Strategic marketing, marketing strategy and market strategy

In the lead article of this issue, Hunt (2015) provides an exposition of how the resource-advantage (R-A) theory undergirds the sixteen foundational premises of marketing strategy advanced in Varadarajan (Journal of the Academy of Marketing Science, 38 (2), 119-140, 2010). Hunt notes that R-A theory and its three foundational strategies, and the sixteen foundational premises of marketing strategy complement each other in securing the theoretical foundations of the field of strategic marketing. Building on Hunt’s article, this commentary provides additional insights into issues fundamental to the field of strategic marketing and R-A theory, and the foundational premises of marketing strategy and R-A theory. The commentary also provides a retrospective and prospective discussion of the domain of strategic marketing, definition of marketing strategy, issues fundamental to the field of strategic marketing, and the foundational premises of marketing strategy that I had proposed in my above referenced article. In the context of theory development, empirical research and organization of the cumulative body of knowledge in the field of strategic marketing, I highlight the conceptual distinction between marketing strategy and market strategy. © 2015, Academy of Marketing Science.