IDEAS home Printed from https://ideas.repec.org/a/spr/amsrev/v7y2017i1d10.1007_s13162-017-0090-y.html
   My bibliography  Save this article

Strategic marketing, sustainability, the triple bottom line, and resource-advantage (R-A) theory: Securing the foundations of strategic marketing theory and research

Author

Listed:
  • Shelby D. Hunt

    (Texas Tech University)

Abstract

Addressing strategic marketing's identity problem, several highly complementary works have clarified the field's theoretical foundations, nature, and scope by (1) specifying its domain, (2) defining its central concept, "marketing strategy," (3) proposing the field's foundational premises, and (4) positing its fundamental explananda. Furthermore, the works have shown how resource-advantage (R-A) theory (5) grounds major theories of marketing strategy, (6) illuminates, informs, extends, and grounds the field's foundational premises, (7) identifies three fundamental strategies ("superior value," "lower cost," and "synchronal"), and (8) explains how the three fundamental strategies promote societal welfare. However, a major unresolved issue concerns the second fundamental explanandum of strategic marketing. Specifically, Varadarajan (AMS Review, 5, 78-90, 2015) expands his second fundamental explanandum from "marketplace and financial performance" to explaining triple bottom line (TBL) performance. That is, strategic marketing theory and research should answer: "What explains differences in [social, environmental, and financial] performance of competing brands/product lines/businesses?" This article provides a background discussion on how "sustainability" and the TBL relate to marketing in general and strategic marketing, in particular. Next, it (1) examines the nature of the TBL, (2) shows how the TBL concept and certain issues regarding its measurement parallel those in the "corporate social responsibility" literature, (3) re-examines the value of the TBL framework, (4) makes clear how R-A theory accommodates the TBL, and (5) shows how R-A theory provides seven potential explanations of differences in firms' TBL performance.

Suggested Citation

  • 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.
    • Handle: RePEc:spr:amsrev:v:7:y:2017:i:1:d:10.1007_s13162-017-0090-y
    DOI: 10.1007/s13162-017-0090-y
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s13162-017-0090-y
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s13162-017-0090-y?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. Bohringer, Christoph & Jochem, Patrick E.P., 2007. "Measuring the immeasurable -- A survey of sustainability indices," Ecological Economics, Elsevier, vol. 63(1), pages 1-8, June.
    2. World Commission on Environment and Development,, 1987. "Our Common Future," OUP Catalogue, Oxford University Press, number 9780192820808.
    3. Isabelle Maignan & David A Ralston, 2002. "Corporate Social Responsibility in Europe and the U.S.: Insights from Businesses' Self-presentations," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 33(3), pages 497-514, September.
    4. N/A, 2011. "Sustainable Consumption," Journal of Education for Sustainable Development, , vol. 5(2), pages 164-164, September.
    5. 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.
    6. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
    7. Carroll, Archie B., 1991. "The pyramid of corporate social responsibility: Toward the moral management of organizational stakeholders," Business Horizons, Elsevier, vol. 34(4), pages 39-48.
    8. 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.
    9. Norman, Wayne & MacDonald, Chris, 2004. "Getting to the Bottom of “Triple Bottom Line”," Business Ethics Quarterly, Cambridge University Press, vol. 14(2), pages 243-262, April.
    10. 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.
    11. Hunt, Shelby D. & Menon, Anil, 1995. "Metaphors and competitive advantage: Evaluating the use of metaphors in theories of competitive strategy," Journal of Business Research, Elsevier, vol. 33(2), pages 81-90, June.
    12. Shelby D. Hunt, 2013. "The inductive realist model of theory generation: explaining the development of a theory of marketing ethics," AMS Review, Springer;Academy of Marketing Science, vol. 3(2), pages 61-73, June.
    13. Rajan Varadarajan, 2015. "Strategic marketing, marketing strategy and market strategy," AMS Review, Springer;Academy of Marketing Science, vol. 5(3), pages 78-90, December.
    14. 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.
    15. 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.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Athanasios Ioannis Arvanitidis & Vivek Agarwal & Miltiadis Alamaniotis, 2023. "Nuclear-Driven Integrated Energy Systems: A State-of-the-Art Review," Energies, MDPI, vol. 16(11), pages 1-23, May.
    2. O. C. Ferrell, 2018. "Marketing’s identity crisis: it’s complicated," AMS Review, Springer;Academy of Marketing Science, vol. 8(1), pages 30-38, June.
    3. Bruno Dyck & Rajesh V. Manchanda, 2021. "Sustainable marketing based on virtue ethics: addressing socio-ecological challenges facing humankind," AMS Review, Springer;Academy of Marketing Science, vol. 11(1), pages 115-132, June.
    4. O. C. Ferrell, 2021. "Addressing socio-ecological issues in marketing: environmental, social and governance (ESG)," AMS Review, Springer;Academy of Marketing Science, vol. 11(1), pages 140-144, June.
    5. Yanina Rashkova & Ludovica Moi & Francesca Cabiddu, 2024. "Addressing the Societal Challenges in Organizations: The Conceptualization of Mindfulness Capability for Social Justice," Journal of Business Ethics, Springer, vol. 189(2), pages 249-268, January.
    6. Rahman, Mahabubur, 2023. "The virtuous circle between green product innovation and performance: The role of financial constraint and corporate brand," Journal of Business Research, Elsevier, vol. 154(C).

