Developing new marketing strategy theory: addressing the limitations of a singular focus on firm financial performance

Abstract

This commentary complements the Hunt (2015) essay and identifies the challenges that the R-A theory poses with its emphasis on superior financial performance as a firm’s primary and superordinate objective. It points to the need for new marketing strategy theory with a broader perspective of including other stakeholders beyond investors while designing firm objectives. In addition, the commentary points to short-termism as an inevitable consequence of focusing on financial performance. It thus calls for new marketing strategy theory that includes intermediate objectives based on customer mindset metrics that reflect intangible marketing assets.