Distinctive competencies differentiate a company from it from its competitors. It basically includes a list of valuable practices and technical skills that make your organization better than others. Companies work hard to build their skills and provide their customers with a unique value proposition. This includes a set of benefits that customers would not be able to receive anywhere else besides your organization. These distinct abilities further contribute to your company’s reputation, increasing brand awareness in your target market. What is distinctive competency? Distinctive competence is a list of characteristics that sets a business apart from others. It may include a number of areas including marketing, technology, manufacturing and so on. Distinctive competencies give your organization an edge over others so it’s worth developing certain characteristics that competitors will find difficult to implement. To develop a particular distinctive competence, companies must conduct a thorough external and internal review of their…

Starbucks mission statement (along with its delicious variety of beverages), is probably why the multi-million dollar coffeehouse chain has soared to success. Known for its hipster menu items and Instagram-capture-worthy frappucinos, teas, and lattes, Starbucks quickly became the third-largest fast food restaurant chain. But its unicorn-inspired coffee products isn’t the only reason why Starbucks is so famous. After all, the real essence of a brand can only be captured by its mission statements and values. Starbucks Mission Statement Surprisingly though, Starbucks coffee mission statement has absolutely nothing to do with coffee. At least not directly, like most coffee chains. Here’s what Starbuck’s mission statement is as mentioned on its company website: “To inspire and nurture the human spirit – one person, one cup and one neighborhood at a time.” Starbucks Mission Statement Analysis So as you can see, the coffee house’s mission statement doesn’t have so much to do with…

Selective distribution is the most effective distribution strategy for high-end brands that want to set up a limited number of outlets in a particular geographical location. This is quite different from exclusive distribution (which can be a little too extreme) and is considered as a middle path approach to distribution. This type of strategy works best when dealing with consumers that like to “shop around”. Or simply put, it’s ideal for customers who may have special brand preferences when they are purchasing a specific product. What is Selective Distribution? For better clarity, selective distribution occurs when a company resorts to opening up a limited number of outlets in a specific geographical location. Sure, this may sound restrictive at best but it actually helps the producer filter out the best-performing outlets. This yields better results and allows the company to put in all their focus effort (training facilities and resource) to…