The Brand Benefits Playbook by Allen Weiss PhD

Author:Allen Weiss, PhD
Language: eng
Format: epub
ISBN: 9781637745045
Publisher: BenBella Books
Published: 2023-11-29T00:00:00+00:00

The Power of Core Competencies

Because you are focusing on strengths that directly support benefits, its useful to stop and consider an important type of organizational strength–brand benefit relationship: a core competency.6 Core competencies are broadly defined as key capabilities that reflect what your organization does uniquely well. Core competencies are important to an organization because they can help an organization distinguish its brands from its competitors and reduce costs more than competitors do, thereby attaining a competitive advantage. Your positioning statement is highly credible when the benefits in the positioning statement are core competencies.

There are three tests to identify core competencies. The first test involves matching your strengths to benefits. Your strengths must make “a significant contribution to the perceived customer benefits of the end product.”7 So, in a table like Exhibit 5.1, there must be at least one X, and ideally strengths along the value chain as well. In addition, the strength supporting the benefit cannot be temporary, such as strength built on a patent that will expire soon; it must be a strength that is relatively enduring over time. A second test of a core competency is that the strengths cannot be easily imitated by competitors. If competitors can readily copy your strengths, the competency will not be an enduring one. A third test is that these strengths, and the benefits they are associated with, allow or have allowed you to compete in other markets. Such strengths also tend to cross internal organizational boundaries.

If you have strengths with these qualities, they are core competencies for your organization. And if these core competencies support the benefits in your positioning statement, your statement will be more credible. These strengths will also assist you in in developing paths for growth—a topic we discuss in chapter eight.

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.