The appropriateness of different modes of strategy from a product-market perspective

Abstract

Strategy-making is an important yet complex task. The present research examines the issue of strategy mode, that is, the manner or style in which strategy is determined in an organization. Prior researchers have proposed various typologies for strategy modes. However, research into which strategy modes are appropriate to what kinds of firm situations and contexts has been limited. Specifically, there has been no research that explores strategy modes from a marketing environment perspective. Given that research at the intersection of marketing and management disciplines has often produced mutually beneficial, rich insights, we approach strategy modes from a product-market perspective and examine the normative appropriateness of different strategy modes with reference to firms' external and internal environments. The research also explores the relevance and value of combining various strategy modes in regard to different stages of the product-market life cycle. In exploring strategy modes and their combinatory influences from a product-market perspective, we develop specific propositions. The paper concludes with a discussion of implications for academics and practitioners.