What is 3C's Model? Learn all About it
The 3Cs model was pioneered by a Kenichi Ohmae and is used for developing strategic guidance for organizations. It helps organizations to achieve long term success through higher revenue, stronger competitive advantage, greater profits and enhanced brand image. As explained by the PenMyPaper writers, the 3Cs model presents a holistic approach on how an organization can meet the interests of its stakeholders, while developing a sustainable business venture. In this article we have discussed about the 3Cs model and its organizational implications. Understanding this model can help you in your marketing essay.
Breaking Down the 3C's Model
The 3C’s model is based on the principle that the organizational strategies and plans should be based on 3 key elements which are:
- Customers
- Corporation
- Competitors
The 3C’s model is suggests that the optimal integration of these three elements can help an organization in achieving sustained competitive advantage which is crucial for its success in the dynamic business environment. According to this model, in order to be successful, the firm needs to focus equally on its customers, the company itself and the competitors. So if you are wondering how to write a research paper outline on this strategic triangle, please have a look on the elements below.
Customers
According to the 3C’s model, the customer should be focal point of every strategies made and decisions takes in an organization. The customer-oriented approach is likely to provide long term financial stability. Organizations often take a myopic approach and focus on maximizing shareholders’ wealth, instead of focusing on needs and interests of the customers. This approach may provide temporary success but in the long run it can be quite detrimental for the company.
The customer element of 3C’s model emphasize on the buyers and the end users. It suggests that it is the responsibility of the company to identify what the customer needs and then create products and services to meet those identified needs. In order to identify the needs and preferences of the customers, it is important for the organization to segment the market. The market segmentation allows to categorize the customers based on certain characteristics such as income, profession, age, gender, buying behavior, social customs, etc. This segregation can help a company to identify needs and preferences in each customer segments that it can meet with its products and services. Segmenting the market is essential as different customer groups will have different needs and wants. It makes it much easier for the company to identify them after segregating them into groups.
The 3Cs model also suggests that a company should focus on identifying what the customers want and then design a product accordingly, instead of designing a product first and aggressively pushing it to the customers. The key advantage of this approach is that it can lead to higher customer satisfaction and stronger brand preferences. Since, the products and services directly address the needs and preferences of the target customers therefore they can easily attract a large number of customers, thus improving sales performance of the firm.
Corporation
The second element of the 3C’s model is Corporation, which focuses on maximizing the strengths of the company. It should be noted that the objective of the company should not be excelling at every front possible, but to adhere to a specific core competency and focusing on improving on that. In order to maximize strengths, the company first needs to identify its own strengths and weaknesses. Looking into a SWOT analysis example should help identifying the strong and weak areas, thus enabling the firm to develop strategies accordingly. In this case, it must be mentioned that the objective of the company should be to create inimitable competitive advantage. By investing is research and development a company can create innovative technologies which can help in offering superior products that are valuable to the customers.
Moreover, the company must also focus on strengthening its human capital, which is one of the most crucial resources. By facilitating talent development and idea generation, the company can create more innovative products and services which can attract more customers. It should be mentioned that whenever a company focuses on improving its key strengths, it also appeals to the investors. The investors become more confident in investing on the company, as it is likely to provide higher returns.
Maximizing the strengths of the company also involve having more control over its supply chain. This can be achieved through vertical integration. By creating its own raw materials and acquiring supply and distribution nodes can help a firm to become efficient in meeting the needs of the customers. Moreover, it can also give the company more control over its costs, and eventually on the pricing of its products.
Competitors
The competitors play a crucial role in determining the success of an organization. The performance of competing firms can overshadow the performance of others. Therefore, a firm should pay close attention to the competition while designing its own strategies. Analyzing the competitors can help a firm to identify the key values that they are offering to the customers. Based on that, the company can design its own products that offers superior or more unique value that can be more appealing to the customers. When preparing for a dissertation writing on the 3Cs model, you need to focus on finding the area of differentiation for the company and if you're struggling to find the area of differentiation, you may consider seeking an expert help and It will tell you what your company can do differently from other market players.
According to the 3C’s model, a company should focus on creating differentiation in every functional division, such as procurement, product and process designing, sales and service delivery, etc. Most companies only focus on creating unique products, while disregarding other functions. This can drastically limit the competitive advantage of the company. By creating differentiation in every function, a company can create even stronger competitive advantage, thus becoming an industry leader.
Summarizing it All
Summarizing for your assignment help, we have found that the 3C’s model is based on three key elements which are: customer, corporation and competitor. According to this model, a company needs to be highly customer oriented and should take decisions with the needs of the customers in mind. Secondly it needs to focus on maximizing its strengths, by creating unique competitive advantages. Finally, the company needs to closely monitor the activities and value offering of the competing firm. The 3C model has been designed for firms to achieve sustainable competitive advantage.
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