Firms possessing certain core competencies are more likely to create competitive advantages based on these competencies. however, before a competitive advantage can be translated into specific customer benefits, the firm’s must recognize that its competencies give it an advantage over the competition.

The answer is: target markets

Explanation:

This is something that should be obvious, a company may have a great product with excellent specifications, capacities, etc. that give them competitive advantages over the competition, but if their market (the customers) don´t realize that the company´s product is that good, then the competitive advantage vanishes.

E.g. you own a restaurant and your new chef makes the most delicious pasta in town, but if your customers only associate your restaurant with Mexican food, then your chef´s excellent abilities are worthless.

b. a single paragraph.

a paragraph is a series of sentences that are organized and make sense, and are all related to a single topic . almost every piece of writing you do that is longer than a few sentences should be organized into paragraphs. this is because paragraphs show a reader where the subdivisions of an essay begin and end, and thus the reader see the organization of the essay into subjects in order to be able to understand its main points.