Abstract
This paper reviews recent developments in the fields of strategic marketing and strategic management in relation to value, value chains, competitive resources and competitive advantage. We note the failure of these revisions to address the emergence of ‘social resources’ generated by a commitment to sustainable business practices. We argue that the advances offered by the new theories can also provide a better understanding of how social resources may be used to develop a marketing strategy to compete successfully against rivals with greater financial resources and market power. These arguments are illustrated with a case study of the Day Chocolate Company. This UK‐based fair trade company was started in 1998 with the aim of providing more equitable market access for Ghanaian cocoa growers and has many unique features, such as equity ownership for its supplier Kuapa Kokoo Farmers Co‐operative.
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