Strategic asset
DESCRIPTION
A resource of the firm that is strong relative to competitors.
A resource of the firm that is strong relative to competitors.
KEY INSIGHTS
In a marketing strategy context, strategic assets, such as a firm’s brand or its installed customer base, provide the firm with resources with which to pursue a sustainable competitive advantage.
In a marketing strategy context, strategic assets, such as a firm’s brand or its installed customer base, provide the firm with resources with which to pursue a sustainable competitive advantage.
KEYWORDS Firm resource
IMPLICATIONS
In formulating marketing strategies, marketers should consider the cost and feasibility of the firm creating or maintaining strategic assets, in addition to any strategic competencies, to achieve sustainable competitive advantages. When a firm chooses to not use its well-known and highly regarded brand in support of a new product introduction, for example, it is losing a resource on which to draw in pursuing and achieving a sustainable competitive advantage.
In formulating marketing strategies, marketers should consider the cost and feasibility of the firm creating or maintaining strategic assets, in addition to any strategic competencies, to achieve sustainable competitive advantages. When a firm chooses to not use its well-known and highly regarded brand in support of a new product introduction, for example, it is losing a resource on which to draw in pursuing and achieving a sustainable competitive advantage.
APPLICATION AREAS AND FURTHER READINGS
Marketing Strategy
Glazer, Rashi (1991). ‘Marketing in an Information-Intensive Environment: Strategic Implications of Knowledge as an Asset,’ Journal of Marketing, 55(4), October, 1–19.
Glazer, Rashi (1991). ‘Marketing in an Information-Intensive Environment: Strategic Implications of Knowledge as an Asset,’ Journal of Marketing, 55(4), October, 1–19.
Piercy, N. (1986a). ‘Marketing Asset Accounting: Scope and Rationale,’ European Journal of Marketing, 20(1), 5–15.
Piercy, N. (1986b). ‘Marketing Asset Accounting: The Way Forward?’ European Journal of Marketing, 20(1), 104–106.
BIBLIOGRAPHY
Srivastava, Rajendra K., Shervani, Tasadduq A., and Fahey, Liam (1998). ‘Market- Based Assets and Shareholder Value: A Framework for Analysis,’ Journal of Marketing, 62(1), January, 2–18.
Srivastava, Rajendra K., Shervani, Tasadduq A., and Fahey, Liam (1998). ‘Market- Based Assets and Shareholder Value: A Framework for Analysis,’ Journal of Marketing, 62(1), January, 2–18.