Exploring the Value and Process of Marketing Strategy: Review of literature

Abstract

Marketing strategy represents a key element of success for organizations. Executing an effective marketing strategy is just as important as conceptualizing and creating it. Through marketing strategy implementation firms employ scarce resources through marketing capabilities in order to attain the set goals and targets. In order to illustrate the value of marketing strategy and the process of implementation a detailed literature review was performed. A total of (Number of Studies Depending On the References Count, After Employee Deletion) studies on the topic of marketing strategy have been examined. The meta-analysis uncovers two distinct but related features to marketing strategy content: marketing strategy decisions and marketing strategy decision implementation. The literature also suggests there is a relationship of marketing strategy, and marketing mix elements on organizational performance, and emphasizes a further need to perform conceptual and empirical studies. The originality and value of the review lies in the fact that marketing strategy has been analyzed both in terms of its outcomes and as a process that does not yield satisfactory results without effective implementation.