Strategy refers to the pattern of resource allocation

• Strategy refers to the pattern of resource allocation that enables firms
to maintain or improve their performance (Barney 1996 , p. 26).
Conceptualization of marketing strategy Remarks
• “ Marketing strategy is a set of integrated decisions and actions by which
a business expects to achieve it marketing objectives and meet the value
requirements of its customers. ” (Slater and Olson 2001 , p. 1056)
• While the first definition is open ended (a set of integrated decisions
and actions), the second definition explicitly specifies the principal
dimensions of marketing strategy (market segmentation, targeting,
positioning, product, price, promotion and distribution) . As noted
earlier, a potential concern with a closed specification is whether it
comprehensively captures the scope of the focal construct.
“ Marketing strategy is concerned with decisions relating to market
segmentation and targeting, and the development of a positioning
strategy based on product, price, promotion and distribution decisions. ”
(Slater and Olson 2001 , p. 1056)
• Marketing activities and decisions related to building and maintaining
a sustainable competitive advantage (Day et al. 1990 ).
• The section of the paper titled, “ Foundational Premises of Marketing
Strategy, ” provides a discussion on the limitations of viewing achieving and
maintaining a sustainable competitive advantage as the purpose of marketing
strategy, rather than as one of the purposes of marketing strategy.
• The analysis, strategy development, and implementation activities
pertaining to developing a vision about the market(s) of interest to the
organization, selecting market target strategies, setting objectives, and
developing, implementing, and managing the program positioning
strategies designed to meet the value requirements of customers in each
target market (Cravens 2000 , p. 31).
• Illustrative of a definition of marketing strategy encompassing
content, purpose, process and implementation. The term “ strategy ” is
used to define marketing strategy (see reference to strategy
development, market target strategies, and positioning strategies).
J. of the Acad. Mark. Sci. (2010) 38:119 – 140 129

and make appropriate mid-course changes, the question of
“ where to compete ” (choice markets to serve and market
segments to target) is an issue that is addressed relatively
infrequently. Hence, in specific reference to an existing
product offering of an organization that is targeted at
specific markets and market segments, the proposed
definition can be stated as follows:
Marketing strategy refers to an organization ’ s integrat-
ed pattern of decisions that specify its crucial choices
concerning marketing activities to perform and the
manner of performance of these activities, and the
allocation of marketing resources among markets,
market segments and marketing activities toward the
creation, communication and/or delivery of a product
that offers value to customers in exchanges with the
organization and thereby enables the organization to
achieve specific objectives.