Question

Target, a discount store has successfully partnered with luxury brands such as Lilly Pulitzer, Toms, and Altuzarra to create interest and drive customers to its stores. Target's ability to create these partnerships is considered one of its strengths and provides an advantage over its competitors. This is an example of a _______. a.core competency b.market opportunity c.strategic window dpetitive advanta

Answer 1

Answer:

a.core competency.

Explanation:

Core competency can be defined as the set of skills, experience and technical know-how, which an organization possesses and distinguishes them from their competitors (rivals) in the same industry. Basically, measuring the core competence of an organization is beyond its financial assets or physical value. Core competency of an organization is rather the defining capabilities and resources which gives it a competitive advantage over its rivals in the same industry.

Hence, the combination of firm-specific and valuable resources and firm-specific productivity allows a company to possess a core competency. A company that possesses core competence are characterized by;

1. They are not so easy to imitate or not imitable by their rivals in the industry.

2. They have a very large market capital share and as such are able to diversify.

3. A core competent company should be able to provide significant satisfaction or benefits to the consumers of its products..