Marketing capability is define as the process of integrating the companies

Marketing capability is define as the process of integrating the companies

student 1

Marketing capability is define as the process of integrating the companies, which use the company’s resources and skills to understand the needs of customers to create different types of products related to the competition and get the brand superiority and means the ability of the company to the integration of knowledge, skills and processes to meet the needs of customers and build a market opportunity better than competitors and uses resource to relate with customers and can lead to market abilities (Narsimhan et al., 2006).

The concept of dynamic marketing capabilities is of key importance and highlights the main elements such as economy, technology, demography and society. These elements affect the development of companies and as such need to understand their environment in order to promote changes, make modifications or innovations, of resources and promote changes in order to respond to the dynamics of its environment.

Marketers use their generic skills such as organizing, building teams, establishing collaborative networks, starting new businesses, detect new opportunities, scan and interpret information. These skills are partially driven by the administrative ability, by the knowledge and creative skills, and are also learned through years of experience and reflection. Companies not only must respond to changing environmental conditions, they could also anticipate future changes in the market, which implies that they can reshape the administrative capacities within the management teams.

There are various approaches between dynamic capabilities and competitive advantage. Dynamic capabilities are not necessarily related to competitive advantage (Kor, Y., Mesko, A. 2012.). According to these authors the relationships between dynamic capacities and competitive advantage can be positive, negative, direct and indirect, which depends on the type of capacity analyzed, and the influence of the dynamics of the environment.

Dynamic marketing capabilities view on creating market change. (n.d.). European Journal of Marketing, (5/6), 1007. https://doi-org.ezproxy.snhu.edu/10.1108/EJM-10-2016-0588

Kor, Y., Mesko, A. 2012. Research notes and commentaries Dynamic managerial capabilities: configuration and orchestration of top executives capabilities and firms dominant logic. Strategic Management Journal 30 (13): 1375–1394.

Narsimhan, O.,Rajiv, S.,&Dutta, S.2006 .Absorptive capacity in high-technology markets: The competitive advantage of the haves. Marketing Science, 25(5); 510−524.

student 2

In reference to “dynamic capabilities” my research article defined it as, “firms’ ability to build, reconfigure, and integrate external and internal competences and be able to respond to the rapidly changing business environment (Alonso et al, 2018).” That is obviously an incredibly broad topic. The being said, it can be applied to nearly every facet of a business. From the product(s)/service(s), marketing, Human Resources and beyond, a company’s dynamic capabilities can manifest in the success or failure at each department level, and the firm as a whole. Strong companies are built on a foundation of strong core-competencies, but it’s the dynamic element of those capabilities that is so important for growth, and organizational longevity. The “dynamic” component refers to the “capacity to renew competences (Alonso et al, 2018).” The ability to change and adapt is paramount for every organization. In domestic markets, economies, consumer tastes, access to resources, and nearly infinite other factors can change, resulting in a reduction of the firm’s competitive advantage. Additionally, if a company looks to grow, dynamic capabilities will be crucial when it comes to adapting products to new cultures, developing supply-chains, and creating a marketing mix tailored to a very different consumer base.

The article I read discussed how dynamic capabilities influenced family businesses. It discussed how the successful firms it interviewed typically had an important idiosyncratic knowledge that fueled the business, but interestingly, how families can create a DC out of the generations themselves. It discussed how each generation can provide “more nuanced knowledge (Alonso et al, 2018),” ultimately allowing the companies to adapt as they age. As the family members would grow up in the environment of the business they would “develop an in-depth level of firm-related tacit knowledge(Alonso et al, 2018).” I found this to be a really cool concept. You have these family businesses that have some type of trade-secret, maybe a secret recipe, and then the members of the family are able to provide generation specific insights for the business. As the company ages, it adds in younger family members to the process, aiding in the adaptation necessary for sociocultural trend shifts. Having these dynamic capabilities allowed the companies, as Alonso et al. states, “to avoid rigidity and becoming trapped.”

I think that is the case for all businesses. Marketers need to adapt messages to consumer trends, R&D needs to develop products to new tastes and preferences, and those that adapt to create the most contemporary value for customers will see the benefits. In the instance of my company and country choice of Dunkin’ in China, it is particularly evident. Dunkin’ clearly has core-competencies in coffee, quick service, and a number of other facets, but it is built on practices developed for an American audience. Coffee tastes are significantly different in China than the U.S., so Dunkin needs to ensure it can adapt to varying trends to provide a product line in tune with cultural trends. Dunkin’ has not shown the same level of dynamic capability as Starbucks in the marketplace, and it is reflected by market cap, number of stores, and global reach. If Dunkin’ wants to match the growth and scale of Starbucks, it will need to begin adapting to more cultures, and prove its core competences aren’t just strategic advantages in the U.S.

min 100 words each