competency

Examples of competency in the following topics:

• Company Capabilities

  • Although often used interchangeably, "capability" and "competency" are quite different.
  • Individuals have competencies while organizations have capabilities.
  • Both competencies and capabilities have technical and social elements (see ).
  • At the intersection of the individual and the technical, employees bring functional skills and competencies such as programming, cost accounting, electrical engineering, etc.
  • When a group of leaders have mastered certain competencies, organization capabilities become visible.

• Nonprice Competition

  • Non-price competition involves firms distinguishing their products from competing products on the basis of attributes other than price.
  • Non-price competition is a marketing strategy "in which one firm tries to distinguish its product or service from competing products on the basis of attributes like design and workmanship. "
  • It can be contrasted with price competition, which is where a company tries to distinguish its product or service from competing products on the basis of a low price.

• Competition

  • General Motors competes against Ford, Chrysler, Toyota, and other auto manufacturers.
  • Nintendo competes against Sega in the video game market.
  • It also competes against Blockbuster Video, local gyms, board games, the theater, and concerts.
  • General Motors, then, is competing to satisfy the public's need for transportation.
  • Nintendo is competing to satisfy the need for entertainment.

• Perceptual Mapping

  • Some perceptual maps use different size circles to indicate the sales volume or market share of the various competing products.
  • This is best done by placing both the ideal points and the competing products on the same map.

• Product Advertising

  • The advertisers usually provide information regarding a product's attributes and benefits which may not available from competing products (Yeshin, 1998).
  • Comparative advertising compares two or more competing brands on one or more specific attributes, be it directly or indirectly (McDaniel et al, 2006).
  • This way, by comparing one company's brand with other competing brands in the advertisement, the company most likely helps the consumers to choose which brand they would prefer to use.

• Competition Based on Value

  • Value-based marketing allows organizations to create and sustain differentiating values that enable them to compete within their markets.
  • TCVM helps businesses create and sustain differentiating value, enabling them to compete within their markets.

• Repositioning

  • Repositioning involves changing the identity of a product relative to competing products.
  • Repositioning involves changing the identity of a product relative to competing products.

• Competitive Intelligence

  • The CI field has been growing exponentially as it is becoming a must-have core competency for many businesses.
  • At the core of this concept is the ability to understand the competition's position and predict the likely moves that competing companies will employ based on basic business principles.

• The Many Goals of Persuasion

  • Promotional tactics are frequently used by companies to persuade consumers to choose their products over competing brands.
  • As companies compete for consumer attention across print, television, radio, and the Internet, promotional tools such as reward and discount programs are repeatedly offered to loyal customers in return for their continued business.
  • Describe the techniques used to persuade consumers to purchase products over competing brands

• Informative, Persuasive, and Reminder Advertising

  • Persuasive advertising is highly competitive when there are similar products in the marketplace, and products are competing for their share of the market.
  • In this situation, the winning product will differentiate itself from the competition and possess benefits that are superior to, or compete strongly with, the competition.