Introduction
Marketing is all about coming up with and putting into action a marketing strategy. Recent reports about the biggest problems that marketers face raise a lot of questions about marketing strategy. Since coming up with and implementing a marketing strategy is a big part of what marketers do in the real world, research that helps us understand these tasks is key to making the academic field of marketing relevant. For a better theoretical understanding of marketing, it is also important to know more about the state of marketing strategy. Before trying to come up with an indigenous marketing theory, it’s important to know what models have been used in previous study and what parts of marketing strategy haven’t gotten much attention. Systematic analyses of how different research methods and approaches are used in a certain field and how they have transformed over the year can similarly give us ideas for how to make fresh methods and approaches. So, reviewing research in a field on a regular basis is a good way to bring together what we know and help us learn more.[1]
So, this paper does a full evaluation of the literature on strategic marketing. It has three specific goals: to create a framework for evaluating the existing state of study in marketing strategy, to show the state of awareness in basic sub-fields of developing and implementing marketing strategies, and to create a study plan that shows which parts of marketing strategy need more work. In addressing these goals, this study adds to strategic marketing understanding in a number of ways.
Method Used
Evaluation of the most significant marketing journals in Baumgartner & Pieters’s (2003) study of journal influence, and identification of the some of such that issue study in the area of strategic marketing, Journal of Marketing Research (JMR), Journal of Retailing (JR), Marketing Science (MKS), Journal of the Academy of Marketing Science (JAMS) , Industrial Marketing Management (IMM) and Journal of Marketing (JM) were performed in order to guarantee the representational and great quality of the revisions that were incorporated.[2] All these were used because they provided details regarding theory or research methods. The principal conditions that were then cast to display studies for insertion in our examination were as follows: the goal of the research must be on strategic plan also as a main goal or as portion of a broader research design; the study must be of marketing spectacles; the sampling unit is at the firm level rather than at the individual level; and the studies must have been published in peer-reviewed journals.
Results
Although marketing strategy pertains to the administrative strategy component that serves as the primary emphasis of the area of strategic marketing, strategic marketing denotes to the overarching topic of study.[3] Therefore, even though all papers focusing on marketing strategy fall under the umbrella of strategic marketing, not all research pertaining to strategic marketing is concerned with marketing strategy.[4] This distinction is maintained by this paper. Although some of these papers inspect spectacles that are inside the overall pitch of strategic marketing, almost 95 percent of the papers that were available in the six best powerful journals publication strategic marketing investigation throughout the phase of 1999-2017 were not strategy papers. This means that they did not inspect spectacles within the marketing strategy field that was outlined in the review agenda. In point of fact, the principal group of papers that are available in these journals (36 percent) are research on marketing strategies that investigate different individual components of a marketing database. These components can include advertising[5], product and price[6], channel[7], and selling, but they do not investigate or explicitly control for the other components of the marketing mix.[8]
The second biggest classification of articles in these journals throughout this period (15 percent) pact with marketing strategy-associated input variables (6 percent), such as marketing assets and competences, outputs (9 percent)[9], positional returns and enactment consequences or both. This category accounts for the majority of the papers published in these journals. An additional six percent of all articles that are published in these journals concentrate on either internal or external environmental phenomena[10], with the majority of the studies focused on external environmental aspects as opposed to internal environmental considerations. Research on marketing strategy makes up the smallest number of the various kinds of strategic marketing publications identified in our evaluation among the six journals to be examined, although this disparity is not particularly great. However, it was also seen that there was a significant difference between each of the journals that were looked at. Notably, JM and JAMS are the platforms for a copious greater proportion of marketing strategy documents as a proportion of all the journals compared to the other four journals; additionally, JM and JAMS qmutually issued the popular (57 percent) of the pooled the entire marketing strategy articles that were issued through all six journals.
