Annotated Review:Strategic Marketing

In the mid-1990s, a new theory of competition, labelled ¡§resource- advantage theory of competition,¡¨ was proposed in the marketing literature (Hunt & Arnett. 2003). The new theory claims to offer a better explanation and predict key micro and macro marketing phenomena and therefore claim to replace the Neoclassical Theory of Perfect Competition (Deligonul & Cavusgil, 1997). However, Deligonul and Cavusgil (1997) argues that any successful challenger to any theory must come from a new paradigm, but both the neoclassical perfect competition and R-A theory come from the same paradigm, therefore, the replacement thesis is unconvincing.

This paper seeks to examine the body of literature on comparative advantage theory of competition (also known as the resource-advantage theory of competition) and sustained competitive advantage in orde

After analysing a range of articles from the marketing literature, some patterns start to emerge. One of the recurring themes is that even though the resource-advantage theory can explain many marketing phenomenon better than the traditional theory of perfect competition, but it lacks completeness, meaning there are much more areas needed to be researched before it can replace the neoclassic theory.

Some topics in this essay:
Hunt Morgan, Advantage Theory, Deligonul Cavusgil, Tamer Cavusgil, , John Fahy, Hunt Arnett, Varadarajan Fahy, perfect competition, theory competition, r-a theory, theory perfect, resource-advantage theory, theory perfect competition, neoclassical theory, competitive advantage, hunt morgan, hunt morgan 1995, morgan 1995, resource-advantage theory competition, neoclassical theory perfect, deligonul cavusgil 1997, issues explored,