Research in marketing strategy...marketing strategy—the central construct within the field of...

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REVIEW PAPER Research in marketing strategy Neil A. Morgan 1 & Kimberly A. Whitler 2 & Hui Feng 3 & Simos Chari 4 Received: 14 January 2018 /Accepted: 20 July 2018 # Academy of Marketing Science 2018 Abstract Marketing strategy is a construct that lies at the conceptual heart of the field of strategic marketing and is central to the practice of marketing. It is also the area within which many of the most pressing current challenges identified by marketers and CMOs arise. We develop a new conceptualization of the domain and sub-domains of marketing strategy and use this lens to assess the current state of marketing strategy research by examining the papers in the six most influential marketing journals over the period 1999 through 2017. We uncover important challenges to marketing strategy researchnot least the increasingly limited number and focus of studies, and the declining use of both theory and primary research designs. However, we also uncover numerous opportunities for developing important and highly relevant new marketing strategy knowledgethe number and importance of unanswered marketing strategy questions and opportunities to impact practice has arguably never been greater. To guide such research, we develop a new research agenda that provides opportunities for researchers to develop new theory, establish clear relevance, and contribute to improving practice. Keywords Marketing strategy . Strategic marketing . CMO marketing challenges . Research design . Review Introduction Developing and executing marketing strategy is central to the practice of marketing. Recent reports regarding the top chal- lenges facing marketers (Table 1) reveal numerous questions within the domain of marketing strategy including: (1) how to create organizational structures that better enable development of marketing strategies that help navigate and adapt to chang- ing customer and firm needs; (2) how to choose the optimal set of marketing strategies to drive outcomes given competing priorities and myriad internal and external stakeholders; and (3) how to lead enterprise-wide executives in developing and implementing strategies that create greater customer centricity and engagement. As a result of its centrality to practice, mar- keting strategy is also a key area of business school pedagogy, pivotal in marketing theory explanations of firm performance, and a focus of inquiry among academic researchers. However, while there has been a growing research interest in the general field of strategic marketing (i.e., marketing-related phenomena and decisions that are important to understanding the long-term performance of product/brands, SBUs, and firms), it is unclear how much of this research relates to marketing strategythe central construct within the field of strategic marketing. 1 Since developing and executing marketing strategy is cen- tral to what marketers do in practice, research germane to understanding these activities is key to establishing the 1 We follow Varadarjans (2010) distinction, using Bstrategic marketing^ as the term describing the general field of study and Bmarketing strategy^ as the construct that is central in the field of strategic marketingjust as analogically Bstrategic management^ is a field of study in which Bcorporate strategy^ is a central construct. Mark Houston served as Area Editor for this article. * Neil A. Morgan [email protected] Kimberly A. Whitler [email protected] Hui Feng [email protected] Simos Chari [email protected] 1 Kelley School of Business, Indiana University, 1309 E. Tenth St., Bloomington, IN 47405-1701, USA 2 Darden School of Business, University of Virginia, 100 Darden Boulevard, Charlottesville, VA 22903, USA 3 Ivy College of Business, Iowa State University, 3337 Gerdin Business Building, Ames, IA 50011-1350, USA 4 Alliance Manchester Business School, University of Manchester, Booth Street West, Manchester M15 6PB, UK Journal of the Academy of Marketing Science https://doi.org/10.1007/s11747-018-0598-1

Transcript of Research in marketing strategy...marketing strategy—the central construct within the field of...

Page 1: Research in marketing strategy...marketing strategy—the central construct within the field of strategic marketing.1 Since developing and executing marketing strategy is cen-tral

REVIEW PAPER

Research in marketing strategy

Neil A. Morgan1& Kimberly A. Whitler2 & Hui Feng3

& Simos Chari4

Received: 14 January 2018 /Accepted: 20 July 2018# Academy of Marketing Science 2018

AbstractMarketing strategy is a construct that lies at the conceptual heart of the field of strategic marketing and is central to the practice ofmarketing. It is also the area within which many of the most pressing current challenges identified by marketers and CMOs arise.We develop a new conceptualization of the domain and sub-domains of marketing strategy and use this lens to assess the currentstate of marketing strategy research by examining the papers in the six most influential marketing journals over the period 1999through 2017. We uncover important challenges to marketing strategy research—not least the increasingly limited number andfocus of studies, and the declining use of both theory and primary research designs. However, we also uncover numerousopportunities for developing important and highly relevant new marketing strategy knowledge—the number and importanceof unanswered marketing strategy questions and opportunities to impact practice has arguably never been greater. To guide suchresearch, we develop a new research agenda that provides opportunities for researchers to develop new theory, establish clearrelevance, and contribute to improving practice.

Keywords Marketing strategy . Strategic marketing . CMOmarketing challenges . Research design . Review

Introduction

Developing and executing marketing strategy is central to thepractice of marketing. Recent reports regarding the top chal-lenges facing marketers (Table 1) reveal numerous questionswithin the domain of marketing strategy including: (1) how to

create organizational structures that better enable developmentof marketing strategies that help navigate and adapt to chang-ing customer and firm needs; (2) how to choose the optimalset of marketing strategies to drive outcomes given competingpriorities and myriad internal and external stakeholders; and(3) how to lead enterprise-wide executives in developing andimplementing strategies that create greater customer centricityand engagement. As a result of its centrality to practice, mar-keting strategy is also a key area of business school pedagogy,pivotal in marketing theory explanations of firm performance,and a focus of inquiry among academic researchers. However,while there has been a growing research interest in thegeneral field of strategic marketing (i.e., marketing-relatedphenomena and decisions that are important to understandingthe long-term performance of product/brands, SBUs, andfirms), it is unclear how much of this research relates tomarketing strategy—the central construct within the field ofstrategic marketing.1

Since developing and executing marketing strategy is cen-tral to what marketers do in practice, research germane tounderstanding these activities is key to establishing the

1 We followVaradarjan’s (2010) distinction, using Bstrategicmarketing^ as theterm describing the general field of study and Bmarketing strategy^ as theconstruct that is central in the field of strategic marketing—just as analogicallyBstrategic management^ is a field of study in which Bcorporate strategy^ is acentral construct.

Mark Houston served as Area Editor for this article.

* Neil A. [email protected]

Kimberly A. [email protected]

Hui [email protected]

Simos [email protected]

1 Kelley School of Business, Indiana University, 1309 E. Tenth St.,Bloomington, IN 47405-1701, USA

2 Darden School of Business, University of Virginia, 100 DardenBoulevard, Charlottesville, VA 22903, USA

3 Ivy College of Business, Iowa State University, 3337 GerdinBusiness Building, Ames, IA 50011-1350, USA

4 Alliance Manchester Business School, University of Manchester,Booth Street West, Manchester M15 6PB, UK

Journal of the Academy of Marketing Sciencehttps://doi.org/10.1007/s11747-018-0598-1

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relevance of the academic discipline of marketing. Better un-derstanding the state of marketing strategy knowledge is alsoimportant for developing theoretical understanding in market-ing. For example, knowing what theories have been drawn onin past research and which aspects of marketing strategy havereceived little attention is a pre-cursor to any attempt to devel-op indigenous marketing theory. Systematic analyses of theuse of different research approaches and methods in a partic-ular domain, and how these have changed over time can alsouncover insights for the development of new approaches andmethods. As a result, periodic reviews of research in a domainare useful in consolidating knowledge and enabling cumula-tive knowledge development (e.g., Palmatier et al. 2018).

The last major review of research inmarketing strategywasundertaken by Varadarajan and Jayachandran (1999). Clearly,much has happened in the worlds of both practice and research

in the past twenty years, making the present study needed andtimely. This study therefore undertakes a comprehensive re-view of the strategic marketing literature since 1999, withthree specific objectives: (1) to develop a framework throughwhich to assess the current state of research conducted withinmarketing strategy; (2) to illuminate and illustrate the Bstate ofknowledge^ in core sub-domains of marketing strategy devel-opment and execution; and (3) to develop a research agendaidentifying aspects of marketing strategy that require greater.

In addressing these objectives, this study makes a numberof contributions to strategic marketing knowledge. First, weshow that marketing strategy research published in the majorjournals over the past 19 years (1999–2017) has primarilyfocused on either marketing tactics or marketing-related in-puts (resources and capabilities) to marketing strategy andtheir performance outcomes (both directly and under different

Table 1 Key marketing strategy challenges identified by CMOs

Strategy formulation(figuring out what to do)

Strategy implementation(doing it)

Strategy content(strategy decisions)

What is (or should be) the impact of shifting from aconsumer-centric to a multi-stakeholder and data-drivenmodel of marketing onmarketing’s strategic goals? (1, 2, 9)

What is the best way to evaluate and make decisions about thetrade-off between strategies that deliver short- vs. long-termmarketing impact? (6)

What does the changing nature of CMO/marketing’s role(e.g., digital, analytics, omni-channel) mean for whatmarketing strategy decisions are viable? (1, 7)

What should we insource vs. outsource (e.g., digital,analytics, CRM, creative content development, etc.) tobest accomplish different marketing strategy goals? (6)

What is the right allocation of resources (budgets andpeople) across traditional vs. new channels? (6)

What new marketing communication options open up ascommunication shifts from a 30-second ad world to alimitless content world (1, 6)

Strategy process(strategy making andstrategy realization)

How should marketing work with other functions and C-suiteleaders (especially COO, CFO, CIO, Chief Digital Officer)to figure out what marketing strategy options are possible?(1, 4, 8, 9)

What new approaches to developing brand strategy arerequired in a multi-stakeholder (vs. consumer centric)world? (9)

When and how should marketing Bmanage upwards^ (theCEO) to drive alignment to marketing strategy goals andstrategy choices? (1, 4, 7)

How can multi-touch attribution modeling be used to assessthe ROI outcomes of past marketing strategyimplementations to make better future marketing strategydecisions? (1, 3)

How can CMOs identify required talent for newmarketing responsibility areas to enable strategyimplementation (e.g., digital, analytics, technology,etc.)? (4,5, 9)

How can marketing effectively lead culture change toforce company adaptation to new consumer realitiesand technology? (1, 9)

What are the most effective mechanisms to monitor andcommunicate implementation results to drivecross-functional alignment, support, influence, andcredibility? (7)

How should CMOs measure, review, and holdaccountable managers in new areas of marketingresponsibility to drive effective strategyimplementation? (5)

Numbers in table refer to the following references: (1) Argyle Executive Forum (2014). The data-driven CMO. Retrieved July 27, 2017 from http://www.argylejournal.com/chief-marketing-officer/survey-reveals-the-data-driven-cmos-top-challenges-and-pain-points/; (2) CMG Partners (2016). CMO’sagenda: The CMO has arrived. Retrieved January 5, 2017 from; (3) Kador, J. (2011). CMOs: Good to great. Retrieved August 1, 2011 from http://chiefexecutive.net/cmos-good-to-great; (4) Korn Ferry (2017). CMO pulse survey. Retrieved July 19, 2016 from htttp://infokf.kornferry.com; (5)MacDonald, J. (2016). The top challenges of today’s CMO. Retrieved July 29, 2017 from https://thegood.com/insights/top-challenges-cmo/; (6)Nanji, A. (2015). CMOs’ top goals and challenges. Retrieved July 27, 2017 from http://www.marketingprofs.com/charts/2015/28066/cmos-top-goals-and-challenges; (7) Whitler and Morgan (2017). Why CMOs never last. Harvard Business Review, July–August, 45–54; (8) Whitler, K. A.,Boyd, D. E., &Morgan, N. A. (2017). The power partnership: CMO&CIO.Harvard Business Review, July–August, 55; (9) Yosie, T. F., Simmons, P. J.,&Ashken, S. (2016). Sustainability and themodern CMO: ANew ball to juggle—or a key to juggling smarter. Retrieved July 30, 2016 from http://www.corporateecoforum.com/wpcontent/uploads/2017/01/Sustainability-and-the-CMO_FINAL.pdf. Sustainability and the modern CMO: A New ball tojuggle—or a key to juggling smarter. Retrieved July 30, 2016 from http://www.corporateecoforum.com/ wp-content/uploads/2017/01/Sustainability-and-the-CMO_FINAL.pdf

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external and internal environmental conditions), with relative-ly little research in the core domain of marketing strategy. Ifour understanding of marketing strategy before 1999 had beencomplete—and no significant changes had occurred since thattime—this may not be a significant problem. However, clearlyneither of these conditions is true. The relative lack of atten-tion to marketing strategy during this period should be viewedas a particularly significant gap in marketing knowledge sincemarketing strategy is the central construct in the field of stra-tegic marketing and in practice marketers spend most of theirtime engaged in marketing strategy–related activities.

