IDEAS home Printed from https://ideas.repec.org/a/eee/jbrese/v174y2024ics0148296324000298.html
   My bibliography  Save this article

Dynamic strategic marketing planning: The paradox of concurrently reconfiguring and implementing strategic marketing planning

Author

Listed:
  • Theoharakis, Vasilis
  • Zheng, Yuyan
  • Zhang, Long

Abstract

Traditional marketing planning may not be as effective in today’s challenging environments for achieving the dual imperative of meeting objectives and continuously improving market fit. Therefore, we introduce the concept of dynamic strategic marketing planning (DSMP) as a higher-order capability that requires the concurrent orchestration of marketing planning, senior management-led strategic implementation, and change as operationalized through the reconfiguration of processes and resources. With responses from 313 CEOs, we demonstrate that DSMP does overcome the innovativeness rigidities found in ordinary marketing planning capabilities. While DSMP is associated with higher levels of innovativeness, it also achieves higher levels of financial performance over ordinary marketing planning capabilities. Our findings seek to transform marketing planning practice by requiring that its implementation receives the attention of senior managers and combines reconfiguration processes that promote the renewal of plans and capabilities.

Suggested Citation

  • Theoharakis, Vasilis & Zheng, Yuyan & Zhang, Long, 2024. "Dynamic strategic marketing planning: The paradox of concurrently reconfiguring and implementing strategic marketing planning," Journal of Business Research, Elsevier, vol. 174(C).
    • Handle: RePEc:eee:jbrese:v:174:y:2024:i:c:s0148296324000298
    DOI: 10.1016/j.jbusres.2024.114525
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0148296324000298
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.jbusres.2024.114525?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Goumagias, Nikolaos & Fernandes, Kiran Jude & Nucciarelli, Alberto & Li, Feng, 2022. "How to overcome path dependency through resource reconfiguration," Journal of Business Research, Elsevier, vol. 145(C), pages 78-91.
    2. Margaret A. Peteraf & Mark E. Bergen, 2003. "Scanning dynamic competitive landscapes: a market‐based and resource‐based framework," Strategic Management Journal, Wiley Blackwell, vol. 24(10), pages 1027-1041, October.
    3. Richard J. Arend & Y. Lisa Zhao & Michael Song & Subin Im, 2017. "Strategic planning as a complex and enabling managerial tool," Strategic Management Journal, Wiley Blackwell, vol. 38(8), pages 1741-1752, August.
    4. Neil A. Morgan & Douglas W. Vorhies & Charlotte H. Mason, 2009. "Market orientation, marketing capabilities, and firm performance," Strategic Management Journal, Wiley Blackwell, vol. 30(8), pages 909-920, August.
    5. Batsakis, Georgios & Theoharakis, Vasilis & Li, Chengguang & Konara, Palitha, 2023. "Internationalization and digitalization: Their differing role on grocer and non-grocer retailer performance," Journal of Retailing, Elsevier, vol. 99(3), pages 400-419.
    6. Birger Wernerfelt, 1984. "A resource‐based view of the firm," Strategic Management Journal, Wiley Blackwell, vol. 5(2), pages 171-180, April.
    7. Randhawa, Krithika & Wilden, Ralf & Gudergan, Siegfried, 2021. "How to innovate toward an ambidextrous business model? The role of dynamic capabilities and market orientation," Journal of Business Research, Elsevier, vol. 130(C), pages 618-634.
    8. David J. Teece, 2012. "Dynamic Capabilities: Routines versus Entrepreneurial Action," Journal of Management Studies, Wiley Blackwell, vol. 49(8), pages 1395-1401, December.
    9. Sidney G. Winter, 2003. "Understanding dynamic capabilities," Strategic Management Journal, Wiley Blackwell, vol. 24(10), pages 991-995, October.
    10. Hooley, Graham J. & Greenley, Gordon E. & Cadogan, John W. & Fahy, John, 2005. "The performance impact of marketing resources," Journal of Business Research, Elsevier, vol. 58(1), pages 18-27, January.
    11. Hoque, Mohammad Tayeenul & Nath, Prithwiraj & Ahammad, Mohammad Faisal & Tzokas, Nikolaos & Yip, Nick, 2022. "Constituents of dynamic marketing capability: Strategic fit and heterogeneity in export performance," Journal of Business Research, Elsevier, vol. 144(C), pages 1007-1023.
