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The theoretical foundations of strategic marketing and marketing strategy: foundational premises, R-A theory, three fundamental strategies, and societal welfare

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  • Shelby D. Hunt

    (Texas Tech University)

Abstract

The strategic marketing field of study has long suffered from an identity problem: the field has lacked clarity and consensus as to its theoretical foundations, its nature, and its scope. There have been two recent approaches that contribute to resolving the identity problem. First, Varadarajan’s (Journal of the Academy of Marketing Science, 38, 119–140, 2010) approach focuses on strategic marketing's (1) domain, (2) definition, (3) fundamental issues, and (4) foundational premises. Second, resource-advantage (R-A) theory's approach focuses on how R-A theory provides a theoretical grounding for eight forms of business and marketing strategy. This article evaluates how the two approaches relate to each other and shows how R-A theory (1) grounds extant business and marketing theories of strategy, (2) illuminates, informs, extends, and grounds the sixteen foundational premises of the strategic marketing field that Varadarajan (2010) proposes, (3) implies that there are three fundamental strategies, “superior value”, “lower cost”, and “synchronal”, and (4) shows how the three fundamental strategies promote societal welfare. Therefore, the two approaches, when considered jointly, complement each other and foster the development of the field of strategic marketing and the forms of marketing strategy.

Suggested Citation

  • Shelby D. Hunt, 2015. "The theoretical foundations of strategic marketing and marketing strategy: foundational premises, R-A theory, three fundamental strategies, and societal welfare," AMS Review, Springer;Academy of Marketing Science, vol. 5(3), pages 61-77, December.
    • Handle: RePEc:spr:amsrev:v:5:y:2015:i:3:d:10.1007_s13162-015-0069-5
    DOI: 10.1007/s13162-015-0069-5
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    Citations

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    Cited by:

    1. Rajan Varadarajan, 2015. "Strategic marketing, marketing strategy and market strategy," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 5(3), pages 78-90, December.
    2. Rajan Varadarajan, 2015. "Strategic marketing, marketing strategy and market strategy," AMS Review, Springer;Academy of Marketing Science, vol. 5(3), pages 78-90, December.
    3. Sundar Bharadwaj, 2015. "Developing new marketing strategy theory: addressing the limitations of a singular focus on firm financial performance," AMS Review, Springer;Academy of Marketing Science, vol. 5(3), pages 98-102, December.
    4. Sundar Bharadwaj, 2015. "Developing new marketing strategy theory: addressing the limitations of a singular focus on firm financial performance," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 5(3), pages 98-102, December.
    5. Amin, Hindu Jibril, 2021. "Influence of Marketing Strategies on the Performance of SMEs: Evidence from Abuja SMEs," OSF Preprints vk7de, Center for Open Science.
    6. Neil A. Morgan, 2015. "Commentary on Shelby Hunt’s “The theoretical foundations of strategic marketing and marketing strategy: foundational premises, R-A theory, three fundamental strategies, and societal welfare”," AMS Review, Springer;Academy of Marketing Science, vol. 5(3), pages 91-97, December.
    7. Johannes Habel & Sascha Alavi & Nicolas Heinitz, 2023. "A theory of predictive sales analytics adoption," AMS Review, Springer;Academy of Marketing Science, vol. 13(1), pages 34-54, June.
    8. Grimmer, Louise & Grimmer, Martin & Mortimer, Gary, 2018. "The more things change the more they stay the same: A replicated study of small retail firm resources," Journal of Retailing and Consumer Services, Elsevier, vol. 44(C), pages 54-63.
    9. Neil Morgan, 2015. "Commentary on Shelby Hunt’s “The theoretical foundations of strategic marketing and marketing strategy: foundational premises, R-A theory, three fundamental strategies, and societal welfare”," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 5(3), pages 91-97, December.
    10. Shelby D. Hunt, 2017. "Strategic marketing, sustainability, the triple bottom line, and resource-advantage (R-A) theory: Securing the foundations of strategic marketing theory and research," AMS Review, Springer;Academy of Marketing Science, vol. 7(1), pages 52-66, June.
    11. Manjit S. Yadav, 2017. "Disciplinary memory and theory development," AMS Review, Springer;Academy of Marketing Science, vol. 7(1), pages 1-3, June.

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