Marketing Strategy
Author: Aaron J D’souza
Marketing strategy in era v.
Godfrey and Higgins (2020) emphasize the dominant discourse within marketing strategy is shaped by the mainstream Marketing Management School, which emerged in the mid-20th century. This discourse is constructed of certain beliefs, ideas and arguments that are preferred, while others are silenced. The rational model is the dominant perspective within this discourse, leading to the exclusion of alternative perspectives on the strategy process and on marketing practice. This dominant discourse has had significant power effects, shaping and regulating the practice of marketing strategy in both academic programmes and organizational performance.
Advertising creative strategy.
Dall’Olio and Vakratsas (2023) analyse this study provides a comprehensive assessment of the impact of Ad Creative Strategy (ACS) on advertising elasticity, focusing on the components of function (content) and form (execution). Using a three-dimensional representation for function and accounting for executional elements and creative templates for form, the study evaluates the interaction between content and execution, the effect of templates, and the impact of composite ACS metrics. The analysis of 2,251 creatives from 91 brands in 16 categories reveals that experiential and cognitive content dimensions have a greater positive impact on advertising elasticity compared to affect. Consistent combinations of content and executional elements, as well as structuring creatives according to templates, can enhance elasticity. This study also highlights the importance of content focus and variation in driving elasticity, showing that consumers respond to the strategic orientation of a creative in terms of content emphasis and changes in content and execution.
Marketing discipline in era v.
Hunt (2018) explains the discipline of marketing has responsibilities to society, students, marketing practice, and the academy. The future of marketing will largely depend on the actions and decisions made by those involved in the field. The optimism or challenges that lie ahead for marketing in the future will be determined by the efforts and choices of the individuals and institutions within the discipline.
Advancing marketing strategy.
Hunt (2018) explains strategic marketing’s difficulties in the marketing discipline are similar in many respects to the problems of the American Marketing Association’s marketing and society. In order to reverse the slide towards academic irrelevance in marketing scholarship, it is suggested that the norms for publishing in prominent journals need to be changed. Specifically, the widespread adoption of the ‘SSB’ norm, which rejects studies using data from one source, should be reconsidered. Traditional marketing strategy articles, which often analyse data from a single source, have been found to be highly influential within and outside the discipline. Therefore, journal editors should consider adopting a more flexible approach to the SSB norm, only rejecting studies if reviewers can convincingly argue that key findings are likely to be biased due to using data from one source.
Sustainable Marketing Strategies.
Park et al (2022) emphasizes sustainability is a crucial issue that businesses must address in order to survive in the face of climate change and other environmental hazards. Consumers are putting pressure on companies to demonstrate a commitment to sustainability, and those that do so successfully will create brand loyalty and competitive advantage. Sustainable marketing is essential in conveying a company’s efforts to consumers and persuading them to make environmentally conscious choices. Companies must establish a clear purpose and mission, educating consumers on the importance of sustainability and building a long-term relationship based on trust and loyalty. Ultimately, companies and consumers must work together to create a sustainable future.
Web-based social movements contesting marketing strategy.
Palmer et al (2014) explains this paper explores how web-based social movements influence the marketing strategy of dominant firms, using Tesco as a case study. This study shows that marketing strategies can create socially produced spaces where multiple actors attempt to destabilise and delegitimise it. Social movements use rhetorical strategies of appropriation, association, and importation to contest marketing strategies. This study highlights the impact of social movements on Tesco’s marketing strategies, including public scrutiny, criticism, and contentiousness. Further research is needed to explore the influence of other social movements and environments beyond retail. Understanding how social movements impact marketing strategies of various types of organizations is crucial for future research.
Impact on marketing strategy performance.
Ibrahim and Harrison (2020) explains this study contributes to marketing strategy literature by developing a multiplicative model that assesses the impact of internal and external variables, as well as competitor marketing mix variables, on firms’ performance. By demonstrating that external factors, such as competitors’ marketing strategies, have a greater influence on business performance than internal strategies alone, the study provides a deeper understanding of the dynamic effects of various factors on marketing strategy effectiveness. This research responds to the call for empirical testing of simultaneous relationships between multiple variables and provides both theoretical and managerial contributions to the field.
Marketing Excellence.
Homburg et al (2020) emphasizes this investigation conducted two studies to explore the concept of marketing excellence. Study 1 used a qualitative approach and identified three priorities for achieving marketing excellence: marketing ecosystem, end-user and marketing agility. Study 2 used a quantitative approach and found that marketing excellence is value relevant for investors, with marketing excellence portfolios generating significant abnormal returns. This study also found that marketing excellence has been more value relevant than market orientation and marketing capabilities in recent years. These findings provide valuable insights into the importance and impact of marketing excellence on organic growth.
Market segmentation strategy.
Sciglimpaglia and Raafat (2022) explains this paper contributes to the understanding of business models and strategic marketing by analysing empirical data from a multinational company, Hewlett Packard, to highlight the effectiveness of freemium business models. This study focuses on actual user survey data to discuss elements of freemium business model optimization at the company level, showing how the free version can entice users to switch to the paid version. This study is unique in its consumer-centric approach, utilizing a survey-based sample of over 5,000 users of HP Photo Creations to demonstrate the importance of market segmentation in converting free users to premium customers. By analysing core users and target users, the study shows the ability to forecast downstream revenue enhancement. This approach contrasts with other studies that use small samples and crowd sourced data, as it examines industry effects, business objectives, and consumer behaviour in the context of the four key business model elements. This study demonstrates the value of using a market segmentation approach to develop a conversion marketing offering, as different segments value features differently. Overall, this study highlights the significance of considering industry, competition, company objectives, and consumer behaviour when implementing a freemium business model.
