ABSTRACT
A review of strategic marketing literature spanning almost five decades is indicative of diverse points of view concerning the conceptual domain of strategic marketing as a field of study and the definitions of market strategy and marketing strategy. Against this backdrop, this chapter proposes a domain statement for strategic marketing as a field of study, advances definitions for market strategy and marketing strategy, specifies issues fundamental to the field of strategic marketing, and enumerates certain foundational premises of marketing strategy. Market strategy is defined as an organization’s crucial decisions concerning markets to serve, mode of entry into the chosen markets, and time of entry. Marketing strategy is defined as an organization’s crucial decisions concerning marketing activities to perform, their manner of performance, and the allocation of resources among markets and marketing activities to facilitate the achievement of a competitive advantage by an organizational entity in the marketplace.