Second, we develop a new conceptualization of market-ing strategy, identifying four key sub-domains (i.e., formu-lation–content, formulation–process, implementation–con-tent, implementation–process). This provides a new frame-work that can be used to assess the state of the field, identifycritical knowledge gaps, and direct future research. In thisstudy, we use it as a lens with which to assess and calibratewhich marketing strategy sub-domains—and issues withineach domain—have received more or less attention. Forexample, we show that while marketing strategy implemen-tation appears to be an area of relatively strong researchcoverage, most studies in this sub-domain are marketing-mix models examining linkages between one or more mar-keting program elements and performance outcomes whilecontrolling for the remaining elements of a brand or firm’smarketing program. Conversely, we find that very few mar-keting strategy studies have focused on the processes bywhich marketing strategy is developed.

Third, building on such insights we identify a newresearch agenda for future marketing strategy research.Synthesizing existing knowledge within a domain ofinquiry and identifying research gaps is an importantstage of cumulative knowledge development in any field(e.g., Palmatier et al. 2018). Such cumulative knowledgebuilding in marketing strategy is essential since its cen-trality to marketing practice makes research in market-ing strategy of particular importance in establishing therelevance of academic research and its utility and legit-imacy to practicing managers. We therefore use rele-vance to practice as one of the lenses used to identifyand prioritize a new research agenda for marketingstrategy.

The paper is structured as follows. First, we develop a newintegrated conceptual model of marketing strategy to guideour review. Next, we describe the journal sample and reviewprocedure adopted. We then present and discuss the descrip-tive statistics arising from our review. Within the sub-domainsof marketing strategy identified, we next present exemplarstudies and briefly synthesize existing knowledge. We thendiscuss the implications of the review findings for marketingtheory and practice. Finally, we develop a research agenda forfuture research in marketing strategy.

Conceptualizing marketing strategy

A necessary first step in reviewing research in any do-main is to clearly establish its external boundaries andidentify important internal boundaries among sub-domains. Inaccomplishing this, we draw initially on Varadarajan’s (2010)exploration of the conceptual domain and definition ofmarketing strategy:

Marketing strategy is an organization’s integrated pat-tern of decisions that specify its crucial choicesconcerning products, markets, marketing activities andmarketing resources in the creation, communicationand/or delivery of products that offer value to customersin exchanges with the organization and thereby enablesthe organization to achieve specific objectives.(Varadarajan 2010, p. 119)

In line with this, the marketing literature broadly indi-cates that a firm’s marketing efforts impact its marketplaceand economic performance through the formulation and im-plementation of specific patterns of resource deploymentsdesigned to achieve marketing objectives in a target market(e.g., Katsikeas et al. 2016; Morgan 2012). This formula-tion–implementation dichotomy perspective suggests thatgoal-setting and marketing strategy development systemsare used as future-oriented decision-making frameworks todefine desired goals and identify and select marketing strat-egy options that may enable these goals to be accomplished,followed by a period of enactment in which firms seek tooperationalize the intended marketing strategy decisions toachieve the desired goals (e.g., Morgan et al. 2012; Nobleand Mokwa 1999; Piercy 1998).

From this perspective, marketing strategy formulation in-volves managers making explicit Bwhat^ decisions regardinggoals and the broad means by which they are to be accom-plished in terms of target market selection, required valueofferings and desired positioning, timing, etc. (e.g., Kerin etal. 1990; Slater and Olson 2001). Conversely, marketing strat-egy implementation concerns Bdoing it^ in terms of translat-ing these broad Bwhat^marketing strategy decisions into a setof detailed and integrated marketing tactics and accompany-ing these with appropriate actions and resource deploymentsto enact them (e.g., Slater et al. 2010; Varadarajan andJayachandran 1999). While the literature has consistently dis-tinguished between strategy formulation and implementation,both the marketing and strategic management literature alsosuggests that they are interdependent, with implementation(what a firm is able to do) shaping and constraining marketingstrategy content decisions over time (e.g., Cespedes 1991;Moorman and Miner 1998).

A second Bdichotomy^ evidenced widely in the strategicmanagement literature (e.g. Farjoun 2002; Mintzberg and

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Lampel 1999; Van de Ven 1992), and to a lesser extent in themarketing literature (e.g., Frankwick et al. 1994; Menon et al.1999; Walker Jr and Ruekert 1987), is between strategy con-tent and strategy process. From this perspective, marketingstrategy content concerns the specific strategic decisions(e.g., what and how many segments to target, what the firm’svalue proposition needs to be to achieve required sales) andintegrated tactical marketing program decisions (e.g., the re-quired sales-force incentive plan, channel selection and mer-chandizing platform design, marketing communication mediaselection) made. Conversely, strategy process concerns theorganizational mechanisms leading to these marketing strate-gy decisions (e.g., situation assessment, goal-setting, top-down vs. bottom up strategic planning process, planning com-prehensiveness) and those used to make and realize decisionsregarding how they are enacted (e.g., marketing mix planning,budgeting, internal communication, organization re-design,performance monitoring and control systems).

We use these two common Bdichotomies^ as a framework(see Fig. 1) for establishing the external boundaries of thedomain of marketing strategy and to identify important sub-domains within the marketing strategy construct.2 Identifyingthese sub-domains within the broad domain outlined inVaradarajan (2010) allows us to refine his original definitionof marketing strategy. We therefore define marketing strategyas encompassing the Bwhat^ strategy decisions and actionsand Bhow^ strategy-making and realization processesconcerning a firm’s desired goals3 over a future time-period,and the means through which it intends to achieve them by

selecting target markets and customers, identifying requiredvalue propositions, and designing and enacting integratedmarketing programs to develop, deliver, and communicatethe value offerings. We use this definition of marketing strat-egy and the sub-domains it encompasses in the conceptualframework developed as a lens through which to identifyand examine recent research inmarketing strategy (see Fig. 1).

Our new definition of marketing strategy also allows us toidentify and capture studies examining strategic marketingphenomena related to—but not directly encompassing—mar-keting strategy. As shown in Fig. 1, the most important cate-gories of these related phenomena deal with: (1) inputs tomarketing strategy including resources such as market knowl-edge, brand portfolios, financial resources, etc. and capabili-ties such as NPD, CRM, etc.; (2) outputs of marketing strategyincluding customer Bmind-set^ and behavior outcomes andmarketplace and economic performance; and (3) environmen-tal factors distinct from marketing strategy but that may im-pact marketing strategy phenomena and their relationshipswith other phenomena including internal factors such asorganizational culture, size, etc. and external factorssuch as market characteristics, technology turbulence,competitive intensity, etc.

Review of marketing strategy research

Method

Journal selection To ensure the representativeness and highquality of studies included in our review, we examined theten most influential marketing journals in Baumgartner andPieters’s (2003) study of journal influence, and identified thesix of these that publish research in the field of strategic

Fig. 1 Review framework

2 Following the strategic management literature (e.g., Mintzberg 1994; Pascale1984), marketing strategy has also been viewed from an Bemergent^ strategyperspective (e.g. Hutt et al. 1988; Menon et al. 1999). Conceptually this iscaptured as realized (but not pre-planned) tactics and actions in Figure 1.3 These may be at the product/brand, SBU, or firm level.

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marketing: Journal of Marketing (JM), Journal of MarketingResearch (JMR), Marketing Science (MKS), Journal of theAcademy of Marketing Science (JAMS), Journal of Retailing(JR), and Industrial Marketing Management (IMM). The re-maining four Btop ten^ journals are either not typical outletsfor strategic marketing research (Journal of ConsumerResearch, Management Science, and Advances in ConsumerResearch) or are managerial and provide little detail regardingtheory or research method (Harvard Business Review).We replaced the lowest ranked (10th) journal on thislist, Industrial Marketing Management (IMM), withInternational Journal of Research inMarketing (IJRM) as thisjournal has grown significantly in stature over the past 15 yearsand is now considered the top non-U.S. based marketing jour-nal (Kumar et al. 2017; Roberts et al. 2014).

Thus, we include six journals in this review: JM, JMR,MKS, JAMS, JR, and IJRM. We first obtained digital copiesof every article published in these six journals from their offi-cial websites during the 1999 thru 2017 period. Each articlewas examined (title, abstract, keywords, hypotheses/conceptual framework, etc.) and initially coded where appro-priate into one or more of the four broad categories shown inFig. 1 (i.e., marketing strategy, inputs, outputs, and environ-ment). Articles with Bmarketing strategy,^ Bstrategy,^ or anyother keywords or similar concepts listed in Fig. 1’s marketingstrategy conceptualization such as Bgoals,^ Bstrategic/market-ing planning,^ Bmarketing mix,^ Bintegrated marketingprogram,^ and Bsegmentation/targeting/positioning^ wereretained for further additional analysis.

Article selection criteria Four primary criteria were then usedto screen studies for inclusion in our analysis: (1) the focus ofthe study must be on strategy (vs. individual tactics) as spec-ified in Fig. 1, either as a primary objective or as part of awider research design; (2) the study should be of marketing(vs. purely management) phenomena; (3) the unit of analysisis at firm, SBU, brand or product level (or product or brandportfolios), rather than at individual level (e.g., salesperson orconsumer/customer); (4) the study was published during the1999–2017 period, after the last widely-cited review of mar-keting strategy was undertaken by Varadarajan andJayachandran (1999). To avoid Bdouble counting^we excludeempirical meta-analytic papers in our review sample.

We excluded tactical marketing papers that focus on-ly on one or two of aspects of the B4Ps^ marketingprogram (e.g., advertising or pricing) without at leastcontrolling for the other aspects of the marketing pro-gram. This is because, per our marketing strategy con-ceptualization, only studies dealing with (or at leastcontrolling for) all aspects of the marketing programcan provide useful strategic (vs. purely tactical) insights.We also excluded purely methodological papers such asstudies of new segment identification methods and

studies focusing on individual employee or consumerperceptions and purchase intentions. Finally, studies ex-amining industry-level development and strategy werenot included in our review.

Three experienced researchers independently examined allof the published articles to determine if it should be coded as amarketing strategy paper, with an accompanying rationale foreach paper’s inclusion or exclusion following the above fourcriteria. Average interrater agreement was 96%, and allremaining discrepancies were discussed to reach consen-sus. A total of 257 marketing strategy articles remainedin the review sample after this filtering process. Each ofthese papers was then further examined and coded ac-cording to the specific aspects of marketing strategycovered and the theory and methodological characteristicsof each study.

Coding procedure Following procedures recommended forliterature review papers (e.g., Katsikeas et al. 2016; Lipseyand Wilson 2001), we developed a protocol for coding eachof the key aspects of marketing strategy (i.e., first codingsingle aspects such as Bformulation^ vs. Bimplementation^and Bcontent^ vs. Bprocess^; then composite aspects such asBfo rmu la t ion–con ten t ,^ Bfo rmula t ion–proces s ,^Bimplementation–content,^ Bimplementation–process^, andBhybrid^). We first, created a document specifying the defini-tions, keywords, and examples for each aspect of market-ing strategy. Second, two experienced marketing strate-gy researchers independently coded a randomly selectedset of 60 articles (10 from each journal) using this draftprotocol to assess the accuracy and thoroughness of theevaluative criteria and made revisions and improvement.Third, we pretested the revised protocol using two ad-ditional expert judges, who independently evaluated an-other 10 randomly selected articles from each journal.Full agreement was attained, ensuring the accuracy andreliability of our coding scheme.

Three experienced researchers then coded each of the 257eligible articles, under the supervision of the lead investigator,who had extensive knowledge ofmarketing strategy and codingprocedures. Interrater agreement ranged from 86%–100%, andall discrepancies were discussed to reach consensus. Finally, thelead investigator also coded another 10 randomly selected arti-cles from each journal, and the results were fully consistent withthose of the three coders, enhancing confidence in the reliabilityof the evaluation procedure in this study.

Following this, two experienced researchers also coded thekey theory and methodological characteristics of each study interms of: (1) the primary research approach of paper (i.e.,conceptual/qualitative/empirical/analytical); (2) data type(i.e., primary, secondary or both) for empirical papers; (3) dataanalysis approach (analytical, regression, time series, structur-al equation modelling-SEM etc.); and, (4) argumentation

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approach (e.g., single theory, multiple theories, concep-tual development/grounded theory, and logic or data-driven approaches) following a coding scheme.Interrater agreement on this coding was high (97%).

