PRODUCT-MARKET STRATEGY AND THE MARKETING CAPABILITIES OF THE FIRM: IMPACT ON MARKET EFFECTIVENESS AND CASH FLOW PERFORMANCE

• 成果类型: Review
• 署名作者: Vorhies, Douglas W.; Morgan, Robert E.; Autry, Chad W.
• 署名单位: University of Mississippi; Cardiff University; Oklahoma City University
• 刊物名称: STRATEGIC MANAGEMENT JOURNAL
• ISSN/ISSBN: 0143-2095
• DOI: 10.1002/smj.798
• 发表日期: 2009
• 页码: 1310-1334
• 关键词: marketing capabilities; product-market strategy; BUSINESS PERFORMANCE; capabilities integration

摘要

We report on two studies (a single and a multi-industry) that empirically investigate a nomological network of relationships between strategic business unit product-market strategy (differentiation, cost-focus, and product-market scope), marketing capabilities (architectural and specialized capabilities, as well as their integration), and business unit performance (market effectiveness and subsequent one-year objective cash flow), along with a series of controls. Addressing important lacunae in the resource-based view our main research objective is to augment understanding of how critical firm-level marketing capabilities enable the realization of strategy, thus, further advancing both the resource-based view and more recent capabilities theorizing. Specifically, we test seven hypotheses and find strong evidence that both architectural and specialized marketing capabilities, and their integration, positively mediate the product-market strategy and derived business unit performance relationship. In contrast to many extant studies, both survey and objectively measured data are combined, and because the secondary data collected contains both resource-level (input) data and subsequent one-year financial data, a higher level of confidence may be attributable to our findings. Copyright (C) 2009 John Wiley & Sons, Ltd.