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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 Hunt

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. Copyright Academy of Marketing Science 2015

Suggested Citation

  • 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.
    • Handle: RePEc:spr:jknowl:v:5:y:2015:i:3:p:61-77
    DOI: 10.1007/s13162-015-0069-5
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    Citations

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    Cited by:

    1. Marina Proença & Tomas Sparano Martins, 2024. "The role of absorptive capacity in the use of digital marketing analytics for effective marketing decisions," Journal of Marketing Analytics, Palgrave Macmillan, vol. 12(3), pages 687-700, September.
    2. 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.
    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. 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.
    5. 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.
    6. 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.
    7. 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.
    8. 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.
    9. 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.
    10. 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.
    11. Manjit S. Yadav, 2017. "Disciplinary memory and theory development," AMS Review, Springer;Academy of Marketing Science, vol. 7(1), pages 1-3, June.
    12. Rajan Varadarajan, 2015. "Strategic marketing, marketing strategy and market strategy," AMS Review, Springer;Academy of Marketing Science, vol. 5(3), pages 78-90, December.

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