Descriptive analysis of marketing strategy papers

As defined in Varadarajan (2010), Bstrategic marketing^refers to the general field of study, while Bmarketingstrategy^ refers to the organizational strategy construct thatis the principal focus of the field. Thus, while all marketingstrategy–focused papers are within the field of strategicmarketing, not all strategic marketing research concernsmarketing strategy.We follow this distinction. For example,in their study examining the influence of research in thefield of strategic marketing Kumar et al. (2017) focus onpapers that examine all strategic marketing issues, deci-sions, and problems, which include but is not limited tomarketing strategy. Conversely, our study focuses on re-search examining issues that fall within the more specificdomain of marketing strategy (Fig. 1), which is the con-struct at the heart of the conceptual domain of the field ofstrategic marketing (Varadarajan 2010), and is where mostCMOs and marketers spend most of their time and effort inpractice.

To provide insight into the relative frequency of differenttypes of marketing strategy–related research we also identifiedand coded papers that do not focus directly on marketingstrategy but do focus on the related areas of (1) inputs tomarketing strategy, (2) outputs of marketing strategy, and (3)environmental factors (internal and external to the firm) thatmay affect marketing strategy and its relationship with otherphenomena. These include studies focusing, for example, onthe impact of possession of marketing-related resources/capabilities on performance, the value of internal environmen-tal factors such as organizational culture, or the role of externalfactors such as market dynamism on the marketing capability-performance relationship. We also coded studies focusing onrelationships involving individual tactical actions coveringspecific marketing mix elements (without directly controllingfor the remaining marketing mix areas). For example, Bruce etal. (2012) examined the impact of word of mouth and adver-tising on demand. Following Fig. 1, this was therefore codedas a study of a specific marketing tactic rather than within thedomain of marketing strategy.

As summarized in Table 2, almost 95% of the paperspublished in the six most influential journals publishingstrategic marketing research during the 1999–2017 periodare Bnon-strategy^ papers (i.e., they do not examine phe-nomena within the marketing strategy domain delineatedin our review framework—even though some of theseexamine phenomena that are within the general field ofstrategic marketing). In fact, the largest category of papers

published in these journals (36%) contains studies of mar-keting tactics that examine one or two individual market-ing program elements such as advertising (e.g., Fang et al.2016), product and price (e.g., Slotegraaf and Atuahene-Gima 2011; Steiner et al. 2016), channel (e.g., Gooner etal. 2011; Samaha et al. 2011), and selling (e.g., Gonzalezet al. 2014; Harmeling et al. 2015) without examining orexplicitly controlling for the remaining marketing mixelements.

The second largest category of papers published in thesejournals during this period (15%) deal with marketing strat-egy–related inputs (6%) (e.g., marketing resources and ca-pabilities) (e.g., Grewal et al. 2013; Luo and Homburg2008), outputs (9%) (positional advantages and perfor-mance outcomes) (e.g., Katsikeas et al. 2016; Morgan andRego 2006; Rego et al. 2013), or both (e.g., Gonzalez et al.2014; Homburg et al. 2011; Rego et al. 2009). A further 6%of all papers published in these journals focus on internal(i.e., organizational) (e.g., Samaha et al. 2014) or external(e.g., market, technology) environmental phenomena (e.g.,Song et al. 2008: Varadarajan et al. 2008)—with the major-ity focusing on external versus internal environmental fac-tors (262 vs. 40 papers).4

While not by a large margin, research on marketing strate-gy (as delineated in Fig. 1) comprises the smallest number(less than 6% of all published papers) of the different typesof strategic marketing papers coded in our review across thesix journals we examine (vs. Tactics, Internal/ExternalEnvironment, Inputs, and Outputs). However, we also observelarge variance across the journals covered. Notably, JM(9.8%) and JAMS (8.6%) are the outlets for a much higherpercentage of marketing strategy papers as a percentage ofall the papers they publish than the remaining fourjournals—and jointly published the majority (57%) of thecombined total marketing strategy papers published acrossthe six journals. More specifically, as shown in Fig. 2, duringthis period JM published the greatest number of marketingstrategy studies (n = 81 or 32% of the combined total acrossthe six journals), followed by JAMS (n = 63 or 25%).However, the trend lines showing the ratio of marketing strat-egy versus all other types of papers published in each of thesix journals over the 1999–2017 period are clearly down-wards. This trend line is particularly steep for JM, with

4 These strategic marketing but Bnon-strategy^ coding areas are not mutuallyexclusive. For example, many papers in this non-strategy category cover bothinputs/outputs and environment (e.g., Kumar et al. 2016; Lee et al. 2014;Palmatier et al. 2013; Zhou et al. 2005), or specific tactics, input/output, andenvironment (e.g., Bharadwaj et al. 2011; Palmatier et al. 2007; Rubera andKirca 2012).0 The relative drop in marketing strategy studies published in JM may be afunction of the recent growth of interest in the shareholder perspective(Katsikeas et al. 2016) and studies linking marketing-related resources andcapabilities directly with stock market performance indicators. Such studiestypically treat marketing strategy as an unobserved intervening construct.

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Table2

Marketin

gstrategy

andrelatedstrategicmarketin

gpaperscountsum

mary(1999–2017)

Journals

A:S

trategypapersn

(%of

totalstrategy

paperspublished)

B:S

trategypapers

n(%

oftotal

papersjournal

published)

Marketin

gstrategy

form

ulation

Marketin

gstrategy

implem

entatio

n

Marketin

gstrategy

content

Marketin

gstrategy

process

Inputs

Outputs

Environment

(external:

internal)

Individual

marketin

gtactics

(%of

totalpapers

journalp

ublished)

JM81/257

(31.5%

)81/826

(9.8%)

3857

4944

90151

55(49:9)

347/826(42.0%

)

MKS

31/257

(12.1%

)31/886

(3.5%)

922

247

2057

53(52:1)

420/886(47.4%

)

JMR

41/257

(16.0%

)41/1020

(4.0%)

1530

368

4565

33(30:5)

338/1020

(33.1%

)

JAMS

63/257

(24.5%

)63/730

(8.6%)

3147

3735

85102

68(60:17)

251/730(34.4%

)

IJRM

27/257

(10.5%

)27/624

(4.3%)

1022

1714

3242

55(51:8)

177/624(28.4%

)

JR14/257

(5.4%)

14/597

(2.3%)

610

103

1425

20(20:0)

159/597(26.6%

)

Total

257

(100%)

109

188

173

111

286

442

284(262:40)

1692

Relativeto

allp

apers

publishedin

these

journals(n=4683)

257/4683

=5.5%

2.3%

4.0%

3.7%

2.4%

6.1%

9.4%

6.1%

36.1%

Strategy

papernvalues

indicatethenumberof

strategy

articlesfrom

each

journalincluded

intheanalysisbasedon

thesearch

term

sused.To

talnumberof

paperspublishedin

each

ofthesejournals

(excluding

edito

rials,book

review

ers,specialissue

introductio

nsetc.)during

1999–2017period

(JM

=826,MKS=886,JM

R=1020,JAMS=730,IJRM

=624,JR

=597).P

aperscodedas

Bmarketin

gstrategy^(formulation,im

plem

entatio

n,content,process)areexclusivefrom

allothertypesof

non-strategy

coding

(input,output,environm

ent,andindividualtactics)butcan

becodedas

covering

more

than

onesub-domainof

marketin

gstrategy.S

imilarly,strategicmarketin

gbutn

on-strategypapersmay

becodedas

covering

morethan

onenon-strategy

area

(e.g.,input,output,tactics,etc.)

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JAMS averaging a higher ratio of marketing strategy versusother types of papers published than JM over the past eightyears (2010–2017).5

Table 2 suggests some balance across the individual as-pects (i.e., formulation vs. implementation and process vs.content) covered in the marketing strategy research studieswe identify. However, the more granular breakdown inTable 3, categorizing the marketing strategy papers publishedby the four sub-domains of marketing strategy (i.e., formula-tion–content, formulation–process, implementation–content,implementation–process; capturing papers covering morethan one sub-domain as Bhybrid^) in our framework, revealsa clear dearth of research in the formulation–process sub-do-main. This may be due to the lack of secondary data on such

difficult-to-observe phenomena. Published papers in this do-main therefore tend to be conceptual or use qualitative, survey,or other primary data collection methods.

While Bprocess^ papers in the implementation sub-domainalso deal with difficult-to-observe phenomena, there are agreater number of studies in this sub-domain as researchersare able to use secondary marketing mix data along withpolicy and field experiments to build normative models ofhow managers can make and execute marketing programdecisions. For example, Sun and Li (2011) used call historyfrom a DSL service to show how firms can learn fromcustomer-call center interactions to improve resource alloca-tion decisions, and Petersen and Kumar (2015) conducted alarge-scale field experiment to investigate product return data

Table 3 Primary domain of published marketing strategy research by journal

Journals Total strategy papersin each journal

Formulation–Content

Formulation–Process

Implementation–Content

Implementation–Process

Hybrid

JM 81 (100%) 17 (21.0%) 6 (7.4%) 17 (21.0%) 22 (27.2%) 19 (23.5%)

MKS 31 (100%) 6 (19.4%) 3 (9.7%) 18 (58.1%) 4 (12.9%) 0 (0.0%)

JMR 41 (100%) 11 (26.8%) 0 (0.0%) 18 (43.9%) 5 (12.2%) 7 (17.1%)

JAMS 63 (100%) 9 (14.3%) 5 (7.9%) 16 (25.4%) 15 (23.8%) 18 (28.6%)

IJRM 27 (100%) 5 (18.5%) 0 (0.0%) 7 (25.9%) 9 (33.3%) 6 (22.2%)

JR 14 (100%) 4 (28.6%) 0 (0.0%) 5 (35.7%) 2 (14.3%) 3 (21.4%)

Total 257 52 (20.6%) 14 (5.5%) 81 (31.5%) 57 (22.2%) 53 (20.6%)

Values indicate the number of strategy articles in each sub-domain from each journal. Percentages indicate the number of strategy papers in each sub-domain from each journal divided by the total number of strategy papers in each journal

0.00%

5.00%

10.00%

15.00%

20.00%

25.00%

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

JM JAMS JMR IJRM MktgSci J Retailing

Fig. 2 Marketing strategy papers published by journal

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and develop a process by which managers can make bettermarketing resource allocations.

Table 3 also suggests that while JM and JAMS tend topublish studies within and across all four sub-domains of mar-keting strategy, the other three journals tend to skew toward oraway from certain sub-domains. For example, 58% of themarketing strategy papers published inMKS and 44% of thosein JMR during this period have been in the implementation–content area. This is mainly a result of marketing mix model-ing studies being located in this sub-domain of marketingstrategy research. Conversely, MKS published no hybrid pa-pers, and JMR, IJRM, and JR published no papers in the for-mulation–process sub-domain of marketing strategy.

As shown in Table 4, the vast majority (202) of the 257marketing strategy papers in our sample are empirical in na-ture, with some balance between primary (109) and secondary(78) data used, but few (15) using both primary and secondarydata. However, an examination of the numbers by year indi-cates a recent decrease in the use of primary data and increas-ing use of secondary data. Table 4 further reveals the relativelysmall number of conceptual/theoretical (35), qualitative (8),and analytical (12) marketing strategy studies published inthe six journals since 1999. To the extent that empirical paperstend to test existing theory, and conceptual and qualitativeapproaches are more often used to develop theory, this sug-gests that theory development in published marketing strategy

research is rare. While the numbers of papers published byyear are small in each of these areas, an examination of thenumbers by year since 1999 generally indicate a growth in theproportion of papers that are empirical and a drop-off in thenumber that are conceptual/theoretical. We also observe somevariation across the six journals in this realm, with JM andJAMS dominating conceptual/theoretical work in marketingstrategy theory development and publishing a greater numberof qualitative papers (while still very few in number) thananalytical papers in the theory-building domain.

For the non-conceptual/theoretical and qualitative paperspublished, we also coded the primary analysis approach used(Table 5). This shows that regression-based analysis modelsdominate, with structural equation modeling (SEM) ap-proaches a distant second. While time-series models are usedless frequently overall, an examination of the by year numbersindicate that their use is increasing over time (in line withgrowing use of secondary data). We also observe a recentrelative decline in the use of SEM (in line with the recentrelative decrease in the use of primary data noted above).

To provide insight into the nature of the theoretical ap-proaches adopted in the marketing strategy research in our sam-ple, we also coded and analyzed the argumentation approachi.e. rationale used to identify the marketing strategy phenomenaand variables examined and/or develop hypotheses regardingexpected relationships between them, used in each study.

