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Strategic marketing, marketing strategy and market strategy

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  • Rajan Varadarajan

Abstract

In the lead article of this issue, Hunt ( 2015 ) provides an exposition of how the resource-advantage (R-A) theory undergirds the sixteen foundational premises of marketing strategy advanced in Varadarajan (Journal of the Academy of Marketing Science, 38 (2), 119-140, 2010 ). Hunt notes that R-A theory and its three foundational strategies, and the sixteen foundational premises of marketing strategy complement each other in securing the theoretical foundations of the field of strategic marketing. Building on Hunt’s article, this commentary provides additional insights into issues fundamental to the field of strategic marketing and R-A theory, and the foundational premises of marketing strategy and R-A theory. The commentary also provides a retrospective and prospective discussion of the domain of strategic marketing, definition of marketing strategy, issues fundamental to the field of strategic marketing, and the foundational premises of marketing strategy that I had proposed in my above referenced article. In the context of theory development, empirical research and organization of the cumulative body of knowledge in the field of strategic marketing, I highlight the conceptual distinction between marketing strategy and market strategy. Copyright Academy of Marketing Science 2015

Suggested Citation

  • 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.
    • Handle: RePEc:spr:jknowl:v:5:y:2015:i:3:p:78-90
    DOI: 10.1007/s13162-015-0073-9
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    References listed on IDEAS

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    1. Shelby D. Hunt, 1997. "Resource-Advantage Theory: An Evolutionary Theory of Competitive Firm Behavior?," Journal of Economic Issues, Taylor & Francis Journals, vol. 31(1), pages 59-78, March.
    2. 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.
    3. David J. Teece & Gary Pisano & Amy Shuen, 1997. "Dynamic capabilities and strategic management," Strategic Management Journal, Wiley Blackwell, vol. 18(7), pages 509-533, August.
    4. Kathleen M. Eisenhardt & Jeffrey A. Martin, 2000. "Dynamic capabilities: what are they?," Strategic Management Journal, Wiley Blackwell, vol. 21(10‐11), pages 1105-1121, October.
    5. Shelby Hunt, 2015. "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 61-77, December.
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    Citations

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    Cited by:

    1. Rajan Varadarajan, 2019. "Theoretical underpinnings of research in strategic marketing: a commentary," Journal of the Academy of Marketing Science, Springer, vol. 47(1), pages 30-36, January.
    2. G. Tomas M. Hult & David J. Ketchen, 2017. "Disruptive marketing strategy," AMS Review, Springer;Academy of Marketing Science, vol. 7(1), pages 20-25, June.
    3. Mulaa, Josephine K. & Kilika, James M. & Namusonge, Mary J. & Institute of Research, Asian, 2021. "Conceptualizing Strategic Innovation in a Firm Context: A Theoretical Review and Research Agenda," OSF Preprints 8ckts, Center for Open Science.
    4. Fernando Antonio Monteiro Christoph D’Andrea, 2020. "Strategic marketing & Austrian economics: The foundations of resource-advantage theory," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 33(4), pages 481-501, December.
    5. Melea Press, 2021. "Developing a strong sustainability research program in marketing," AMS Review, Springer;Academy of Marketing Science, vol. 11(1), pages 96-114, June.
    6. 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.

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