    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. Pedro Chapaval Pimentel & Mariana Bassi-Suter & Simone Regina Didonet, 2024. "Brand activism as a marketing strategy: an integrative framework and research agenda," Journal of Brand Management, Palgrave Macmillan, vol. 31(2), pages 212-234, March.
    2. van Oosterhout, J. & Heugens, P.P.M.A.R., 2006. "Much Ado About Nothing: A conceptual critique of CSR," ERIM Report Series Research in Management ERS-2006-040-ORG, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
    3. Sara Rodriguez-Gomez & Maria Lourdes Arco-Castro & Maria Victoria Lopez-Perez & Lazaro Rodríguez-Ariza, 2020. "Where Does CSR Come from and Where Does It Go? A Review of the State of the Art," Administrative Sciences, MDPI, vol. 10(3), pages 1-19, August.
    4. Christian Felber & Vanessa Campos & Joan R. Sanchis, 2019. "The Common Good Balance Sheet, an Adequate Tool to Capture Non-Financials?," Sustainability, MDPI, vol. 11(14), pages 1-23, July.
    5. Antti Talonen & Iiro Jussila & Hannu Saarijärvi & Timo Rintamäki, 2016. "Consumer cooperatives: uncovering the value potential of customer ownership," AMS Review, Springer;Academy of Marketing Science, vol. 6(3), pages 142-156, December.
    6. Mara Del Baldo, 2012. "Corporate social responsibility and corporate governance in Italian SMEs: the experience of some “spirited businesses”," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 16(1), pages 1-36, February.
    7. Małgorzata Janicka & Aleksandra Pieloch-Babiarz & Artur Sajnóg, 2020. "Does Short-Termism Influence the Market Value of Companies? Evidence from EU Countries," JRFM, MDPI, vol. 13(11), pages 1-22, November.
    8. Patrick Velte & Martin Stawinoga, 2017. "Empirical research on corporate social responsibility assurance (CSRA): A literature review," Journal of Business Economics, Springer, vol. 87(8), pages 1017-1066, November.
    9. Filippo Vitolla & Nicola Raimo & Michele Rubino & Antonello Garzoni, 2019. "How pressure from stakeholders affects integrated reporting quality," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 26(6), pages 1591-1606, November.
    10. Ye Cai & Hoje Jo & Carrie Pan, 2012. "Doing Well While Doing Bad? CSR in Controversial Industry Sectors," Journal of Business Ethics, Springer, vol. 108(4), pages 467-480, July.
    11. Camélia Radu & Nadia Smaili, 2022. "Alignment Versus Monitoring: An Examination of the Effect of the CSR Committee and CSR-Linked Executive Compensation on CSR Performance," Journal of Business Ethics, Springer, vol. 180(1), pages 145-163, September.
    12. Larissa Shnayder & Frank J van Rijnsoever & Marko P Hekkert, 2015. "Putting Your Money Where Your Mouth Is: Why Sustainability Reporting Based on the Triple Bottom Line Can Be Misleading," PLOS ONE, Public Library of Science, vol. 10(3), pages 1-23, March.
    13. Ernest Reig‐Martínez & José A. Gómez‐Limón & Andrés J. Picazo‐Tadeo, 2011. "Ranking farms with a composite indicator of sustainability," Agricultural Economics, International Association of Agricultural Economists, vol. 42(5), pages 561-575, September.
    14. Liu, Xianda & Hou, Wenxuan & Main, Brian G.M., 2022. "Anti-market sentiment and corporate social responsibility: Evidence from anti-Jewish pogroms," Journal of Corporate Finance, Elsevier, vol. 76(C).
    15. 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.
    16. Giang N. T. Nguyen & Tapan Sarker, 2018. "Sustainable coffee supply chain management: a case study in Buon Me Thuot City, Daklak, Vietnam," International Journal of Corporate Social Responsibility, Springer, vol. 3(1), pages 1-17, December.
    17. Colicev, Anatoli & Kumar, Ashish & O'Connor, Peter, 2019. "Modeling the relationship between firm and user generated content and the stages of the marketing funnel," International Journal of Research in Marketing, Elsevier, vol. 36(1), pages 100-116.
    18. 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.
    19. Keke Bai & Farid Ullah & Muhammad Arif & Sahar Erfanian & Saima Urooge, 2023. "Stakeholder-Centered Corporate Governance and Corporate Sustainable Development: Evidence from CSR Practices in the Top Companies by Market Capitalization at Shanghai Stock Exchange of China," Sustainability, MDPI, vol. 15(4), pages 1-25, February.
    20. Katharina Spraul & Julia Thaler, 2020. "Partnering for good? An analysis of how to achieve sustainability-related outcomes in public–private partnerships," Business Research, Springer;German Academic Association for Business Research, vol. 13(2), pages 485-511, July.

    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:spr:amsrev:v:7:y:2017:i:1:d:10.1007_s13162-017-0090-y. 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: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    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.