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EBR
18,4 Marketing strategy: taxonomy
and frameworks
Adel I. El-Ansary
266 Coggin College of Business, University of North Florida, Jacksonville,
Florida, USA

Abstract
Purpose The purpose of this paper is to present taxonomy of marketing strategy concepts and
integrative frameworks that differentiate and integrate its formulation and implementation processes.
Design/methodology/approach The paper is conceptual based on a review of academic
literature on marketing strategy chronicled in major marketing journals January 1990-April 2006. We
present selected references classified by key marketing strategy topics for further pursuit by interested
readers. Also, the paper reflects our experience and views based on practices chronicled in corporate
case studies and trade journals.
Findings The literature casts marketing strategy formulation and implementation in the context of
strategic planning and marketing strategy process models. The focus of the strategic planning model is on
achieving corporate financial objectives through the implementation of product, pricing, promotion, and
place (distribution) programs. The focus of the marketing strategy process model is on the formulation of
segmentation, targeting, differentiation, and positioning strategies to create, communicate, and deliver the
value to the customer resulting in gaining customer satisfaction and loyalty; i.e. marketing objectives.
Practical implications The propositions and frameworks constitute guidelines useful in the process
of marketing strategy formulations and implementation by practitioners and establish bases for academic
researchers to test concept validity, examine concept differences, and explore concept relationships.
Originality/value This paper advances propositions that clearly differentiate, but interrelate,
marketing strategy formulation and implementation processes and recast the strategic planning
financial-oriented model and the marketing strategy process models into a set of frameworks to
demonstrate that: the road to healthy financial results must first be paved by sound marketing strategies;
explicitly state and underscore the role of branding and organizational strategies in mediating formulated
marketing strategy into actionable marketing programs; and broaden the concept of firm orientation to
reflect its role in mediating corporate strategy into a set of functional strategies including marketing.
Keywords Marketing strategy, Formulation, Implementation, Taxonomy, Frameworks, Models
Paper type Conceptual paper

The marketing literature is replete with normative and positive theoretical and empirical
research-based papers and articles dealing with various aspects and elements inherent
in the processes of marketing strategy formulation and implementation. Albeit robust in
concept, unlike consumer behaviour, personal selling, and advertising, marketing
strategy did not rise to the status of a sub-discipline of marketing! Surprising at first
glance, but clear when subjected to scrutiny!
First, there is no family tree that reflect clear genealogy of marketing strategy, its
heritage and relationships with one of its parent disciplines, strategy, and brother and
sister strategies of the firm; i.e. corporate strategy; growth strategy; other functional
European Business Review area strategies such as production/operation, finance, and human resource strategies;
Vol. 18 No. 4, 2006
pp. 266-293 competitive strategy; e-strategy; and global strategy!
q Emerald Group Publishing Limited
0955-534X
Second, the concept of marketing strategy lacks clarity in the sense that in one
DOI 10.1108/09555340610677499 breath the literature counts segmentation, targeting, differentiation, and positioning as
marketing strategies and in the same breath recounts the marketing mix elements/4 Ps, Marketing
i.e. product, pricing, promotion and place (distribution), as strategies. Such account of strategy
marketing strategy fails to differentiate between marketing strategy and marketing
management. Marketing strategies are segmentation, targeting, differentiation, and
positioning. Marketing management is a marketing mix program designed for
marketing strategy implementation! Adding insult to injury, the role of branding in
marketing strategy formulation and implementation is almost confounded. Is it one of 267
the marketing strategies? Is it product/branding, a subsidiary tactic of the product
element of the marketing mix? Is it stand-alone strategy that mediates marketing
strategies into a marketing mix/management implementation program?
Fourth, the literature casts marketing strategy in the context of either corporate/
business strategic planning or marketing process models. The focus of the strategic
planning model variety is on achieving corporate financial objectives through
designing and implementing product, pricing, promotion, and place (distribution)
programs. The focus of the marketing process model variety is on the formulation of
segmentation, targeting, differentiation, and positioning strategies designed to create,
communicate, and deliver value to the customer to ensure their satisfaction and gain
their loyalty, i.e. achieve marketing objectives. Neither of the models alone captures the
multidimensionality of marketing strategy formulation and implementation from a
customer, company, and competitor vantage point.
In this paper we attempt to remedy these shortcomings. The paper is organized in
two major sections and six sub-sections:

Taxonomy of marketing strategy

At first we present taxonomy of marketing strategy formulation and implementation
followed by an integrative framework setting the foundation for marketing strategy in
the context of other strategies of the firm:
.
Marketing strategy formulation processes.
.
Marketing strategy implementation processes.
.
Marketing strategy formulation and implementation processes.
.
Marketing strategy in the context of other strategies of the firm.