Ecological Marketing Research.
van Heerde et al (2021) explains that this editorial highlights the importance of ecological validity in academic marketing research, often overlooked but essential for impactful contributions to the field. All the authors provide practical steps to enhance ecological validity and stress the potential spill over effects into other research aspects. They encourage researchers to step out of the academic bubble and explore real world marketing scenarios, believing that this broader perspective will lead to improved work and increased impact.
Conclusion
In conclusion, the dominant discourse within marketing strategy shapes the beliefs, ideas and arguments that are preferred while silencing alternative perspectives. The rational model is the dominant perspective, but there is a need to consider alternative viewpoints to enhance the effectiveness of marketing strategies. Sustainability, social movements, and business models all play crucial roles in shaping marketing strategies and influencing business performance. Researchers must continue to explore these areas to provide a deeper understanding of marketing excellence and its impact on business success. Additionally, the importance of ecological validity in academic marketing research cannot be overstated, as it provides valuable insights for real world applications and impactful contributions to the field. By considering a variety of perspectives and factors, marketers can develop more effective strategies and drive business success in a rapidly changing landscape.
References
Dall’Olio, F., & Vakratsas, D. (2023). The Impact of Advertising Creative Strategy on Advertising Elasticity. Journal of Marketing, [s. l.], v. 87, n. 1, p. 26–44. DOI 10.1177/00222429221074960. Disponível em: https://research.ebsco.com/linkprocessor/plink?id=b351f1f8-4bca-31de-b35b-af83268ad7bd.
Godfrey, R., & Higgins, M. (2020). Marketing strategy and the hunt for era V. Journal of Marketing Management, [s. l.], v. 36, n. 9/10, p. 867–887. DOI 10.1080/0267257X.2020.1747521. Disponível em: https://research.ebsco.com/linkprocessor/plink?id=4e1f2638-c0a1-3717-9ecd-8f4718034e6f.
Homburg, C., Theel, M., & Hohenberg, S. (2020). Marketing Excellence: Nature, Measurement, and Investor Valuations. Journal of Marketing, [s. l.], v. 84, n. 4, p. 1–22. DOI 10.1177/0022242920925517. Disponível em: https://research.ebsco.com/linkprocessor/plink?id=48d36e04-1ab1-3f55-8cd6-462b07e79358.
Hunt, S. D. (2018). Advancing marketing strategy in the marketing discipline and beyond: from promise, to neglect, to prominence, to fragment (to promise?). Journal of Marketing Management, [s. l.], v. 34, n. 1/2, p. 16–51. DOI 10.1080/0267257X.2017.1326973. Disponível em: https://research.ebsco.com/linkprocessor/plink?id=7c3394ad-83cf-3df4-8b33-2006404393dc.
Hunt, S. D. (2018). The prospects for marketing strategy and the marketing discipline in Era V: is the prognosis promising or problematic? Journal of Marketing Management, [s. l.], v. 34, n. 1/2, p. 86–95. DOI 10.1080/0267257X.2017.1401381. Disponível em: https://research.ebsco.com/linkprocessor/plink?id=31c8c718-728f-3137-8c3e-39475bcbb00f.
Ibrahim, E. B., & Harrison, T. (2020). The impact of internal, external, and competitor factors on marketing strategy performance. Journal of Strategic Marketing, [s. l.], v. 28, n. 7, p. 639–658. DOI 10.1080/0965254X.2019.1609571. Disponível em: https://research.ebsco.com/linkprocessor/plink?id=8a25577e-10cc-3b86-8fcf-e6c8a61a5bc1.
Palmer, M., Simmons, G., & Mason, K. (2014). Web-based social movements contesting marketing strategy: The mobilisation of multiple actors and rhetorical strategies. Journal of Marketing Management, [s. l.], v. 30, n. 3–4, p. 383–408. DOI 10.1080/0267257X.2013.818574. Disponível em: https://research.ebsco.com/linkprocessor/plink?id=733a415a-74f4-3d85-ac28-91b7f8676365.
Park, J. Y., Perumal, S. V., Sanyal, S., Ah Nguyen, B., Ray, S., Krishnan, R., Narasimhaiah, R., & Thangam, D. (2022). Sustainable Marketing Strategies as an Essential Tool of Business. American Journal of Economics & Sociology, [s. l.], v. 81, n. 2, p. 359–379. DOI 10.1111/ajes.12459. Disponível em: https://research.ebsco.com/linkprocessor/plink?id=83b4e7c0-eee0-331c-b16e-d5bee8bd3d81.
Sciglimpaglia, D., & Raafat, F. (2022). Freemium marketing: use of demand-side research in market segmentation strategy. Journal of Strategic Marketing, [s. l.], v. 30, n. 7, p. 667–690. DOI 10.1080/0965254X.2020.1824013. Disponível em: https://research.ebsco.com/linkprocessor/plink?id=cab9ddfc-f5ce-3c0a-a349-60b9283f771f.
van Heerde, H. J., Moorman, C., Moreau, C. P., & Palmatier, R. W. (2021). Reality Check: Infusing Ecological Value into Academic Marketing Research. Journal of Marketing, [s. l.], v. 85, n. 2, p. 1–13. DOI 10.1177/0022242921992383. Disponível em: https://research.ebsco.com/linkprocessor/plink?id=6496a1b8-00b1-3616-83b2-92cb39dc39e4.