    12. Peter J. Brews & Michelle R. Hunt, 1999. "Learning to plan and planning to learn: resolving the planning school/learning school debate," Strategic Management Journal, Wiley Blackwell, vol. 20(10), pages 889-913, October.
    13. Herbert A. Simon, 1993. "Strategy and organizational evolution," Strategic Management Journal, Wiley Blackwell, vol. 14(S2), pages 131-142, December.
    14. Kimberly A. Whitler & Ben Lee & Ryan Krause & Neil A. Morgan, 2021. "Upper echelons research in marketing," Journal of the Academy of Marketing Science, Springer, vol. 49(1), pages 198-219, January.
    15. Paul Hughes & Ian R. Hodgkinson & Darwina Arshad & Mathew Hughes & Vitor Leone, 2018. "Planning to improvise? The role of reasoning in the strategy process: Evidence from Malaysia," Asia Pacific Journal of Management, Springer, vol. 35(2), pages 449-470, June.
    16. Theoharakis, Vasilis & Hooley, Graham, 2008. "Customer orientation and innovativeness: Differing roles in New and Old Europe," International Journal of Research in Marketing, Elsevier, vol. 25(1), pages 69-79.
    17. David J. Teece, 2007. "Explicating dynamic capabilities: the nature and microfoundations of (sustainable) enterprise performance," Strategic Management Journal, Wiley Blackwell, vol. 28(13), pages 1319-1350, December.
    18. Georgios Batsakis & Vasilis Theoharakis, 2021. "Achieving the Paradox of Concurrent Internationalization Speed: Internationalizing Rapidly in Both Breadth and Depth," Management International Review, Springer, vol. 61(4), pages 429-467, August.
    19. Teece, David J, 2018. "Dynamic capabilities as (workable) management systems theory," Journal of Management & Organization, Cambridge University Press, vol. 24(3), pages 359-368, May.
    20. Rudd, John M. & Greenley, Gordon E. & Beatson, Amanda T. & Lings, Ian N., 2008. "Strategic planning and performance: Extending the debate," Journal of Business Research, Elsevier, vol. 61(2), pages 99-108, February.
    21. Piercy, Nigel F. & Morgan, Neil A., 1994. "The marketing planning process: Behavioral problems compared to analytical techniques in explaining marketing plan credibility," Journal of Business Research, Elsevier, vol. 29(3), pages 167-178, March.
    22. Neil A. Morgan & Kimberly A. Whitler & Hui Feng & Simos Chari, 2019. "Research in marketing strategy," Journal of the Academy of Marketing Science, Springer, vol. 47(1), pages 4-29, January.
    23. 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.
    24. Chang, Woojung & Park, Jeong Eun & Chaiy, Seoil, 2010. "How does CRM technology transform into organizational performance? A mediating role of marketing capability," Journal of Business Research, Elsevier, vol. 63(8), pages 849-855, August.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Steven W. Bayighomog Likoum & Mohamed Dawood Shamout & Ibrahim Harazneh & A. Mohammed Abubakar, 2020. "Market-Sensing Capability, Innovativeness, Brand Management Systems, Market Dynamism, Competitive Intensity, and Performance: an Integrative Review," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 11(2), pages 593-613, June.
    2. Mitrega, Maciej & Siemieniako, Dariusz & Makkonen, Hannu & Kubacki, Krzysztof & Bresciani, Stefano, 2021. "Versatile capabilities for growth in the context of transforming countries: Evidence from Polish manufacturing companies," Journal of Business Research, Elsevier, vol. 134(C), pages 156-170.
    3. Shaker A. Zahra & Olga Petricevic & Yadong Luo, 2022. "Toward an action-based view of dynamic capabilities for international business," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 53(4), pages 583-600, June.
    4. Sora Lee & Jaewon Yoo, 2021. "Determinants of a Firm’s Sustainable Competitive Advantages: Focused on Korean Small Enterprises," Sustainability, MDPI, vol. 13(1), pages 1-16, January.
    5. Abel Duarte Alonso & Seng K. Kok & Seamus O'Brien, 2019. "Understanding Approaches To Innovation Through The Dynamic Capabilities Lens: A Multi-Country Study Of The Wine Industry," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 23(06), pages 1-30, August.