Alternative frameworks for integrating marketing strategy formulation and

implementation
At first, we cast the design and implementation of a marketing-oriented, customer-focused
marketing strategy into a framework that incorporate the strategic, structural, and
management/operations antecedents to creating customer value. In the second, we cast
marketing strategy formulation and implementation into a managerially-oriented,
company-focused strategic planning framework. The framework incorporates
dependent/marketing management, independent/marketing strategy, and
mediating/firm orientation, branding, and organizational structure variables.
(1) Marketing process model. Creating a positive customer experience;
.
antecedents;
.
processes; and
.
outcomes.
EBR (2) Strategic marketing planning model;
18,4 .
the role of firm orientation;
.
an apologetic for tiers I and II marketing strategy;
.
strategy must drive the structure; and
.
marketing strategy metrics.
268
Throughout the paper we advance a number of propositions that constitute taxonomy
of the concepts of marketing strategy formulation and implementation. The taxonomy
and frameworks presented are based on deductive reasoning and collective evidence
gathered from the literature. Selected references of the literature reviewed, classified by
marketing topics are listed at the end of the paper for readers interested in further
pursuing the subject. We hope that the propositions and frameworks constitute
guidelines useful in the process of marketing strategy formulations and
implementation by practitioners. Also, we hope that in the process of developing the
taxonomy and frameworks, we improved the range of concepts and quality of
frameworks; thus rendering more sound bases for the conduct of academic research.

Taxonomy of marketing strategy

In this section we present taxonomy and integrative frameworks setting the foundation
for marketing strategy formulation and implementation in the context of other
strategies of the firm. At first, we set forth taxonomy and related frameworks for
marketing strategy formulation and implementation. Later we present an integrative
framework of marketing strategy in context of other strategies of the firm.

Marketing strategy formulation processes the mediating role of targeting

Marketing strategy is defined for our purposes as the total sum of the integration of
segmentation, targeting, differentiation, and positioning strategies designed to create,
communicate, and deliver an offer to a target market. The process of marketing
strategy formulation is shown in Figure 1. The framework for marketing strategy
formulation illustrates a disciplined process of strategy formulation built around the
three pillars of the marketplace/space, i.e. customers, company, and competitors. It
portrays marketing strategy formulation as an interactive and iterative process
involving a number of steps that must be performed in sequence:
.
understand customer behaviour;
.
segment the market;
.
select target segments;
.
design the offer to fit target market needs;
.
differentiate the offer; and
.
position it in the customers mind.

The framework implies a relationship that should be stated explicitly; i.e. targeting
mediates the company to the customer. The mediating nature of targeting underscores
the importance of importance of following the rigorous sequence of sub-processes
referred to earlier.
 Marketing
The 3 Cs and the Market strategy

269
Targeting
Customer Company

Market Place
Market Space

n
Po

tio
sit

tia
ion

ren
ing

ffe
Di

Competitors

Market
Offer
Segmentation Targetting
Consumer Goods
Services
Behavior Experiences
n
Po

tio
sit

tia
ion

ren
ing

ffe
Di

Competitors

Figure 1.
Marketing strategy
formulation in the context
of market places/spaces
EBR Marketing strategy implementation processes deploying the marketing mix to create,
18,4 communicate, and deliver the value
Once marketing strategy is formulated, a process for its implementation must be set in
force. The process of strategy implementation is what we traditionally label as marketing
management. Marketing management is defined for our purposes as the marketing
strategy implementation processes of creating the value (product/price), communicating
270 the value (promotion), and delivering the value (channels). The process, mix, and program
designed to create, communicate, and deliver the value are shown in Figure 2.
In essence, the value is created by conceiving the product/service offer, brand
naming it, and pricing it; the value is communicated by promoting the offer; the value is
delivered via marketing channels. Because of its significance as a necessary condition
for effective strategy implementation, the theme of value creation, communication, and
delivery will be pursued further in detail later in the second section of the paper.

Marketing strategy from formulation to implementation the critical role of branding

The definitions presented in the first and second parts of this section set apart strategy
formulation from its implementation. The integration of marketing strategy formulation
and implementation processes is shown in Figure 3. The integrative framework
underscores the need to classify marketing strategy formulation and implementation
variables into dependent, independent, mediating, and moderating variables. Such
classification enables us to develop better understanding of the role and function of
some, if not all, the variables. Good examples are targeting that mediates the companys
offer to its customers and branding that mediate differentiation and positioning.
Branding is defined for our purposes as naming the offer to gain an identity, evolve
meaning, and project an image conducive to building brand equity. As shown in Figure 3,
not only does branding mediate strategy from formulation into an implementation
program, but also, the role of branding spans naming the offer to differentiating the
companys offer from its competitors and positioning it in the customers mind.

