Abstract
The evolution of scholarly thought on the sources of firm-specific advantage has had a relatively long history. A contemporary view of how competitive advantage is sustained in dynamic markets is offered by the dynamic capabilities (DC) view. The DC view is treated as an offshoot of the resource-based view. Based on a review of the empirical and conceptual works that have utilized the DC view, the paper articulates the merits of this theoretical perspective for marketing scholars. Contributions of the DC perspective to theory building, empirical research, and the practice of marketing are clarified. Conclusions are presented as well as directions for future research.
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