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Understanding a company's capabilities is the key to a strong strategic marketing position', Anon

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  1. Understanding a company's capabilities is the key to a strong strategic marketing position
    1. The example of Coca-Cola and Pepsi
    2. The Resources Based View : understanding firm success based on how well the firm uses its internal resources
    3. The Value Chain analysis
  2. But each company must consider a great number of factors like the macro-environment, competitors and customers to really have a complete view of the situation and adapt its strategy
    1. All companies are open systems
    2. The 'strategic triangle' of Ohmae
    3. Companies must be able to have a Customer Based View
    4. The competitors analysis

The capacity to analyze the sources and methods of wealth creation in a company, is essential in an environment of rapid technological changes, and that which ensures a strong marketing position which allows gaining sustainable competitive advantage. It means that creation of wealth depends in large measure on internal technological, organizational and managerial processes inside the firm. Firm-specific capabilities can be a source of advantage in exploiting existing internal and external firm specific competences to address the changing environment. The concept of dynamic capabilities can be found by Schumpeter (1942), Penrose (1959), Nelson and Winter (1982) or Prahalad and Hamel (1990). Each author emphasizes on the development of management capabilities and difficult-to imitate combinations of organizational, functional and technological skills. An organization is a set of inter-dependent elements, which in turn are dependent on the external environment. Resources of a firm mean tangible assets such as production facilities, raw materials, financial resources, real estate; intangible assets which are for instance brand names, company reputation, technical knowledge, patents; and organizational capabilities such as skills or way of combining assets. For instance Dell computer built its growth by creating an organization capable of speed, with inexpensive manufacture and delivery of custom-built PCs. Dell subsequently revolutionized its own 'system' using the Internet to automate and customize services, creating a whole new level of organization capability. A competence means the way to obtain the best from the resources, to turn inputs into outputs. Due to this capability a firm can create a competitive advantage.

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