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Know-How
It can be defined as the accumulation of essential know-how and experience that have led an organization to success and are now part of the company's know-how.
Sometimes the term is used incorrectly, using it to define any technique of a company. However, a series of requirements must be met for the processes to form part of the company's know-how:
- It should be about something concrete and specific. It cannot be something general that can be part of any other company.
- It has to be a distinctive feature that sets you apart from the competition, therefore it has to be something confidential.
- It represents a competitive advantage, compared to other competitors in the sector.
At the Marketing level, Know-How is part of the greatest attractions of the organization. One of the best known examples is that of the intriguing secret formula of Coca-Cola. They have many competitors but none can exactly imitate their flavor, also for commercial purposes this mystery sets them apart from the competition and places them as a leader in their sector, giving the company a competitive advantage.
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