    6. Fred Strønen & Thomas Hoholm & Kari Kværner & Linn Nathalie Støme, 2017. "Dynamic capabilities and innovation capabilities: The case of the ‘Innovation Clinic’," Journal of Entrepreneurship, Management and Innovation, Fundacja Upowszechniająca Wiedzę i Naukę "Cognitione", vol. 13(1), pages 89-116.
    7. Lauri Haapanen & Pia Hurmelinna-Laukkanen & Jan Hermes, 2018. "FIRM FUNCTIONS AND THE NATURE OF COMPETITIVE ADVANTAGE IN INTERNATIONALIZING SMEs," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 22(03), pages 1-30, April.
    8. Zhao, Nanyang & Hong, Jiangtao & Lau, Kwok Hung, 2023. "Impact of supply chain digitalization on supply chain resilience and performance: A multi-mediation model," International Journal of Production Economics, Elsevier, vol. 259(C).
    9. Santos-Vijande, María Leticia & del Río-Lanza, Ana Belén & Suárez-Álvarez, Leticia & Díaz-Martín, Ana María, 2013. "The brand management system and service firm competitiveness," Journal of Business Research, Elsevier, vol. 66(2), pages 148-157.
    10. Nayak, Bishwajit & Bhattacharyya, Som Sekhar & Krishnamoorthy, Bala, 2022. "Exploring the black box of competitive advantage – An integrated bibliometric and chronological literature review approach," Journal of Business Research, Elsevier, vol. 139(C), pages 964-982.
    11. Gliga, Gabriela & Evers, Natasha, 2023. "Marketing capability development through networking – An entrepreneurial marketing perspective," Journal of Business Research, Elsevier, vol. 156(C).
    12. Ilgaz Arikan & Ipek Koparan & Asli M Arikan & Oded Shenkar, 2022. "Dynamic capabilities and internationalization of authentic firms: Role of heritage assets, administrative heritage, and signature processes," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 53(4), pages 601-635, June.
    13. Philip T. Roundy & Dutch Fayard, 2019. "Dynamic Capabilities and Entrepreneurial Ecosystems: The Micro-Foundations of Regional Entrepreneurship," Journal of Entrepreneurship and Innovation in Emerging Economies, Entrepreneurship Development Institute of India, vol. 28(1), pages 94-120, March.
    14. Khan, Huda & Khan, Zaheer, 2021. "The efficacy of marketing skills and market responsiveness in marketing performance of emerging market exporting firms in advanced markets: The moderating role of competitive intensity," International Business Review, Elsevier, vol. 30(6).
    15. Zhang, Yucheng & Hou, Zhongwei & Yang, Feifei & Yang, Miles M. & Wang, Zhiling, 2021. "Discovering the evolution of resource-based theory: Science mapping based on bibliometric analysis," Journal of Business Research, Elsevier, vol. 137(C), pages 500-516.
    16. Robert Hurley, 2023. "An Organizational Capacity for Trustworthiness: A Dynamic Routines Perspective," Journal of Business Ethics, Springer, vol. 188(3), pages 589-601, December.
    17. André de Abreu Saraiva Monteiro Alves & Fernando Manuel Pereira de Oliveira Carvalho, 2022. "How Dynamic Managerial Capabilities, Entrepreneurial Orientation, and Operational Capabilities Impact Microenterprises’ Global Performance," Sustainability, MDPI, vol. 15(1), pages 1-23, December.
    18. Jim Andersén, 2023. "Green resource orchestration: A critical appraisal of the use of resource orchestration in environmental management research, and a research agenda for future study," Business Strategy and the Environment, Wiley Blackwell, vol. 32(8), pages 5506-5520, December.
    19. von den Driesch, Till & Eva Susanne da Costa, Maika & Christina Flatten, Tessa & Brettel, Malte, 2015. "How CEO experience, personality, and network affect firms' dynamic capabilities," European Management Journal, Elsevier, vol. 33(4), pages 245-256.
    20. Quan Anh Nguyen & Gillian Sullivan Mort, 0. "Conceptualising organisational-level and microfoundational capabilities: an integrated view of born-globals’ internationalisation," International Entrepreneurship and Management Journal, Springer, vol. 0, pages 1-23.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jbrese:v:174:y:2024:i:c:s0148296324000298. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/jbusres .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.