Question

why should a firm be awate of its co

petitors distinctive competencies?

what is market segment? explain bow an automaker might appeal to different market segments.

discusss how the priciples of marketing can be applies to people.

Answer 1

ANSWER1) Distinctive competence refers to the unique characteristics in areas such as technology, marketing, manufacturing and so on that few firms possess; and thus allows gaining advantage over the competition. It make inroads into desired markets and helps firm to better than their rivals. Thus to grow and survive it is important for a firm to monitor the competitors distinctive competencies. Failure to do it may cause the firm to lose their distinctive competence due to the changes in the business environment because distinctive competencies act as the basis for development of an unassailable competitive advantage. Moreover to sustain and develop a competitive advantage, a firm must hold some sort of competitive advantage, based on a distinctive competency, that allows it give a unique value proposition and thus increase it's profit.