Product-market strategy and the marketing capabilities of the firm: impact on market effectiveness and cash flow performance

Vorhies, Douglas W., Morgan, Robert E. ORCID: https://orcid.org/0000-0001-8981-3144 and Autry, Chad W. 2009. Product-market strategy and the marketing capabilities of the firm: impact on market effectiveness and cash flow performance. Strategic Management Journal 30 (12) , pp. 1310-1334. 10.1002/smj.798

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Abstract

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.

Item Type:	Article
Date Type:	Publication
Status:	Published
Schools:	Business (Including Economics)
Subjects:	H Social Sciences > H Social Sciences (General) H Social Sciences > HD Industries. Land use. Labor H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management H Social Sciences > HF Commerce
Uncontrolled Keywords:	Marketing capabilities ; Product-market strategy ; Business performance ; Capabilities integration
Publisher:	Wiley Blackwell
ISSN:	0143-2095
Last Modified:	19 Oct 2022 09:03
URI:	https://orca.cardiff.ac.uk/id/eprint/19869

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