Marketing strategy

Abstract

Purpose The purpose of this paper is to organize the semantics jungle of marketing strategy approaches, terms and concepts into a logically coherent framework using the history of marketing thought to inform current marketing research and practice. Design/methodology/approach The paper takes the form of an intensive literature review tracing the three streams of marketing strategy terms and concepts from their roots in the literatures of early marketing management, managerial economics and corporate management to the present. Findings Along with marketing ideas, strategy concepts from managerial economics and from corporate management were absorbed directly into the corpus of strategic marketing thought. These three streams of research have converged into the current state of marketing strategy – an eclectic mixture of both complementary and conflicting strategic approaches, terms and concepts. By systematically following the evolutionary development of major contributions to strategic marketing thought and by redefining terms and refining concepts the various approaches to strategy can be integrated into a comprehensive conceptual framework for organizing and choosing among individual marketing strategies. Originality/value The framework offers conceptual and practical value. It provides a researcher with a consistent set of terms and concepts to build upon. The framework also provides a strategic toolkit for the marketing manager, based upon organizational and environmental conditions, to choose from among the feasible alternatives the most effective marketing strategy to achieve management's goal(s).

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