Table 4 Summary of strategy papers types (1999–2017)

Journals Strategypapers total

Conceptual /theoretical

Qualitative Analytical Empirical Empirical:primary data

Empirical:secondary data

Empirical: primaryand secondary

JM 81 8 5 2 66 38 21 7

MKS 31 0 0 4 27 4 22 1

JMR 41 0 0 3 38 11 22 5

JAMS 63 24 2 0 37 30 7 0

IJRM 27 0 1 2 24 20 4 0

JR 14 3 0 1 10 6 2 2

Total 257 35 8 12 202 109 78 15

Values indicate the number of strategy articles from each journal included in the analysis based on the search terms used

Table 5 Summary of top fourmethods used in marketingstrategy papers (1999–2017)

Journals Strategy papers total Analytical models Regression models Time series models SEM

JM 81 2 50 9 20

MKS 31 4 16 13 0

JMR 41 3 28 13 7

JAMS 63 0 26 3 14

IJRM 27 2 15 1 9

JR 14 1 8 2 2

Total 257 12 143 41 52

Values indicate the number of strategy articles from each journal included in the analysis based on the search termsused. More than one method may be coded per paper

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Specifically, following a review of the papers in our sample wecoded each as: (1) adopting a single theory lens; (2) usingmultiple theories (typically in the development of hypotheses);(3) developing theory through a grounded approach and/or con-ceptual development; or (4) using atheoretical logical argumen-tation (usually in primarily data-driven studies).

Table 6 shows the use of these four approaches overall andalso within the four primary sub-domains of marketing strat-egy. Overall, the most commonly-used is the logic and data-

driven approach (48%), used disproportionately in the formu-lation–content and implementation–content domains (seeTable 6). Collectively, the remaining three approaches—eachof which is more theoretical—are used only slightly morefrequently. Thus, close to half of all published marketing strat-egy research in our sample is largely atheoretical in nature.However, examining trends in the by year data (as shown inFig. 3) indicates some evidence of (1) a general shift awayfrom theory development using grounded approaches and/or

Table 6 Argumentation approach in published strategy papers by sub-domain

Single theory Multiple theories Conceptual development /grounded theory

Logic, data-driven

Formulation–Content(n = 52)

11(20.8%)

1(1.9%)

10(19.2%)

30(57.7%)

Formulation–Process(n = 14)

2(14.3%)

2(14.3%)

4(28.6%)

6(42.8%)

Implementation–Content (n = 81) 11(13.6%)

9(11.1%)

9(11.1%)

52(64.2%)

Implementation–Process (n = 57) 16(28.1%)

10(17.5%)

11(19.3%)

20(35.1%)

Hybrid (n = 53) 14(26.4%)

11(20.8%)

13(24.5%)

15(28.3%)

Total (n = 257) 54(21.0%)

33(12.8%)

47(18.3%)

123(47.9%)

Percentages indicate the number of strategy papers using each argumentation approach in each sub-domain divided by the total number of strategy papersin each sub-domain and for overall total, divided by the total number of strategy papers published in this period (n = 257)

Fig. 3 Argument approach trends

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conceptual development to data-driven approaches and (2) agrowing proportion of studies using multi- versus single-theory lenses. The increasingly small numbers of marketingstrategy papers developing new theory and/or conceptualframeworks may not be a cause for concern if there was al-ready a strong base of indigenous marketing strategy theory.However, this is obviously not the case. In addition, there isarguably an even greater need for new theory in light of thedramatic changes in the marketing landscape driven by tech-nology developments and usage in the recent past.

To provide greater insight into the specific theories beingmost often used to identify phenomena on which to focus inaddressing marketing strategy research problems, and to

predict relationships among constructs/variables identified,we also examined the specific theories used in studiesemploying a single-theory lens. This produced a list of almost60 different theories employed (Table 7). The majority ofthese (69%) were used only in a single marketing strategystudy published in this period. Only nine theories were usedin five or more marketing strategy studies: InstitutionalTheory, Resource-based View, Agency Theory, ContingencyTheory, Performance Feedback Theory, OrganizationalTheory, Configuration Theory, Organizational LearningTheory, and Structure-Conduct-Performance Theory.Interestingly, this suggests that while theories from psy-chology and economics dominate behavioral and model-ing research in marketing respectively, recent marketingstrategy research draws mainly on strategic managementtheories, with some sociological (e.g., InstitutionalTheory) and economic (Agency Theory, Structure-Conduct-Performance) theory influences.

Illustrative research in domains of marketingstrategy

To provide insight into the types of research and knowledgeoutputs that have been typical in the different sub-domains ofmarketing strategy, we next identify the most commonly stud-ied topics and discuss exemplar studies in each of the fourmarketing sub-domains as well as some Bhybrid^ studies thatcapture more than one sub-domain. We also provide somehigh-level synthesis overview of overall knowledge in eacharea. Table 8 shows the most frequently studied topics in eachof the four sub-domains of marketing strategy in the 257 pub-lished marketing strategy papers that we identified, andTables 9, 10, 11, 12 and 13 details illustrative studies withineach sub-domain, as well as some that cross sub-domains.

Formulation–content research

The strategy formulation–content sub-domain concerns thespecific goals that a marketing strategy is designed to deliverand the major broad strategic decisions concerning how theseare to be achieved. The most frequently studied issue in thissub-domain—examined in more than a quarter of all pub-lished studies—involves the intended (planned) strategy pur-sued by a SBU or firm. Studies of this issue have primarilyused existing strategy typologies from the management liter-ature (e.g., Miles & Snow’s Strategic Archetypes, Porter’sGeneric Strategies) and primary survey research designs. Forexample, Slater et al. (2007) examined how the type of strat-egy pursued by a firm (Prospectors, Analyzers, Low CostDefenders, Differentiated Defenders) affects the firm’s subse-quent choice of target market and behaviors and its perfor-mance outcomes. Among other results, they show that

Table 7 Single-lens theories applied in marketing strategy research

Institutional Theory Entry Deterrence Theory

RBV Equity Based CompensationTheory

Agency Theory Escalation of CommitmentTheory

Contingency Theory Evolutionary Economics

Feedback Theory Financial Portfolio Theory

Organizational Theory First-Mover Theory

Configuration Theory Game Theory

Organizational Learning Theory /Learning Theory / CollectiveLearning Theory

Growth Theory

Upper Echelons Theory Homophily Theory

Open Systems Theory Industrial Organization /Economics Theory

Social Identity Theory Inertia Theory

Transaction Cost Economics Information Processing Theory

Control Systems Theory /Control Theory

Innovation Adoption Theory

Dynamic Capabilities Theory Internal Processing AlgorithmsTheory

Information Economics Theory Justice (distributive,procedural, interactional)

Knowledge Theory Modernization Theory

Organizational Structure / Design Network Externality Theory

Social Exchange Theory Option Theory

Allocation Theory Perception Theory

Attribution Theory Power

Behavioral Theory of the Firm Prospect Theory

Boundary Theory Resource Dependence Theory

Cognitive Approach(Mental Models)

Structure-Conduct-Performance/IO

Collective Selection Theory Self-Categorization Theory

Complementarity Theory Signaling Theory

Customer Value Theory Social Capital Theory

Diffusion Theory Stakeholder Theory

Endogenous Growth Theory Strategic Contingencies Theory

Strong Culture Theory Strategic Reference Points

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Prospectors perform better when they target innovator andearly adopter customers and exhibit technology-oriented be-haviors and worse when they target early majority customers.Meanwhile Analyzers perform better when they target earlyadopters and early majority customers and exhibit competitor-oriented behaviors. Overall, results of this and similar researchshow that decisions regarding intended strategy choices gen-erally only explain performance outcomes to the extent thatfirm’s marketing program choices and behaviors are consis-tent with the intended strategy.

However, some empirical research on this issue examinesrealized (vs. planned) strategy to identify strategy content deci-sion(s). For example, Chandy and Tellis (2000) observed thetypes of innovations (radical or incremental) launched by a firmto identify the firm’s marketing strategy content and examinethe relationship between these marketing strategy innovationcontent decisions and firm size. In contrast to prior assumptions,they show that: (1) large firms engage in radical innovation (anddo so more than smaller firms) and (2) the Bincumbent’s curse^(tendency to shift to more incremental innovations as firmsbecome bigger and more established) varies across countriesand over time. Similarly, Mizik and Jacobson (2003) use theproportion of a firm’s expenditures allocated to R&D versusAdvertising to infer firms’ Bstrategic emphasis^ toward valuecreation versus value capture as routes to achieving desiredstrategic goals. They find that investors reward resource shiftstoward R&D and away from Advertising.

Our analyses also reveal that in the strategy formulation–content domain, there has been much less focus on studyingthe goals that marketing strategies are designed to achieve. Inone recent example of such work, Spyropoulou et al.(2018)examine the extent to which an SBU’s strategic goal to estab-lish a differentiated and/or cost-based advantage determinesthe subsequent achievement of such positional advantages at alater point in time. They find that while setting differentiationgoals aids their subsequent achievement the same is not truefor cost goals, and that market-based knowledge, marketingcapabilities, and external market characteristics moderate themarketing strategy goal–positional advantage achieved rela-tionship. This is consistent with work on strategy decisioncontent in suggesting that goals are linked to outcomes tothe extent that firm resources, capabilities, and behaviors arealigned with the strategy content decisions and implementa-tion requirements of the selected goals.

Formulation–process research

The marketing strategy formulation–process sub-domain con-cerns the mechanisms used to develop marketing strategygoals and identify and select the broad strategic means (i.e.,market target(s), required value proposition, desired position-ing, timing) by which these goals should be accomplished.With less than 6% of the published marketing strategy studiesin our sample focusing on how managers develop marketing

Table 8 Most frequently studied topics within marketing strategy sub-domains

Strategy formulation(figuring out what to do)

Strategy implementation(doing it)

Strategy content (strategydecisions)

Themes Percentage Themes Percentage

Strategy type 28.6% Marketing mix activities / tactics 49.2%

Value proposition / positioning 23.4% Other marketing actions / behaviors 16.4%

Target market(s) selected 13% Resources deployed / allocated 10.9%

Timing 10.4% Alignment (degree / level / type) 7.8%

Radical / Incremental innovation 6.5% Performance review / monitoring 7.8%

Strategic emphasis 6.5% Other (e.g., responsibilities assigned,brand portfolio choices)

7.8%

Business model design 5.2%

Other (e.g., strategic goals, market entry) 6.5%

Strategy process (strategymaking and strategyrealization)

Themes Percentage Themes Percentage

Marketing strategy making 41% Organization design / structuring 24.5%

Market analysis 15.4% Process capability design 18.1%

Performance assessment / review 10.2% Resource deployment process 14.9%

Situation analysis 10.2% Performance monitoring / control 13.8%

Target market / customer selection 7.7% Alignment process / mechanisms 10.6%

Other (e.g., strategy selection tools,gaining alignment in choices)

15.4% Inter-functional interactions 9.6%

Other (e.g., strategy change process,situation assessment)

8.5%

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Table9

Representativemarketin

gstrategy

form

ulation–contentstudies

(illu

strativ

eexam

ples)

Author(s)(journal)

Papertype

Theoryapproach

Data/analysis

Primarythem

eAim

/objectiv

eKey

findings

Alden

etal.1999(JM)

Empirical

Single-theorylens

Prim

arysurvey:scale

developm

entand

testing

Value

proposition

/posi-

tioning

Todevelopandtestanewconstruct,

globalconsum

ercultu

repositio

ning

(GCCP)

asaposi-

tioning

tool.

The

authorsdevelopanewconstruct—

globalconsum

ercultu

repositio

ning

(GCCP)—as

apositioning

tool,and

find

thata

meaningfuln

umberof

advertisem

entsem

ploy

GCCP,as

opposedto

positioning

thebrandas

amem

berof

alocal

consum

ercultu

reor

aspecificforeignconsum

ercultu

re.

ChandyandTellis2000

(JM)

Empirical

Data-driven

Secondarydata:regression

models

Radical/incrementalp

rod-

uctinnovation

Toreexam

inetheincumbent’scurse

usingahistoricalanalysisof

arelativ

elylargenumberof

radical

innovatio

nsin

theconsum

erdurables

andoffice

products

categories.

