"Six C": A Market Driven Approach for Business to Business Marketers
When developing marketing and communications plans and tactics, applying the "Six C's" of market driven companies is a key to the success of programs for all business to business companies. Advertising, public relations, email marketing, branding strategy, trade shows,and internet marketing strategies will be more effective if the needs of the customer and market segment are researched and understood, both by the business and the agency. This knowledge drives the creation and implementation of the most successful marketing programs.
There are significant contrasts between a market driven company and an inside out approach to business, much as there are contrasts between an agency that is market driven (external focus) or creatively driven (internal focus). Many business and agency managers are internally focused and could achieve a better understanding of their customers and markets by implementing the "Six C's" approach.
- Customer Segment: To be market driven, thinking and actions begin with an understanding of customer market segments, their requirements, and unmet and emerging needs
- Competition: Market driven B2B companies study the products, services and performance of their competitors to determine their strengths and weaknesses
- Capabilities: Market driven organizations actively evaluate their technologies and capabilities in light of changing market conditions. They quickly adapt (before their competitors) products and services to meet the needs of the target market segments.
- Cost: To be market driven companies must constantly strive to improve costs and efficiency and increase value to their customers and shareholders
- Continual Improvement: By constantly learning and seeking to improve in all operational areas, market driven companies improve customer value, response time, productivity and also their own profitability
- Cross-Functional Teams: Utilizing cross functional teams with responsibility to implement business plans leads to better decisions, response, and service to the target markets