Knowledge of marketing strategy is essential for marketing majors. To supplement and/or replace the traditional lecture-discussion approach, several pedagogical vehicles have been recommended to teach marketing strategy, including the analytic hierarchy process; career-planning cases; computer-assisted, simulated marketing cases; experiential projects; life-history analysis; product-management projects; scenario planning; shareholder-value analysis; simulation; Web-based cases; and Web-based business-intelligence tools. Each of these approaches incorporates marketing-strategy knowledge content that consists of concepts, theories, and conceptual frameworks. Noting that the approaches to teaching marketing strategy lack an overall, integrative theory, this article proposes (1) resource-advantage (R-A) theory as an appropriate, positive, integrative theoretical foundation for teaching marketing strategy, (2) several conceptual frameworks drawn from R-A theory that are useful in teaching marketing strategy, and (3) suggestions on how to approach teaching R-A theory in the classroom.
Type of Material:
Open (Access) Journal-Article
Recommended Uses:
The recommended use of this module is a resource for instructors to prepare lecture material surrounding resource-advantage (R-A) theory.
Technical Requirements:
Internet Browser
Identify Major Learning Goals:
The authors contend that there is no overall, integrative theory to teach marketing strategy. They contend that resource-advantage (R-A) theory, a general theory of competition, helps students see how the micromarketing subjects of business and marketing strategy fit into the broader, macromarketing topic of competition. The article has several goals: (1) demonstrate how resource-advantage (R-A) theory is an appropriate, positive, integrative theoretical foundation for teaching marketing strategy, (2) explain conceptual frameworks drawn from R-A theory that are useful in teaching marketing strategy, and (3) provide suggestions on how to approach teaching R-A theory in the classroom.
Target Student Population:
The target audience of this article would be academicians who teach upper-division or graduate-level marketing strategy courses.
Prerequisite Knowledge or Skills:
The authors contend that students with little or no business experience have difficulty conceptualizing firms as bundles of resources. Some foundational knowledge of this concept will help students to understand R-A theory as it relates to marketing strategy.
Content Quality
Rating:
Strengths:
The authors structured this article based on student-expressed problems in understanding R-A theory. They present these problems as nine frequently asked student questions, in the language that students typically use. Based on those questions, the authors share how they might respond. An example student question is "Isn’t resources just a fancy name for the factors of production that I learned about in my economics classes?"
Concerns:
An instructor who is not well-versed in R-A theory may have difficulty responding to questions that are not among the most common ones asked.
The article has a 2006 publication date. While it is a solid presentation that stands on its own, the reader may wish to update his/her/their knowledge-base to present day.
Potential Effectiveness as a Teaching Tool
Rating:
Strengths:
As a strength, the article helps students to conceptualize R-A theory. Most of the article presented student questions and suggested answers that the professors might provide in response.
The authors' responses often delve into other disciplines (economics, finance, management) to help students see the interdisciplinary nature of business.
For some of the student questions that were not addressed in class, they might be useful as out-of-class assignments, group discussions, in-class debates, role plays, or exams. Once an instructor masters the R-A theory concepts, there are opportunities to deliver the content in a variety of ways.
The authors deliberately walk the reader through the background for usage of the R-A Theory in the classroom and provide discussion and examples for how to implement it. Especially notable are key questions that might arise during and after the presentation, and the authors’ response to them. Additionally the authors note that Powerpoint slides for their classroom presentation are available upon request.
Concerns:
This isn't necessarily a deficiency, but the module is a peer-reviewed, theoretical journal article, with some suggestions on responding to student questions. Tenured and tenure-track professors who completed a doctoral program are more likely to appreciate the contents of this article. Little is provided on how to assess effectiveness of student learning.
Ease of Use for Both Students and Faculty
Rating:
Strengths:
The article is contained within one .pdf file available for reading online, downloading, saving, and/or printing. The information is logically presented, is easily accessible, and can be implemented in the classroom relatively quickly. In the fine print at the end of the article, it states that PowerPoint slides and/or Word transparencies for use by instructors in their classes are available from the authors on request.
Creative Commons:
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