Empirically

exam

ines

theBincum

bent’scurse^—abeliefthat

large,incumbent

firm

srarely

introduceradicalp

roduct

innovatio

nsandinsteadsolidifytheirmarketp

ositionswith

relativ

elyincrem

entalinnovations,w

hilesm

allfirmsarethe

ones

thatprim

arily

createradicalinnovations.P

resent

evidence

suggestin

gtheincumbent’scurseisbasedon

anecdotesandscatteredcase

studiesof

highly

specialized

innovatio

ns.R

esultsindicatethatsm

allfirmsand

non-incumbentsareslightly

morelik

elyto

introduceradical

productinnovations

than

largefirm

s/incumbents.How

ever,

thepattern

hasshiftedrecently.L

arge

firm

sandincumbents

aresignificantly

morelik

elyto

introduceradicalinnovations

than

theircounterparts.T

hus,theresults

indicatethatthein-

cumbent’scurseapplies—

buttoan

oldereconom

icperiod.

Varadarajan

andYadav

2002

(JAMS)

Conceptual

Conceptual

developm

ent

N/A

Strategy

type

(com

petitive)

Todefine

thedomainof

marketin

gstrategy

andprovideaconceptual

fram

eworkthatdefinesthe

antecedentsandconsequences

ofmarketin

gstrategy

inboth

the

electronicandphysicalmarkets.

Com

petitivemarketingstrategy

isuniquelyfocusedon

howa

businessshoulddeploy

marketingresourcestoachievepositional

advantages

inthemarketplace.D

evelopsaconceptual

fram

eworkdelineatingthedriversandoutcom

esof

marketing

strategy

inthecontextofcompetinginboththephysicaland

electronicmarketplaces.The

proposed

fram

eworkprovides

insightsintochangesinthenatureandscopeof

marketing

strategy;specific

industry,product,buyer,and

buying

environm

entcharacteristics;andtheunique

skillsandresources

ofthefirm

thatassumeaddedrelevanceinthecontextof

competingintheevolving

marketplace.

Frambach

etal.2

003

(IJR

M)

Empirical

Conceptual

developm

ent

Prim

arysurvey:regression

models

Strategy

type

(cost,

differentiatio

n,focus)

Tounderstand

theinteraction

betweenbusiness

strategy

and

marketo

rientatio

non

new

productactivity.

Developsafram

eworklin

king

firm

s’relativ

eem

phasison

cost

leadership,productdifferentiatio

n,andfocusstrategies

tofirm

s’custom

erandcompetitor

orientationas

wellastheir

newproductdevelopmentand

introductio

nactiv

ity.F

indings

indicatethatagreateremphasison

afocusstrategy

results

ina

decreasedem

phasison

custom

erorientationandthat

competitor

orientationhasanegativ

edirectinfluenceon

new

productactivity

andan

indirectpositiv

eeffectviacustom

erorientation.

Choiand

Coughlan

2006

(JR)

Analytical

Data-driven

Analyticaleconom

icmodels

Value

proposition

/posi-

tioning

Todeterm

inehowaretailer

canbestpositio

ntheirprivate

labelp

roductsin

term

sof

quality

andfeatures

whencompetin

gagainsttwonatio

nalb

rands.

Aprivatelabel’s

bestpositio

ning

strategy

dependson

thenature

ofthenatio

nalbrands’competitionandits

ownquality.W

hen

thenatio

nalb

randsaredifferentiated,ahigh

quality

private

labelshouldbe

positionedclosertoastrongernationalbrand,

andalowquality

privatelabelshouldbe

positio

nedclosertoa

weakernatio

nalb

rand.W

henthenatio

nalb

randsare

undifferentiated,theprivatelabeld

ifferentiatesfrom

both

natio

nalb

rands.

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strategies, this is the least investigated of the four major sub-domains of marketing strategy—and by a big margin. As seenin Table 8, by far the most frequently studied aspect of mar-keting strategy formulation–content in the relatively few pub-lished studies has been the marketing strategy making (MSM)process. For example, Menon et al. (1999) used a discovery-based approach including qualitative and survey-basedmethods to conceptualize and develop measures of theMSM process, and primary data to empirically examine itsantecedents and consequences. They find that innovative cul-ture is an antecedent of MSM and that different elements ofMSM have differing impact on outcomes.

More broadly within the MSM area of this sub-domain,much of the research that has been published is conceptualin nature. This may be because disentangling and assessingdifferent aspects of the MSM process requires data beyondsecondary sources, using primary collection approaches suchas interviews, surveys, observation, and other mechanisms.One conceptual marketing strategy formulation–process pa-per, is the study by Dickson et al. (2001). This study identifiesand develops dynamic, mental model mapping techniques formarketing strategy development. The authors contend that inthe MSM process, executives should view the market as amoving video rather than the common practice of viewing itas a static snapshot. The study provides a normative process tohelp marketing executives improve their marketing strategydecision-making in this way.

While many papers in this domain are conceptual in nature,in an example of a novel empirical approach to understandingmarketing strategy decision-making process, Montgomery etal. (2005) conduct three studies to assess the degree to whichmanagers attempt to predict competitive reactions (strategiccompetitive reasoning) in making marketing strategy deci-sions. In the first, students interviewed managers involved ina strategic decision to understand the degree to which theyemployed strategic competitive reasoning in their delibera-tion. In a second study, they assess whether the results gener-alize by asking executives to make decisions in a simulatedcontext. In study three, executives were asked to review andassess the accuracy of the results observed in the first twostudies. The authors find that there is a relatively low use ofstrategic competitive reasoning in the MSM process due toseveral factors including: low perceived returns from antici-pating competitive reactions, difficulty in accessing competi-tive information, and uncertainty in being able to accuratelypredict competitive behavior. With little empirical researchconducted in the strategy–process domain, this type of novelapproach to data collection provides an interesting roadmap.

Implementation–content research

In contrast to strategy formulation–content, which focuses onthe direction and broad strategic choices leaders select toachieve desired outcomes, the strategy implementation–con-tent sub-domain concerns the detailed integrated marketingprogram tactics decisions taken, and actions and resource de-ployments to convert these into a concrete set of realized ac-tions. As shown in Table 8, almost half of the published workin this sub-domain has focused either on developing analyticalmodels or using secondary data and marketing mix modelingto understand the performance impact of marketing programdecisions.6

Given the nature of the types of research most commonlyconducted in this domain, it is difficult to synthesize as it tendsto be contingent. For example, Hauser and Shugan (2008)develop models to identify a firm’s optimal profit maximizingdecisions in response to a rival’s new product launch. Theyfind that under specific conditions and assumptions, it isoptimal to decrease investment in driving awareness,decrease distribution expenditures, and to potentiallyincrease price. In another example, Bruce et al. (2012) con-struct a dynamic linear model to study the effects of two mar-keting program tactics (word of mouth and advertising) ondemand for different products across different launch stages.Controlling for other marketing program elements, they findthat word of mouth and advertising both influence demand fornew products but do so at different stages of the relationshipbetween the company and consumer.

Most published research on this issue is empirical and fo-cuses on the direct and interactive effects of marketing tacticsand actions—often using expenditures in different tacticalareas as indicators—across multiple marketing program com-ponents. However, research that examines all 4 P’s simulta-neously and dynamically to ensure relevant managerial insightis rare (12% of all marketing mix studies included in oursample). In one such study, Ataman et al. (2010) simulta-neously examine the effect of all 4 P’s on the performanceof mature brands. This study broadens integrated marketingprogram research beyond previously typical considerations ofadvertising and/or price promotions to also include productand distribution programs and characteristics. The authorsfind greater elasticities for product and distribution than foradvertising and price promotion, suggesting that the researchemphasis on investigating price promotions and advertisingtypical in earlier studies should be expanded.

Conceptual and theoretical papers tend to be less commonin the implementation–content area. However, one example ofsuch work in the second most frequently studied area of thissub-domain (marketing actions/behaviors) is Bolton et al.(2004) development of an integrated conceptual frameworkto help service organizations understand how marketing ac-tions influence their customer assets. The authors create a

6 Since this concerns integrated marketing program design and execution,marketing mix studies contribute to knowledge of strategy implementation–content when all four major marketing program areas are either directlymodeled or are controlled for in studies focusing on one or more specificmarketing program components.

J. of the Acad. Mark. Sci.

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Table10

Representativemarketin

gstrategy

implem

entatio

n–contentstudies

(illu

strativ

eexam

ples)

Author(s)

Paper

type

Theory

approach

Data/analysis

Prim

arythem

eAim

/objectiv

eKey

relatedfindings

Lew

is2004

(JMR)

Empirical

Data-driven

Secondarydata:

dynamic

programmingmodels

ofbehavior

Marketingactio

nsandbehaviors

(loyalty

program)

Tomodelcustom

ers’response

toaloyalty

program

andevaluatealoyalty

program

usingdatafrom

anonlin

egroceryanddrugstoremerchant.

Loyalty

programsencourageconsum

ersto

shiftfrom

single-perioddeci-

sion

makingto

dynamicor

multiple-perioddecision

making.Through

simulationandpolicyexperiments,itispossibleto

evaluateandcom-

pare

thelong-term

effectsof

theloyalty

program

andothermarketing

instruments(e.g.,e-mailcoupons,fulfillm

entrates,shippingfees)on

custom

erretention.Empiricalresultsandpolicyexperimentssuggest

thatthegrocery/drugstoreloyalty

program

studiedissuccessful

inin-

creasing

annualpurchasing

forasubstantialp

roportionof

custom

ers.

Boltonet

al.2004

(JAMS)

Conceptual

Conceptual

develop-

ment

N/A

Marketin

gmix

activ

ities

/tac-

tics

Toproposean

integrated

CUSA

MSfram

ework

(customer

assetm

anagem

ento

fservices).

DevelopstheCUSA

MSfram

ework,which

specifiesthecustom

erbehaviorsthatreflectthe

breadthof

thecustom

er-service

organization

relationship.Thisfram

eworkestablishesasetofpropositions

regarding

howmarketinginstrumentsinfluencecustom

erbehavior

with

inthe

relationship,therebyinfluencingthevalueof

thecustom

erasset.The

paperfurtherdefinesaresearch

agenda

thatidentifiescriticalissuesin

custom

erassetm

anagem

ent.

Hauserand

Shugan

2008

(MKS)

Analytical

Data-driven

Analyticaleconom

icmodels

Marketingmix

activ

ities

/tac-

tics(integrated

program)

Toproviderecommendations

onthestrategy

ofresponse,enablingfirm

sto

betterdefend

their

positionfrom

attack

byanewproduct.

Show

sthatforthe

profitmaxim

izingfirm

intheface

ofacompetitivenew

productentrant

itisoptim

alto:1

)decrease

awarenessadvertising;

2)decrease

thedistributionbudgetunlessthenewproductcan

bekeptout

ofthemarket;and3)

consider

apriceincrease.H

owever,evenunder

theoptim

alstrategy,profitsdecrease

asaresultof

thecompetitivenew

product.Provides

practicalguidance

toestim

atethedistributionof

consum

ertastes,the

positio

nof

thenewproductinperceptualspace,

anddevelopcompetitivediagnosticsto

help

themanagerdefending

againstthe

competitiveattack.

Ataman

etal.2010

(JMR)

Empirical

Data-driven

Secondarydata:

multivariatedynamic

lineartransfer

functionmodel

Marketingmix

activ

ities

/tac-

tics(integrated

program)

Toconsider

theroleof

theintegrated

marketing

mix

(i.e.,advertising,price,product,place)

ontheperformance

ofmaturebrands.

The

total(short-term

plus

long-term)saleselasticity

is1.37

forproduct

and.74ford

istribution.Conversely,thetotalelasticities

foradvertising

anddiscountingareonly.13and.04,respectively.These

results

contrastwith

theprevious

literaturesem

phasison

priceprom

otions

and

advertising.Fu

rther,thelong-term

effectsof

discountingareone-third

themagnitude

oftheshort-term

effects.The

ratio

isreversed

from

other

aspectsof

themix

(inwhich

long-term

effectsexceed

four

times

the

short-term

effects),underscoringthestrategicroleof

thesetoolsin

brandsales.

Pauw

elset

al.2011

(JR)

Empirical

Data-driven

Prim

arysurvey:S

EM

Marketin

gmix

activ

ities

/tac-

tics

Toinvestigatewhetherretailerinvestmentin

ancillary

services

insulatesincumbentsfrom

newentrants.

Introduces

thenotio

nof

Bcom

petitiveserviceoverlap^

(CSO

)that

operationalizes

servicesimilarity.S

howsthatretailersarebestserved

byoffering

manyservices

andthatparticularlysuccessfulretailershave

moreunique

serviceportfolio

s.Fu

rtherm

ore,theim

pactof

uniqueness

ismostprominentw

henagroceryincumbentfacesadiscounterentrant

(e.g.,Krogerfacing

aWal-M

artentry).

