Let's look at how to analyze the market from another micro perspective.
"Five forces analysis" romania cell phone number list is useful when conducting micro-level analysis in 3C analysis.
The trick is to break down and analyze the threats your company faces into five forces: competitors, new entrants, substitutes, bargaining power of customers, and bargaining power of sellers.
:
item
Five Forces Analysis
Competitors
There are many cafe chains and competition is fierce.
New entrants
New entrants such as supermarkets and bakeries are posing a threat, with some opening eat-in corners.
Alternatives
Convenience store coffee has become established and is becoming a threat.
Bargaining power of customers
Customers have high bargaining power because they can get cheap coffee from convenience stores and beverages from fast food restaurants.
Bargaining power of sellers
Investments such as variety of beverages and comfortable sofas are easily available to competitors, so sellers have low bargaining power.
Next, we will look at how to conduct customer analysis.
When conducting customer analysis using 3C analysis, it is a good idea to use surveys and interviews with your existing customers, as well as word-of-mouth on social media. If you want to obtain more information, it is also effective to use a research company to conduct a wide-ranging survey.
The trick to customer analysis is to gather objective information. To conduct an effective 3C analysis, you should not only use surveys collected by your company, but also use social media and online word-of-mouth to avoid collecting only information that is convenient for your company.
Step 2: Competitor analysis
The next step in the 3C analysis is competitor analysis.
We identify the strengths that competitors have in competing with the market and customers, and conversely, their weaknesses.
Information sources include company websites for products and services, and financial statements for sales and other performance information.
When analyzing competitors using 3C analysis, it is important to look at the information objectively. Don't think about whether it is good or bad for your company, just look at the facts.
Step 3: Analyze your company
The final step in the 3C analysis is to analyze your company.
Think about your company's position and how it can compete with the market and customers.
A useful tip for conducting a 3C analysis is to use a framework called SWOT analysis. In a SWOT analysis, a company's strengths, weaknesses, opportunities, and threats are broken down into four categories for analysis.
As an example, let's consider a fictional coffee shop chain.
item
SWOT Analysis
Strength
The company has a nationwide network of 1,000 stores and is well known.
Weakness
Its menu development capabilities are weaker than those of other companies, and it is unable to provide new value to customers.
Opportunity
Food delivery services like Uber Eats have become commonplace, making it possible to provide products to customers who cannot come to stores.
Threat
There is a risk that they will lose customers as eat-in options at supermarkets, bakeries, etc.
A SWOT analysis will help you to determine where your company should stand.