Elgar original reference
Edited by Subhash C. Jain and David A. Griffith
Chapter 8: Resource-Advantage Theory: Insights for Global Marketing Strategy Research
David A. Griffith and ChangSeob Yeo INTRODUCTION The field of ‘marketing’ is founded on theory development and its extension (Bartels, 1965; Hunt, 2002; Wilkie and Moore, 2003). Specifically, the effort for improvement of practice has led to the development of theory (Alderson, 1965), and the development of theory has pushed ahead practice. This interrelatedness is resident in the field of global marketing strategy as much as in the field of marketing itself. However, although there have been many attempts to push forward the theoretical foundations of global marketing strategy (Zou and Cavusgil, 2002; Levitt, 1983; Porter, 1986), lack of consensus about theoretical application/implication in global marketing strategy studies continues to exist (Ryans et al., 2003; Zou and Cavusgil, 2002). In terms of theoretical contribution, global marketing researchers have struggled to integrate research due to the use of different paradigms, units of analysis, causal assumptions and researcher bias (Jemison, 1981). While the efforts of scholars to advance global marketing strategy are laudable, the field of global marketing strategy could be substantively advanced by developing a more unified theoretical foundation. To strengthen the theoretical foundation of global marketing strategy research, we suggest the employment of resource-advantage theory. Resource-advantage theory (hereafter R-A theory) views the firm as aggregator of heterogeneous and imperfectly immobile resources (Hunt, 2000; Hunt and Morgan, 1995). Hunt (2000) contends that available comparative advantage in resources allows for the establishment of a competitively advantageous position and, in turn, superior financial performance. As a unique competency and relatively sustainable advantage are...
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