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Table11

Representativemarketin

gstrategy

form

ulation–processstudies(illustrativ

eexam

ples)

Author(s)

Papertype

Theory

approach

Data/analysis

Primary

them

eAim

/objectiv

eKey

relatedfindings

Rustetal.

2004

(JM)

Empirical

Data-driven

Prim

arysurvey

andsecondary

data:regression

model

Strategy

selection

tools

Todevelopafram

eworkthatenablesmarketersto

makeBw

hatif^

assessmentsof

marketingROI.

Developsabroadfram

eworkforevaluatin

greturn

onmarketin

g.Providea

newmodelof

CLV

,incorporatingtheim

pactof

competitors’offerings

andbrandsw

itching,and

provideamethodforestim

atingtheeffectsof

individualcustom

erequity

drivers.Thisenablesfirm

sto

identifywhich

driver

hasthegreatestim

pact,com

pare

thedrivers’performance

with

thatof

competitors’drivers,andprojectR

OI.

Venkatesan

and

Kum

ar2004

(JM)

Empirical

Singletheory

lens

Secondary

data:

Markovmodels

Market

analysis:

custom

ers

Toevaluatetheusefulness

ofCLV

forcustom

erselectionandresource

allocatio

n.Marketin

gcontactsacross

variouschannelsinfluenceCLV

nonlinearly.

Customerswho

areselected

basedon

lifetim

evalueprovidehigher

profits

infuture

periodsthan

docustom

ersselected

basedon

several

othercustomer-based

metrics.T

heanalysessuggestthatthereispotential

forimproved

profits

whenmanagersdesign

resource

allocatio

nrulesthat

maxim

izeCLV

.Payneand

Frow

2005

(JM)

Conceptual

Conceptual

developm

ent,

grounded--

theory

N/A

CRM strategy

develop-

ment

process

Develop

aconceptualmodeltobroadenunderstanding

ofCRM

andits

rolein

enhancingcustom

erand

shareholdervalue.

IdentifiesthreealternativeperspectivesofCRM

andem

phasizetheneed

for

across-functional,process-oriented

approach

thatpositio

nsCRM

ata

strategiclevel.Identifyfive

keycross-functio

nalC

RM

processesand

developaconceptualfram

eworkbasedon

theseprocesses:strategy

de-

velopm

entp

rocess,value

creatio

nprocess,multichannelintegration

process,inform

ationmanagem

entprocess,and

performance

assessment

process.Sy

nthesizing

CRM

andrelationshipmarketingconceptsinto

asingle,process-based

fram

eworkprovides

insightintoachievingsuccess

with

CRM

strategy

andim

plem

entation.

Montgom

ery

etal.2005

(MKS)

Empirical

Conceptual

developm

ent,

grounded--

theory

Primarysurvey:

descriptive

analysis

Market

analysis:

competi-

tors

Toexam

inewhether

managersattempt

topredict

competitivereactio

ns.

Find

evidence

ofmanagers’thinking

aboutcom

petitors’pastandfuture

behavior,but

little

incidenceof

strategiccompetitivereasoning.The

relativ

elylowincidenceof

strategiccompetitor

reasoningisdueto

perceptions

oflowreturnsfrom

anticipatingcompetitor

reactio

nsmore

than

tothehigh

costof

doingso.B

oththedifficulty

ofobtaining

competitiveinform

ationandtheuncertaintyassociated

with

predicting

competitor

behavior

contributeto

theseperceptio

ns.

Esperetal.

2010

(JAMS)

Conceptual

Multi-theory

lens

N/A

Situation

assess-

ment

Tounderstand

theinteractionbetweentwoprocesses

throughwhich

thefirm

createsvalueforits

custom

ers:demand-focusedandsupply-focused

processes.

Successfully

managingthesupply

chainto

createcustom

ervaluerequires

extensiveintegrationbetweendemand-focusedprocessesand

supply-focused

processesthatisbasedon

afoundatio

nof

valuecreatio

nthroughintra-organizationalk

nowledgemanagem

ent.Integratingde-

mandandsupply

processeshelpsfirm

sprioritizeandensure

fulfillment

basedupon

theshared

generation,dissem

ination,interpretationandap-

plicationof

real-tim

ecustom

erdemandas

wellasongoingsupply

ca-

pacity

constraints.Introduceaconceptualfram

eworkof

demandand

supplyintegration(D

SI)and

offerinsightsform

anagerialpracticeandan

agenda

forfuture

research.

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Table12

Representativemarketin

gstrategy

implem

entatio

n–processstudies(illustrativ

eexam

ples)

Author(s)

Papertype

Theory

approach

Data/analysis

Primarythem

eAim

/objectiv

eKey

relatedfindings

Ghosh

and

John

1999

(JM)

ConceptualSingletheory

lens

N/A

Organization

design

/structure

Toextend

transactioncostanalysisto

address

marketin

gstrategy

decisionsclosely.

Extends

transactioncostanalysisintoagovernance

valueanalysis(G

VA)

fram

ework,comprised

ofa4-partmodel.H

eterogeneous

resources,

positio

ning,the

consequent

attributes

ofexchange,and

governance

form

allinteracttodeterm

inesuccessin

creatin

gandclaimingvalue.

Considersandillustrates

thetrade-offsthataremadebetweenthese

factors.

Hom

burg

etal.

2000

(JAMS)

Qualitative

Conceptual

developm

e-nt,grounded

theory

Qualitative

Organization

design

/structure

Toinvestigatekeychangesin

marketin

gorganizatio

n.Changes

inmarketin

gorganizatio

narepartof

amoregeneralshift:

changesconcerning

prim

arymarketin

gcoordinatorsandan

increasing

dispersion

ofmarketin

gactiv

ities.Introduce

theconcepto

fa

custom

er-focused

organizatio

nalstructure

thatuses

groups

ofcus-

tomersastheprim

arybasisforstructuring

theorganizatio

nandidentify

typicaltransitionsfirm

smovethroughas

they

migratetowarda

custom

er-focused

organizatio

nalstructure.

Maltzand

Kohli

2000

(JAMS)

Empirical

Conceptual

developm

e-nt,grounded

theory

Prim

arysurvey:

regression

models

Interfunctional

interactions

/alig

nment

Toinvestigatemarketin

g’sinteractions

with

R&D,m

anufacturing,and

finance

Com

bine

insightsfrom

previous

studiesandinterviewswith

managersto

identifysixintegratingmechanism

sproposed

tomitigate

interfunctionalconflict(behavior

thatfrustrates

marketin

ginitiatives).

Inadditio

n,investigatestheroleofinternalvolatility

(turbulencewith

inan

organizatio

n)in

shapingmanifestconflict.Argue

anddemonstrate

thatthesemechanism

saredifferentially

effectiveacross

the

marketin

g-finance,marketin

g-manufacturing,and

marketin

g-R&D

interfaces.

Srinivasan

etal.

2005

(IJR

M)

Empirical

Conceptual

developm

e-nt,grounded

theory

Prim

arysurvey:

SEM

Resource

allocatio

nsTo

investigatewhy

somefirm

sview

recessions

asan

opportunity

andothersdo

not,andthe

impactof

thisview

onperformance.

Proposeanewconstruct—

proactivemarketin

ginarecession.Firm

sthat

have

astrategicem

phasison

marketin

g,an

entrepreneurialculture,and

slackresourcesareproactivein

theirmarketin

gactiv

ities

during

arecession,whiletheseverityof

therecessionintheindustry

negativ

ely

affectsproactivemarketin

grespons e.Inadditio

n,firm

sthathave

aproactivemarketin

gresponse

inarecessionachievesuperior

business

performance

even

during

therecession.

O'Sulliv

anand

Abela

2007

(JM)

Empirical

Data-driven

Primarysurvey

andsecondary

data:

regression

Performance

monito

ring

Toexam

inetheeffectof

ability

tomeasure

marketin

gperformance

onfirm

performance.

The

abilitytomeasuremarketin

gperformance

hasasignificantimpacton

firm

performance,profitability,stockreturns,andmarketin

g’sstature

with

inthefirm

.

Sarin

etal.

2012

(JMR)

Empirical

Data-driven

Prim

arysurvey:

regression

models

Alig

nment

Toinvestigatetheroleof

supervisorsin

implem

entingchangesin

marketin

gstrategy.

Perceivedoutcom

erisk

containm

entand

outcom

erewardem

phasis

enhanceprim

aryappraisals.P

erceived

processrisk

containm

entand

processrewardem

phasisenhancesecondaryappraisals.S

alespeople’s

prim

aryandsecondaryappraisalsinfluencetheirchange

implem

entatio

nbehaviors,leadingto

successful

change

implem

entatio

n,which

dependson:(a)

giving

rewards

tosalespeople

forim

plem

entin

gchange;and

(b)lim

iting

salespeople’srisksand

recognizingthem

fortheirchange-related

efforts.

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Table13

Representativemarketin

gstrategy

hybrid

studies(illu

strativ

eexam

ples)

Author(s)

Paper

type

Theory

approach

Data/analy-

sis

Prim

arythem

eAim

/objectiv

eKey

relatedfindings

Nobleand

Mokwa1999

(JM)

Empirical

Grounded

theory

develop-

ment

Primary

survey:

SEM

Alig

nment

Toidentifyfactorsthatim

pactthe

implem

entatio

nof

marketin

gstrategies.

Implem

entatio

nisavitalcom

ponent

ofmarketin

gstrategy

makingprocess;

organizatio

nal,strategy,and

rolecommitm

entare

necessaryfor

implem

entatio

nsuccess.Strategyandrolecommitm

entare

positiv

ely

relatedto

roleperformance,w

hich

ispositiv

elyrelatedto

implem

entatio

nsuccess.

Varadarajan

and

Jayachandran

1999

(JAMS)

ConceptualSingle-theory

lens

N/A

Other-strategy

research

overview

Toprovidean

assessmento

fthestate

ofthefieldof

marketin

gstrategy

research.

Opportunity,com

petitor,and

decision-m

akinganalyses

areactiv

ities

that

businesses

engage

into

determ

inestrategy

content.How

strategies

are

initiated

inthemarketin

gstrategy

processcouldexplainifstrategy

for-

mulationisintertwined

with

strategy

implem

entatio

n.Ty

peof

firm

,structure,andskillsaffectstrategy

form

ulation.

Kyriakopoulos

andMoorm

an2004

(IJR

M)

Empirical

Data-driven

Primary

survey:

regression

models

Marketin

gactio

n/behavior;

innovativ

enessof

strategy

Toexplorehowmarketo

rientatio

nim

pactsexploitatio

nand

explorationmarketin

gstrategies.

Astrong

marketo

rientatio

nfacilitates

acomplem

entarity

ofhigh

levelsof

marketin

gexplorationandexploitatio

nproject-levelstrategieswhich

re-

sults

inim

proved

newproductfinancialperformance.F

irmswith

aweak

marketo

rientatio

nengaging

inhigh

levelsof

both

strategies

displaya

significantreductio

nin

newproductfinancialperformance.

Atuahene-Gim

aandMurray

2004

(JM)

Empirical

Multi-theory

lens

Primary

survey:

SEM

MSM

-comprehen-

siveness

Toexam

ineantecedentsandoutcom

esof

marketin

gstrategy

comprehensiveness

(MSC

)

Com

prehensiveness

isakeyfeatureof

marketin

gstrategy.P

rocess

rewards

andextra-industry

relatio

nships

arepositiv

elyrelatedto

MSC

;taskcon-

flictand

avoidancehinder

thedevelopm

ento

fMSC.D

ecisionmaking

embracingMSCispositiv

elyassociated

with

performance

whenim

ple-

mentatio

nspeedishigher.T

echnologicalandmarketuncertainty,enhance

anddiminishtheeffectsof

MSCon

performance,respectively.

Morgan2012

(JAMS)

ConceptualConceptual

develop-

ment

N/A

Alig

nment

Todelin

eatetheroleof

marketin

gin

explaining

inter-firm

performance

dif ferences.

Effectiv

elydeveloping

andexecutingmarketin

gstrategy

decisions

concerning

goals,targetmarkets,value

propositions,andtim

ing

(architecturalcapabilities)requires

theacquisition,com

binatio

n,and

deploymentofneeded

resourcesfrom

inside

andoutsidetheorganizatio

n,andmonito

ring

custom

erandcompetitorresponsestomarketplace

actio

ns.

These

resourcesarecross-functio

naland

timedependent.

