DEALING WITH COMPETITION: AN APPROACH FROM THE PERSPECTIVE OF CUSTOMER VALUE
Competition permeates the life and work of anyone involved in an exchange process such as selling. To help manage it, several theoretical frameworks have been developed for the minute parsing of those factors that give rise to it. Among the most influential of these theories in business studies are the five forces framework of Michael Porter (2004) and the concept of Core Competence of Pralahad and Hamel (1990). There are also other perspectives on the same issues, including one on technology (Meyer & Utterback, 1993), one on resources (Wernerfelt, 1984) and one on appropriate knowledge (Kogut & Zander, 1992).