Core Competency Definition and Explanation PDF Download
Learn Core Competency definition in marketing with explanation to study “What is Core Competency”. Study core competency explanation with marketing terms to review marketing course for online MBA programs.
Core Competency Definition:
Attribute that (1) is a source of competitive advantage in that it makes a significant contribution to perceived customer benefits, (2) has applications in a wide variety of markets, (3) is difficult for competitors to imitate.
Principles of Marketing by Philip T. Kotler, Gary Armstrong
Core Competency Explanation:
This concept is defined as a combination of different resources that differentiate a product in the market. Core competency is an integral part of a company, which plays an important role in company's profitability. The importance of having core competencies is a long term market edge. It also helps companies in the development of other core products.
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