Krush

etal.2015

(JAMS)

Empirical

Multi-theory

lens

Primary

survey:

SEM

Performance

monito

ring

/con-

trol

andstrategy

types

Toevaluateeffectson

themarketin

gfunctio

n’sinfluencewhen

marketin

gcapabilitiesare

dispersed.

Marketin

g’sinfluencemay

heighten

ordiminish,dependingon

theform

ofmarketin

gcapabilitydispersion.D

ifferent

form

sof

dispersion

impact

strategicoutcom

es;d

ispersioncanlead

tostrategicandrelatio

nal

outcom

esas

wellasfinancialp

erform

ance.T

heeffectsof

custom

erresponsiveness

onbusiness

unitperformance

arefully

mediatedby

marketin

gstrategy

implem

entatio

nsuccess.

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customer asset management of services framework which in-tegrates and links marketing instruments (promotions, rewardprograms, advertising) with customer perceptions of their re-lationship and subsequent customer behavior with its impacton the focal firm. By conceptually linking marketing actionswith customer perception and actions, this study shows howshort-term marketing actions may affect the lifetime value offirms’ customers.

Implementation–process research

The marketing strategy implementation–process sub-domainconcerns the mechanisms (e.g., budgeting, communicationsystems, performancemonitoring, alignment and coordinationprocesses, organizational structure design, etc.) used to iden-tify, select, and realize integrated marketing program tacticsdesigned to deliver marketing strategy content decisions. Asrevealed in Table 8, while there is generally a wider distribu-tion of attention across topics in this sub-domain than inothers, the most commonly studied issue is marketing organi-zation design—the mechanisms by which required marketingtasks are accomplished. Research in this area has includedboth conceptual and empirical studies. For example,Homburg et al. (2000) use field interviews to explore market-ing organization design and the broader shift towardcustomer-focused structures. They distinguish a new type ofmarketing organization that is more customer-focused andidentify the transitional steps taken as firms migrate towardthis new type of structure in accomplishing required market-ing execution tasks. In contrast, Vorhies and Morgan (2003)use primary survey data and secondary performance data in asingle industry to examine the fit between a firm’s strategycontent and its marketing organization design. Drawing onconfiguration theory and utilizing a Bfit as profile deviation^perspective, they find that marketing organization design-strategy content fit predicts both marketing effectiveness andefficiency performance outcomes.

Another relatively popular research focus of studies in thisdomain concerns marketing performance monitoring. For ex-ample, O'Sullivan and Abela (2007) use primary data andsecondary performance data to study the impact of firms’marketing performance measurement ability. They find thatthis is positively related to subjective measures of marketingperformance outcomes, CEO satisfaction with the marketingfunction, and objective stock price—and that the use of mar-keting dashboards does not affect these relationships.Likewise, Homburg et al. (2012) use primary data to examinethe comprehensiveness of marketing performance measure-ment systems (CMPMS) and find that this helps drive market-ing alignment and market knowledge, which in turn positivelypredict performance. They also report that the strategy fit andBcause and effect^ insight components of CMPMS mattermore than the number and range of different metrics used.

Within the implementation–process sub-domain there isalso a stream of research investigating how marketing’s en-gagement with other functions impacts implementation ef-forts. For example, Maltz and Kohli (2000) combine priorresearch, interviews with managers, and survey-based evi-dence to investigate marketing’s interactions with three func-tions that impact strategy implementation and the achieve-ment of marketing goals. The authors identify six integratingmechanisms that can reduce the interfunctional conflict thatcommonly impairs marketing strategy implementation.Additionally, they demonstrate differential effects across mar-keting’s interactions with finance, manufacturing, and R&D.

Hybrid marketing strategy research

While most published marketing strategy research in thejournals we examined primarily examines only one of the foursub-domains of marketing strategy identified in Fig. 1, somestudies cover more than one area. Some of these are concep-tual papers covering a broad domain of marketing strategy.For example, Morgan (2012) develops a meso-level concep-tual framework that theoretically links firm resources and mar-keting capabilities to firms’ marketing strategy decisions andmarketing strategy implementation to positional, market, andfinancial performance outcomes. Consequently, the paper cutsacross the formulation–content and implementation–contentsub-domains of marketing strategy. Similarly, Varadarajan(2010) establishes a domain statement for the field of strategicmarketing, distinguishing between key concepts such as thedifference between strategic and tactical decisions (i.e., formu-lation–content and implementation–content) in the marketingstrategy decision process.

Given the scope involved, there are relatively few empir-ical hybrid studies in our sample. In one such paper, Krushet al. (2015) investigate the impact of marketing’s influencewhen capabilities are dispersed, rather than centralized,within the firm. Controlling for business strategy type (for-mulation–content), they examine how the type of marketingcapability dispersion (implementation–content) chosen im-pacts marketing’s influence and marketing implementationoutcomes. This study finds that the form of marketing capa-bility dispersion affects marketing’s influence within thefirm, which in turn affects customer responsiveness thatdrives marketing strategy implementation success and ulti-mately business unit performance.

Discussion and implications

Our descriptive and sub-domain content exploration of re-search published in the most influential marketing strategyjournals over the past 19 years reveals a number of new in-sights for marketing strategy research. First, is the relative(and increasing) rarity of research focusing on one or more

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aspects of the core marketing strategy construct at the heart ofthe field of strategic marketing. Our coding of research inthese journals reveals that the focus of research attention inthe recent past has been much more on individual marketingmix elements (i.e., individual tactics) than on the marketingstrategies and integrated marketing programs with which in-dividualmarketingmix elements are associated.While knowl-edge of the impact of various individual marketing mix ele-ments under different conditions is obviously useful (moreknowledge regarding any type of marketing phenomena isgenerally a good thing), the relative emphasis in current re-search seems out of balance given the focus of practice onmarketing strategy.

Second, in terms of theory building and theory use, ouranalysis suggests that almost half of the papers published inthe last 19 years have been logic- or data-driven in developingarguments—and this trend is increasing. Of course, data-driven approaches are not necessarily bad, and managers areoften very interested in observed relationships. In addition,finding Bwhat^ empirical relationships exist can lead to Bwhy^propositions that can aid theory building. Likewise, logic isalways a useful device for developing arguments that can beempirically tested. However, both approaches are insufficientfor understanding Bwhy^ relationships involving marketingstrategy phenomena exist. This is problematic for researchersand the academic sub-discipline of strategic marketing sinceanswering Bwhy^ questions is the raison d’être of any socialscience. However, it is also problematic from a relevance per-spective. Well-crafted research in marketing strategy increas-ingly controls for many sources of variance in order to isolatespecific relationships of interest and rule out alternative expla-nations. This is good scientific practice, but also makes itincreasingly difficult for researchers to derive generalizableand actionable practical implications for managers. Thismakes theoretical understanding of Bwhy^ relationships in-volving marketing strategy phenomena exist more valuablesources of guidance for managers than knowing Bwhat^ rela-tionships exist under strict conditions.

In addition, among the theory-based marketing strategystudies published we find there are increasingly few theory-building papers, and a greater proportion of theory-testingpapers. Clearly, theories used in marketing strategy need tobe tested and their boundary conditions established. In do-ing so, we also observe some shift toward using multi- ver-sus single-theory lenses—which may be necessary to dealwith the complexity that is typical (and increasingly so) ofmarketing strategy problems in practice. However, the pau-city of new theory development in marketing strategy overthe past 19 years is alarming given the dramatic changes thathave taken place in the world of marketing strategy practice.There has been much talk generally of the need for buildingindigenous theories in marketing (e.g., Yadav 2010).Behavioral and modeling researchers, while often

contributing to theories in consumer psychology and eco-nomics rarely seek to build theory that is specific to market-ing. Given that marketing is an applied discipline, market-ing strategy researchers may be the best placed to build suchindigenous marketing theory. Yet it appears they are less andless likely to do so.

Third, in terms of data sources and analysis methods, ourstudy shows that the use of qualitative approaches in pub-lished marketing strategy research is rare—and trending downtoward zero. While marketing strategy research is defined bythe domain of inquiry rather than the research methodadopted, this may be problematic for knowledge developmentfor a number of reasons. First, it is rarely possible to examinenew marketing strategy phenomena empirically without firstbeing able to deeply understand their nature (you cannot mea-sure something you cannot define). Yet, casual observation ofthe nature, magnitude, and rate of change in marketing prac-tice suggests that new marketing phenomena are bound to beemerging. This suggests that marketing strategy research isincreasingly lagging practice. Second, qualitative approachesare also necessary for observing many existing marketingstrategy phenomena. For example, understanding marketingstrategy implementation failures, influence in goal setting,participation in marketing strategy decision making, market-ing strategy–tactic alignment, etc. will be extremely limited ifonly survey- or text-based measures are used.

In terms of quantitative data sources and analyses, wefind a relative balance between primary and secondary (onlyand combined with primary) data used in published researchin marketing strategy. However, the trends are clearly awayfrom primary-only research and toward studies using sec-ondary data. We also observe some mirroring of this in thelevel and trends of different analysis approaches used, withincreasing use of time series and regression-based modelsand a drop in SEM. Again, this raises concerns with respectto the types and aspects of marketing strategy phenomenathat are studied. For example, while researchers have madeincreasingly creative uses of secondary data to infer a num-ber of marketing strategy phenomena it may be hard to studymarketing strategy processes using such approaches—yetconceptually these comprise half of the marketing strategyconstruct. Newer techniques such as text analysis may openup new ways to study some process phenomena (e.g., min-ing archival documents concerning a firm’s market analysesand marketing plans). However, there are likely to remainother process phenomena which may always need to beexplored and empirically examined using primary qualita-tive, observation, and/or survey data.

In terms of causation, it is unclear whether the trends thatwe observe in published marketing strategy papers are aresult of increasing numbers of researchers not engagingin research designs of this type or that the major journalsare simply less likely to publish marketing strategy research

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using such approaches. These two things are likely not in-dependent. Reviewers, Associate Editors and Editors beingless likely to accept qualitative and primary research de-signs lowers the incentive for researchers to pursue them.Likewise, the fewer researchers employing such ap-proaches, the weaker the Btalent pool^ of reviewers andAssociate Editors who can assess and constructively im-prove research using them. Irrespective of the cause, impor-tant marketing strategy phenomena may become increas-ingly under-researched unless the trends change.

A marketing strategy research agenda

In practice, not only is the domain of marketing strategy asdelineated in our definition and review framework central towhat marketers and CMOs do, but it is also the domain ofmany of the most important challenges facing them. With thisin mind, we first identify areas within the sub-domains ofmarketing strategy that our review of research in the mostinfluential journals over the past 19 years suggest are under-investigated, managerially relevant, and present opportunitiesfor theoretically interesting research. Second, drawing onsome Bbigger picture^ conceptual questions and practice-based questions that have been overlooked in extant researchwe also identify some Bhybrid^ problems and questions thatcross sub-domains. In each area we briefly highlight datasources and research approaches that may be appropriate.Finally, we also consider some research design issues forconducting such marketing strategy research.

Formulation–content

The historical focus of published research in this sub-domain has been on strategy type and positioning, withsignificantly less research conducted on questions relat-ed to goals, business model design, timing, and specificstages of strategy formulation such as market selection.Interestingly, many of the issues that practicing man-agers are grappling with concern the dynamic andchanging role of marketing, such as how to lead changewhen goals are shifting, how to make trade-offs be-tween short-term and long-term business needs, andhow the shift in the CMO’s role interacts with market-ing strategy viability. In combination, we identify threekey topic areas for additional research that are bothunder-examined in existing marketing strategy research,and of clear relevance to the challenges facing CMOs:marketing strategy goals, the role of the CMO/marketing function, and longer- versus shorter-term em-phasis in marketing strategy. In Table 14A, we developexemplar research questions and identify potential

research approaches that may be particularly useful orappropriate in addressing these questions.

Formulation–process

Within this sub-domain, the dominant focus of research hasbeen the process of marketing strategy making generally, andmechanisms for specific stages of this such as market analysisand target market/customer selection. Significantly less re-search has examined questions related to who should take partin the MSM process, when and how they should take part,what contingencies may make different approaches more orless effective, and how communication mechanisms may beused during the MSM process. Ironically, many of the issuesthat practicing managers are grappling with align with theseunder-researched topics and questions. In Table 14B we there-fore focus on three areas for additional research in this sub-domain that are both under-examined in existing marketingstrategy research, and of clear relevance to the challengesfacing CMOs: planning participation, planning processdesign, and planning enablers/inhibitors. Again, we also de-velop exemplar research questions and identify potential re-search approaches that may be particularly useful or appropri-ate in addressing these questions.

