VRIN Barney
This article covers meaning & components of VRIN Barney from marketing perspective.
What is VRIN Barney?
VRIN Barney which stands for “Valuable, Rare, Imperfectly Imitable and Non-substitutable covers identification of all the potential key resources. It helps to analyze whether these resources can fulfill VRIN criteria.
VRIN Components
There are main 4 components of VRIN:
Valuable
It involves value creating strategies which can help one outperform its competitors or reduce its weakness by improving its effectiveness and increase in efficiencies.
Rare
It includes all resources which are rare and not be available to the competitor.
Imperfectly Imitable
It means that value of that particular resource would be governed by only one firm and others can’t duplicate the resource for its use.
Non-substitutable
It means that the resources can’t be substituted by any other available resources.
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