, to have a
well-defined strategy, businesses should start analyzing customers first to have a
picture of them, next is about competitors to know what they are doing, and finally is
the company to examine the positioning.
A. The First C – Customer Analysis
According to the model, customers are the main element and goal of business and
marketing strategies. Customers have their own needs and they always want brands
that can understand and satisfy them through quality products/services. Customers
will also love brand's innovation if they meet their expectations. Ohmae's 3C model
will help businesses focus on understanding their customers, because customers are
at the heart of every aspect of their business. If a business meets the needs of its
customers, its profits and sales will skyrocket, the number of loyal customers will
also skyrocket and be sustainable. In contrast, if a corporation only focuses on
pleasing shareholders in the company or investors, that brand will lack customers.
Each customer will have a different need and the way of thinking and feeling. This
makes a difference when they see and use a certain type of product/service.
Businesses can rely on the way and purpose of customers' consumption to classify
them according to each segment.
From my point of view, doing in-depth consumer research is the best way to figure
out how to appeal to the target market. From there, it is possible to create catchy
slogans and creative advertisements.
Competitors are identified not only in the same industry but also in other similar
industries. For example, a hamburger shop will have competitors not only in the fast
food industry but also in the restaurant and supermarket industries.
It is important to narrow down the results of the survey so that more focus can be
placed on how to compete with the top three to five rival businesses. One thing to
keep in mind when analyzing competitors is not to miss any aspect of them, need to
find out their core strengths, business strategy, values, goals, sales strategy, strategy
marketing strategy and many other values.
Competitor analysis is mainly done by visiting their website, signing up for their
newsletter, visiting their store and/or getting the service (empirical analysis) they
offer. . It is also possible to perform user tests to compare the company with their
competitors. An easy and best measure is to use an SEO tool to find out how
competitors are talked about on the web as well as to get SEO related information.
For large-scale websites, a web analytics tool like SimilarWeb can be used to get
useful competitor information. Analyzing competitive businesses in this way will allow
businesses to look deeply into the customer experience as also the way the
competitors do. This knowledge is invaluable to pursue success and profits.
In my opinion, competition can come from firms within an industry, or from firms in
other industries who produce substitutes.It is necessary to analyze and categorize
direct and indirect competitors and potential competitors to devise a plan to defeat
them more easily and gain an advantage in the market.
From the results of the customer and competitor analysis, list the "strengths" and
"resources" of the company that create them. It is possible to consult customers who
have experienced the company's products and services for a more accurate and
multi-faceted view. By asking why they like the product, what marketing strategy they
are impressed with and can score points against competitors and how customers are
responding to current marketing activities.
Alternatively, web analytics data testing and analysis tools like Google Analytics can
be used to see what content customers find engaging and tend to have high value
for average session length and PV. Based on that data, find out which areas of the
company's website users are interested in and which are not. These can be clues
about products and services that fit the needs of existing users.
In order to stay ahead of the competition by generating more revenue and profits, the
company should outsource some operations to external suppliers or third parties that
are working internally, which is quite expensive and does not add any additional
costs. any value to the product offering or should plan and apply reverse integration
approaches in its core business areas.