Implementation–content

As previously described, research in this sub-domain has beendominated by marketing mix studies, with significantly lessresearch conducted on any other questions such as what re-source deployments work best and under what conditions,what degree of alignment is achieved, and what performanceoutcomes are monitored. Again, a number of the most press-ing challenges faced by marketers highlighted in Table 1 seemto fall primarily in such lesser-researched areas. In Table 14Cwe therefore focus on three areas for additional research in thissub-domain that are under-examined in existing marketingstrategy research, and relevant to addressing these practicalchallenges: marketing organization, integrated marketingprograms, and marketing tactic enactment. Key researchquestions in each of these areas and potential research ap-proaches that may be useful in addressing these questionsare also identified.

Implementation–process

Prior research in this sub-domain has been more diffuse thanin other domains. Interestingly, a number of the most pressingchallenges faced by marketers highlighted in Table 1 fall inareas that many may consider Bmanagement^ versusBmarketing.^ However, adopting such a perspective runstwo risks: (1) assuming that management researchers are will-ing and able to answer such CMO questions and (2) assuming

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Table 14 Future research agenda priorities

Research area Exemplar questions Exemplar data sources

Formulation–content

Marketing strategy goals 1. Where do marketing strategy goals come from and whosets/influences the criteria, levels and referents?

2. What vehicles (i.e., written reports, tables, charts, dashboards, etc.)are used to communicate marketing strategy goals and howeffective are these vehicles under different conditions?

3. How do shifts in organizational emphasis (e.g., from aconsumer-centric to a multi-stakeholder model; from a less to amore data-driven culture) impact marketing strategy goal choices?

• Ethnography/Observation• Interviews and Survey• Text analysis of firm financial reports and analyst

calls• Text analysis of marketing strategy goal vehicles

(i.e., written reports, dashboards, presentations,etc.)

Role of theCMO/marketing func-tion

1. What is/should be the role of the CMO/marketing function in de-veloping marketing strategy?

2. What different combinations of CMO/marketing role type andorganizational/marketplace characteristics impact marketing strate-gy options considered and choices made

3. How are marketing strategy choices shared within and beyond themarketing organization to guide and co-ordinate subsequent ac-tions?

• Comparative Case Studies• Qualitative interview insight and secondary data

(e.g., marketplace, firm, organizationalcharacteristics)

• Interview & Survey

Longer- vs. shorter-termemphasis in marketingstrategy

1. How do/should CMOs evaluate and make strategic decisions re-garding activities that have Shorter- vs. Longer-term horizons?

2. When should CMOs prioritize Shorter- vs. Longer-term consider-ations in marketing strategy choices (and vice versa)?

3. To what degree does CMO compensation structure impactprioritization of Shorter- vs. Longer-term strategies?

• Observation• Interviews• Simulations/Lab experiments• Compensation Data• Analytical models

Formulation–process

Planning Participation 1. Who is (or should be) involved in the process of developingmarketing strategy?

2. Are there different levels and types of participation across firms andif so why and with what consequences?

3. What is the impact of cross-functional vs. marketing-only partici-pation in affecting both strategy decisions and the effectiveness ofthe implementation of intended strategy?

• Ethnography/Observation• Interviews & Survey• Acquire planning process documents and text

analyze and/or code data

Planning processdesign

1. What planning process design characteristics matter most inaffecting different aspects of marketing strategy decisions? Underwhat internal and external conditions are different planning processdesigns more or less effective and efficient?

2. When and how does multi-touch attribution modeling of past ac-tions feed into future marketing strategy making processes?

3. When, why, and how are planning processes changed, and withwhat consequences?

• Interviews & Survey• Multi-method integrating marketplace data, firm

data, marketing department data, and planningprocess data

• Ethnography/Observation

Planningenablers/inhibitors

1. What is the impact of spending more vs. less time in developingmarketing strategy content on implementation timing, speed andeffectiveness?

2. What financial and human resource Bbudgets^ are typical indeveloping marketing strategy and what is their impact onmarketing strategy content and implementation effectiveness?

3.When and how shouldmarketing strategy goals and options/choicesbe Bmarketed^ internally (upwards, downwards, horizontally)? Towhich other functions and under what conditions?

• Marketing Budget Analysis and MarketingDepartment Headcount Data

• Comparative case studies• Interviews & Survey

Implementation–content

MarketingOrganizationStructure

1. In what ways do contemporary marketing organizations differ, whyand with what consequences for marketing mix options andchoices?

2. What impact does insourcing vs. outsourcing of different marketingmix activities have and under what conditions?

• Interview & Survey• Comparative case studies• CMO responsibilities listed in professional

networking sites• Vendor client lists (e.g. market research, creative

agencies)

Integrated marketingprograms

1. How does traditional vs. digital execution and resource deploymentmix affect marketing mix outcomes and what contingencies affectthis?

2. What combinations of marketing mix tactics produce the bestoutcomes under different internal and external conditions?

• Primary survey data collection across firms• Within-company study across SBUs• Interviews and Surveys• Simulation studies

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that the answers to such CMO questions will be the same asfor a general manager. These are important and likely invalidassumptions. In Table 10D we therefore focus on three areasfor additional research in this sub-domain: marketing strategyadaptation, strategy realization processes, and marketing or-ganization design. Key research questions in these three areasand allied research approaches are also identified. While mar-keting strategy researchers will need to be careful in framingsome of these questions, they are marketing (vs. purely man-agement) strategy questions—and ones to which CMOs needanswers.

Hybrid

In addition to the Bwithin sub-domain^ questions, we identifytwo hybrid Bacross domain^ areas that are either under-researched to date but theoretically very important, or thatare both under-researched and an area of keen managerialinterest: intended versus realized marketing strategy Bgaps^and marketing–strategy alignment. While the existence ofintended versus realized strategy gaps is conceptualized inthe management literature, empirical verification of this andunderstanding why theymay exist is almost completely absent

Table 14 (continued)

Research area Exemplar questions Exemplar data sources

3. What trade-offs exist in making marketing mix tactic choices (e.g.,creativity vs. complementarity, complexity vs. enactment speed)how do managers make such trade-offs?

Marketing tacticenactment

1. How long does it typically take for marketing mix resourcedeployment/action enactments to occur and what may affect thetime-frames involved?

2. Are gaps between intended marketing tactic decisions and theirrealized enactment common?

3. What are the causes and consequences of such implementationgaps?

• Primary survey data collection across firms• Interviews• Comparative case Studies

Implementation-process

Adaptation 1. When and how are marketing program actions adjusted duringimplementation? What internal and/or external factors trigger suchadjustments?

2. What is the role of performance monitoring and accountabilityprocesses in such adjustments?

3. What are the consequences of such adjustments on differentperformance outcomes and relative to planned goals and whatfactors affect the impact of the adjustments made?

• Observation of marketing teams across SBUs• Comparative case studies• Interviews and Survey data• Survey and Secondary performance data

Strategy RealizationProcesses

1. What the key processes by which CMOs manage theimplementation of marketing strategy?

2. How are different change management processes used and withwhat results when newmarketing strategies are being implemented?

3. How are marketing strategy implementation tasks allocated andassigned and how are individuals/teams held accountable for de-livering on required tasks?

• Comparative case studies• Interviews & Survey data• Survey & Secondary performance data• Ethnography/Observation

MarketingOrganization Design

1. How does marketing organization design affect marketing programdesign and execution?

2. How do CMOs identify required talent for new marketingresponsibility areas to enable strategy implementation, and are somemethods more effective than others?

• Ethnography/Observation• Interviews and Survey• Acquire planning process documents and text

analyze data

Hybrid

Intended-Realizedmarketing strategygaps

1. How prevalent are intended-realized marketing strategy gaps andwhat is their magnitude?

2.What factors affect the size and nature of such gaps and how do theyimpact performance?

3. What causes intended-realized strategy gaps and how can anydownside impact on performance be reduced?

• Text analysis of marketing strategy goals andsecondary performance data

• Cross sectional interviews and surveys• Longitudinal surveys and secondary performance

data

Marketing StrategyAlignment

1. When, how and from whom should managers seek alignmentduring and after the development of marketing strategy decisionsand integrated marketing program designs?

2. What internal and external factors affect the need for and impact ofalignment from others to marketing strategy and integratedmarketing program decisions?

• Comparative case studies• Cross-sectional interviews & Surveys• Single company observation of different

marketing teams

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in marketing strategy. We identify some exemplar questionsand suggest some research approaches that may address thiskey knowledge gap. In addition, Balignment^ is one of themost frequently used words in practice when managers talkabout how they seek to implement intended marketing strate-gy. Yet empirically we have little understanding of these phe-nomena. This is clearly an important gap inmarketing strategyknowledge that is highly relevant to CMOs and othermarketers.

Future research

In addition to the need to address such specific researchquestions, there are also broader approaches to studyingmarketing strategy research problems and questions thatmay offer new opportunities for knowledge development.For example, drawing on sociological and anthropologicaltheories and approaches there is a large and growing field ofresearch in strategic management labelled Bstrategy aspractice^ that considers the Bdoing of it^ including the ac-tors involved, the perspectives they hold, and tools that theyuse (e.g., Feldman and Orlikowski 2011; Whittington2006). Howmight such an approach informmarketing strat-egy research with respect to better understanding who doesit, what they do, how they do it, and how this shapes strategydecisions, their implementation and outcomes? For exam-ple, how does what CMOs think that marketing strategy isvary across firms and why? When, why and with what con-sequences do CMOs use different perspectives and tools indeveloping marketing strategy (e.g., complex formal plansvs. goals and improvisation vs. simple rules)?

While some of the work on Bstrategy as practice^ is similarin nature to process research in terms of some of the process-related marketing strategy sub-domain and hybrid researchquestions highlighted earlier, it also has a stronger focus onthe individuals and groups involved. Such an individual- andgroup-level focus also opens up potentially interesting newavenues for using other theories and research approaches tostudy marketing strategy. For example, psychology and be-havioral economics researchers have shown that people havesystematic (and predictable) biases in thinking and decision-making. Since humans (individually and collectively) makeand execute marketing strategy decisions, how do suchindividual-level biases affect marketing strategy decisionmaking and with what consequences? For example, doBblindspots^ exist in managers’ analyses of customers andcompetitors during marketing strategy making? What are theimplications for designing marketing strategy-making and ex-ecution processes that recognize and limit such biases? Suchan individual-level decision-maker focus may also allow re-searchers to begin to explore the Bmicro-foundations^ of mar-keting strategy such as managers’ strategic thinking skills.

This research agenda and these new approaches also sug-gest some important questions and implications for datasources and research method approaches that can be used toexplore these areas of marketing strategy. For example, qual-itative tools of observation are widely used in managementresearch on strategy. Behavioral experiments can also be usedwith individual marketing strategy decision-makers.Simulations and games can provide insights into bothindividual-level and group-level marketing strategyphenomena.

In addition, new technologies are also opening up new datasources and analysis possibilities. For example, new text anal-ysis tools and approaches enable new possibilities for data col-lection of some important strategic marketing phenomena suchas market orientation. New image analysis tools are also emerg-ing. How can such tools be applied to some of the marketingstrategy questions outlined here? There is also a rapid growth intools and approaches for managing and analyzing unstructureddata (Balducci and Marinova 2018). These may offer excitingopportunities for researchers to work with firms to collate andanalyze previously untouched data sources such as presentationcontent topics, calendar appointments, email threads, work-place collaboration software content, etc. These may provideexciting new ways to gain insights into some of the problemsand questions we identify in our new research agenda.

Conclusion

Marketing strategy lies at the conceptual heart of the strategicmarketing field. It is also central to marketing practice and thearea within which many of the most pressing challenges formarketers arise. Using a new conceptualization of the domainof the marketing strategy construct as a lens, we assess thecurrent state of marketing strategy research. We uncover im-portant challenges to marketing strategy research but also nu-merous opportunities for developing important and highly rel-evant new marketing strategy knowledge. The research agen-da we develop provides opportunities for researchers to devel-op new theory, establish clear relevance, and contribute toimproving practice. Since many of these cannot be adequatelyaddressed with current publicly available secondary data, re-searchers need to become more eclectic and creative in theirresearch designs, including emerging new technologies fordata capture and analysis. Correspondingly, Editors,Associate Editors, and reviewers will need to become moreopen, eclectic, and skilled in evaluating such research designs.While there may be institutional obstacles in doing so, ourresearch suggests the payoffs can be enormous—the numberand importance of unanswered marketing strategy questionsand opportunities to impact practice has arguably never beengreater.

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