The 3Cs approach represents another distinct approach to developing business development in organizations. This approach basically emphasizes the 3Cs (cost customers and competition). According to this approach, organizations should emphasize and develop their business strategy based on their abilities to figure out ways to lower operational costs, attract customers and overcome competition.
In this approach, the top executives of companies need to develop business strategy y based on their abilities to produce products at not only lower costs but also will satisfy the needs and wants of customers as well as be priced more competitively than that of the competitors. This approach suggests that a company’s competitiveness and growth normally resulted from the price/performance attributes of its current products.
Additionally, according to this approach, a company’s success depended not only on its ability to meet customer needs but also on how well the organization’s internal processes worked to meet its external demand. The approach further emphasizes that organizations should develop business strategy y through incorporating technological innovation into research and manufacturing operations, building better products and services, as well as pricing of goods or services lower than the competition.
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