To be more specific, as can be displayed in Figure 1, throughout this time period, the most marketing strategy research were published in JM (n=81, which is equivalent to 32 percent of the total amount of studies issued in all six journals), shadowed by JAMS (n=63, which is equivalent to 25 percent). Nevertheless, the development curves that show the proportion of marketing strategy papers to all other sorts of articles that were issued individually in the six journals during the phase 1999-2017 clearly demonstrate a declining tendency. This trend line shows a definite downward trend. This curve is notably sharp for JM, with JAMS averaging a larger proportion of papers published on marketing strategy compared to other sorts of articles than JM has done on average over the past eight years (2010-2017).
Figure 1
We also looked at the detailed models that were used in researches that employed a single-theory lens in order to offer more perception into the exact models that are most commonly used to ascertain spectacles on which to concentrate on when looking into marketing strategy investigation complications and to forecast associations among the concepts and variables that were recognized.
Our expressive and sub-field investigation of research that has been issued in the most significant marketing strategy papers over the years (1999-2017) shows some quantity of fresh perceptions for the field of marketing strategy investigation. The first problem is the comparative scarcity of study that focuses on one or extra components of the fundamental marketing strategy concepts that lies at the center of the study of strategic marketing. This problem is getting worse. Our understanding of the study published in these journals has shown that the emphasis of research consideration in the current historical period has been additional on discrete elements of the marketing mix as opposed to the marketing strategies and assimilated marketing plans that are associated with separate elements of the marketing mix. Even though it is obviously beneficial to have knowledge of the impact that different discrete essentials of the marketing mix have under different conditions, the comparative stress in present research appears to be out of stability given that the primary attention of marketing exercise is on marketing strategy.
Second, when it comes to building and using theories, our research shows that almost half of the arguments in journal articles in the previous nineteen years were based on reasoning or statistics, and this trend is growing. Approaches that are based on data aren’t always worse, and administrators are rather engaged in the associations they see. Also, figuring out “what” pragmatic relations occur can result to “why” statements that can help build theories. In the same way, logic is always a good way to build claims that can be tested in the real world. But neither of these methods is enough to explain “why” relations between marketing strategy concepts happen. This is a problem for scholars and the theoretical subfield of strategic marketing, because the point of any social science is to answer “why?” questions. But from a relevance point of view, it is also a problem. Well-designed study in marketing strategy pedals for more and more causes of variation so that specific relationships of interest can be found and other explanations can be ruled out. This is a good way to do social science, but it makes it harder for researchers to find practical managerial implications that can be generalized and used. This means that managers can learn more from knowing “why” relations between marketing strategy spectacles exist than from comprehending “what” relations exist under stern guidelines.
When it comes to quantitative datasets and evaluations, we find that published research on marketing strategy uses a good mix of both primary and secondary (alone or with primary) data. But it’s clear that the trend is away from research that only uses primary data and toward research that uses secondary data. It is also seen that some of the same things in the level and drifts of the dissimilar types of examination. For example, the use of time series and regression-built models is going up, while the use of SEM is going down. Again, this makes one wonder about the kinds of marketing strategy phenomena and parts of them that are considered. For example, scholars have used secondary data in more and more creative ways to figure out some of the marketing strategy spectacles. However, it may be tough to research marketing strategy procedures using these methods, even though they make up part of the marketing strategy concept. Text analysis is a newer method that may give us different ways to look at some progression spectacles. But it’s likely that there will always be other development spectacles that require to be discovered and tested using first-hand qualitative, observational, and survey data.
Conclusion
Marketing strategy is the most important idea in the scope of strategic marketing. It is also the core of marketing, and it is in this range that countless of the biggest problems marketers face come up. We look at the existing position of marketing strategy investigation through the lens of a new way of thinking about the area of the marketing strategy concept. We find important problems with marketing strategy research as well as many chances to learn important and useful new things about marketing strategy. The research agenda we make gives researchers chances to come up with new ideas, show how they are relevant, and help improve practice. Since many of these questions can’t be answered well with the secondary data that is currently available to the public, researchers need to be more open-minded and creative in how they design their studies and use new technologies to collect and analyze data. Editors, AEs, and approvers will need to develop more exposed, diverse, and accomplished in order to evaluate these kinds of research designs. Institutional barriers may make it hard to do this, but our research shows that the benefits can be huge. The quantity and relevance of unrequited marketing strategy queries and chances to change preparation have debatably never been higher.
