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• W250642775 abstract "ABSTRACT To remain competitive, small retailers need to develop distinctive competencies. This is especially true for independent merchants competing against Wal-Mart and other large mass-merchandisers. This study examines the relationship between distinctive marketing competencies and the performance of 189 small retailers competing against Wal-Mart. The results of the multiple regression analysis suggest that the ability to effectively manage pricing and advertising programs are two primary sources of competitive advantage for small merchants. INTRODUCTION Considerable public concern has been directed toward the rapid expansion of large discount chain stores into smaller communities, and the impact these mass-merchandisers have on local independent retailers. Accusations have been made that tiiese discount chains frequendy engage in unfair trading practices to enhance their competitive positions. As a result, many independent merchants are forced out of business. Wal-Mart, in particular, has been the target of many of these accusations. A coalition of politicians, historic preservationists, and local merchants have charged tiiat Wal-Mart often engages in predatory pricing and other unfair competitive practices to drive out local merchants and cause urban sprawl (Steinhaurer, 1995; Welles, 1993 ). Although stories abound about retailing communities in small towns rapidly deteriorating after Wal-Mart's arrival, the blame for the individual merchant's misfortunes may be somewhat misguided. A convincing argument can be made that Wal-Mart's competitive pressure gives some local retail merchants a needed jolt, forcing them to refine their distinctive competence in order to sustain their competitive advantage. Surprisingly, little empirical research has focused on the skills and resources needed by small independent retailers to remain competitive when faced with Wal-Mart and other large discount chains. Accordingly, this study surveys local retailers located in five Midwestern communities in order to identify what specific organizational skills and resources underlie the competitive advantages enjoyed by those local retailers that successfully compete in the same retailing environment as Wal-Mart. In doing so, we identify areas of distinctive competencies common to small retailers and assess the degree to which these competencies can lead to a competitive advantage. LITERATURE REVIEW In most competitive settings, some firms are inevitably more successful than others. The superior performers conceivably possess something special and hard to imitate that allows them to outperform their rivals. These unique skills are often labeled distinctive competencies and generally refer to the skills and activities that a firm can do better tiian rival firms (Selznick, 1957; Conant Mokwa, & Varadarajan, 1990; Lado, Boyd, & Wright, 1992). By doing tilings such as employing a more knowledgeable workforce, providing higher quality service, or being able to react to customer demands more effectively than competitors, small retailers are able to build competitive advantage. An extensive body of research pertaining to the interplay between competitive advantage and distinctive competence exists, and it is generally recognized that firms who develop and exploit their respective distinctive competence outperform those firms that do not (Hambrick, 1983; MacDaniels & Kolari, 1987; Conant, et al., 1990). The distinctive competencies of an organization arise from two complimentary sources-its resources and capabilities (Day & Wensley, 1988). Resources refer to both tangible resources such as the financial, physical, human, technological, and organizational resources possessed by the firm and intangible resources such as brand names, reputation, and marketing know-how. In order for a company's resources to be a true distinctive competence, they must also be both valuable and unique. …" @default.
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• W250642775 title "Competing against Retailing Giants: A Look at the Importance of Distinctive Marketing Competencies" @default.
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