quiz 5

From marketing perspective __________ help firms to identify market opportunities and subsequently enter new businesses through the creation of new products and improved services.

While dynamic capabilities in general are the ability to create new resources in changing markets, __________ capabilities are the ability to create new marketing resources to identify, respond to and exploit change.

The __________ has a number of key characteristics. First, they enable the provision of competitively superior value to customers. Second, they are resistant to duplication by competitors. Third, their value can be appropriated by the organization.

A firm’s resources that neither constitute a competitive advantage nor are important in customer value creation could be termed __________.

__________ marketing capabilities center on the firm’s ability to identify and capitalize on emerging market opportunities. Adaptation implies doing things differently in response to external stimuli.

The ways in which resources can be protected from duplication-barriers to imitation-have been termed __________ as they serve to protect the organization from its competition, creating a competitive barrier.

Where the firm’s resources are stronger than competitors’ ones, and at the same time those resources are important in creating customer value, those resources are called __________.

Day (1994) proposed to distinguishing between two kinds of a company’s resources. Company ________ are the endowments a business has accumulated, such as those resulting from investments in scale, plant, location and brand equity. Company ________ reflect the synergy between these assets and enable them to be deployed to the company’s advantage.

The core processes that underpin __________ strategy include market sensing (of latent customer needs), openness to new ideas, fast product development and launch, technology integration and flexible manufacturing.

__________ are the resource endowments the organization has built or acquired over time. These assets are valued by customers, rare or unique to the firm, inimitable, and non-substitutable.