Reference
Borden, N. H. (1964). The concept of the marketing mix. Journal of advertising research, 4(2), 2-7.
Chernev, A., 2018. Strategic marketing management. Cerebellum Press.
Fang, E. E., Lee, J., Palmatier, R., & Han, S. (2016). If It Takes a Village to Foster Innovation, Success Depends on the Neighbors: The Effects of Global and Ego Networks on New Product
González, E.M., Meyer, J.H. and Toldos, M.P., 2021. What women want? How contextual product displays influence women’s online shopping behavior. Journal of Business Research, 123, pp.625-641.
Launches. Journal of Marketing Research, 53(3), 319-337.
Khlif, H., Samaha, K. and Soliman, M., 2019. Internal control quality, voluntary disclosure, and cost of equity capital: The case of an unregulated market. International Journal of Auditing, 23(1), pp.144-160.
Kumar, V., Dixit, A., Javalgi, R. R. G., & Dass, M. (2016). Research framework, strategies, and applications of intelligent agent technologies (IATs) in marketing. Journal of the Academy of Marketing Science, 44(1), 24-45.
Morgan, N.A., Jayachandran, S., Hulland, J., Kumar, B., Katsikeas, C. and Somosi, A., 2021. Marketing performance assessment and accountability: Process and outcomes. International Journal of Research in Marketing.
Palmatier, R.W., Houston, M. B., & Hulland, J. (2018). Review articles: purpose, process, and structure. Journal of the Academy of Marketing Science, 46(1), 1-5.
Varadarajan, R. (2010). Strategic marketing and marketing strategy: domain, definition, fundamental issues and foundational premises. Journal of the Academy of Marketing Science, 38(2), 119-140.
Slotegraaf, R. J., & Atuahene-Gima, K. (2011). Product development team stability and new product advantage: The role of decision-making processes. Journal of Marketing, 75(1), 96-108.
[1] Palmatier, R.W., Houston, M. B., & Hulland, J. (2018). Review articles: purpose, process, and structure. Journal of the Academy of Marketing Science, 46(1), 1-5.
[2] Kumar, V., Dixit, A., Javalgi, R. R. G., & Dass, M. (2016). Research framework, strategies, and applications of intelligent agent technologies (IATs) in marketing. Journal of the Academy of Marketing Science, 44(1), 24-45.
[3] Chernev, A., 2018. Strategic marketing management. Cerebellum Press.
[4] Varadarajan, R. (2010). Strategic marketing and marketing strategy: domain, definition, fundamental issues and foundational premises. Journal of the Academy of Marketing Science, 38(2), 119-140.
[5] Fang, E. E., Lee, J., Palmatier, R., & Han, S. (2016). If It Takes a Village to Foster Innovation, Success Depends on the Neighbors: The Effects of Global and Ego Networks on New Product Launches. Journal of Marketing Research, 53(3), 319-337.
[6] Slotegraaf, R. J., & Atuahene-Gima, K. (2011). Product development team stability and new product advantage: The role of decision-making processes. Journal of Marketing, 75(1), 96-108.
[7] González, E.M., Meyer, J.H. and Toldos, M.P., 2021. What women want? How contextual product displays influence women’s online shopping behavior. Journal of Business Research, 123, pp.625-641.
[8] Borden, N. H. (1964). The concept of the marketing mix. Journal of advertising research, 4(2), 2-7.
[9] Morgan, N.A., Jayachandran, S., Hulland, J., Kumar, B., Katsikeas, C. and Somosi, A., 2021. Marketing performance assessment and accountability: Process and outcomes. International Journal of Research in Marketing.
[10] Khlif, H., Samaha, K. and Soliman, M., 2019. Internal control quality, voluntary disclosure, and cost of equity capital: The case of an unregulated market. International Journal of Auditing, 23(1), pp.144-160.
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