Marketing strategy in context of other strategies of the firm

Marketing strategy is not a stand alone endeavour. As shown in Figure 4, marketing
strategy is an integral component of functional area strategies of the firm, e.g. marketing,
finance, and human resources, designed and implemented in unison with other strategies
of the firm, i.e. corporate, growth, competitive, global, and e-business strategies.

Create Communicate Deliver

Process
Value Value Value

Product/Offer Promotion/ Channels /

Mix
Price/Value IMCM Value Chain

Figure 2.
Marketing strategy
implementation: process,
Program Marketing Management
mix and programs
 Marketing
Segment Target Offer strategy
Formulation
Strategy

Customers Competitors
271
Position Brand Differentiation

- Advertising - Identity - Product

- Promotion - Meaning - Price
Implementation

- Image - Place
Strategy

- Promise (Channels)
- Attributes - Promotion
- Essence
- Parity
- Differences
Figure 3.
Marketing strategy
IMCM Brand Equity Marketing Mix formulation and
implementation the role
of branding strategy

Corporate /
Growth
Business Functional Area Strategies
Strategies
Strategies

Human
-Mission Marketing Finance Resources
-Penetration
-Vision -Product
-Core Values -Segment -Leverage -Interenal Development
-Core Competencies -Target -Lease/Buy Marketing - Market
-Differentiate -Empowerment Development
-Position -Re-engineering -Diversification

Production Operations Logistics

-Outsourcing -Supply Chain

Figure 4.
Marketing strategy in
context of other strategies
E-Strategy Competitive Strategy Global Strategy of the firm
EBR We group corporate, marketing/functional area, and growth strategies as key strategies
18,4 for winning the marketing war. These strategies are translated into competitive
strategies designed to win battles in market places and spaces. We classify global and
e-business strategies as dimensional strategies that moderate/impact all other strategies
of the firm. Global strategy is mediated to all other strategies primarily through market
development growth strategy. E-business strategy is mediated to all other strategies of
272 the firm through corporate strategy. While other strategies, such as marketing, may be
designed to improve effectiveness of the firm, e-business strategy defined as the total
sum of e-commerce, business intelligence, supply chain management, customer
relationship management, and enterprise resource planning is designed to enhance
firm efficiency.
Marketing strategy contributes to enhancing firm effectiveness through targeting.
E-business strategy contributes to enhancing firm efficiency through reduction in
transaction cost (e-commerce), enhancing business intelligence, improving supply
chain and customer relationship management and enterprise resource planning. These
contributions are shown in Figure 5. The significance of these strategy links lie in the
performance synergy between effectiveness and efficiency that lead to productivity
gains necessary to create customer value.
Firms that achieve sustainable competitive advantage capitalize on other
weapons in the strategy arsenal including strategic synergy between marketing and

Marketing Segment
Strategy Target to
Segments
Effectiveness Target

Strategy
Differentiate

Position

E-Strategy

Marketing E-Commerce
Strategy
Business
Intelligence
Strategy
Supply Chain
Management

Figure 5. Customer Relationship

E-Strategy Management
Marketing and e-strategy
antecedents of value
creation Enterprise Resource
Efficiency Planning
other functional area and organizational strategies as shown in Figure 6. The Marketing
thesis here is that additional productivity gains can be harvested from synergies strategy
between:
.
marketing and production (outsourcing);
.
marketing and human resource management (internal marketing);
.
marketing and finance (marketing-financial engineering of margin and asset 273
management); and
.
marketing and organizational strategy (lease or buy, strategic alliances and
partnerships involving co-marketing an/or co-branding).

In summary, there are strategy-structure-management/operations synergies inherent

in the integration of the processes of their formulation and implementation. In the
following section we trace the sources, elaborate on the terms and conditions, and
enumerate the outcomes of capitalizing on these synergies.

Alternative frameworks for marketing strategy formulation and

implementation
Earlier in this paper we indicated that the literature cast marketing strategy in the
context of either marketing process models or corporate/business strategic planning
models. Our contention was that while the focus of the strategic planning model
variety is on achieving corporate financial objectives through designing and
implementing product, pricing, promotion, and place (distribution) programs, the focus

Manufacturing
Management
Outsourcing

Marketing
Management
Operations Internal
Marketing
Human Resource
Management
Strategic
Profit Model
Financial
Management

Lease or Buy?

Co-Branding

Structure Strategic
Alliances
Co-Marketing Figure 6.
Functional and
organizational strategy
Partnership synergies
EBR of the marketing process model variety is on the formulation of segmentation,
18,4 targeting, differentiation, and positioning strategies designed to create, communicate,
and deliver value to the customer to ensure their satisfaction and gain their loyalty,
i.e. achieve marketing objectives. Since, neither of the models standing alone captures
the multidimensionality of marketing strategy formulation and implementation from a
customer, company, and competitor vantage, we decided to present both types of
274 models accenting the view of the 3Cs of market places/space. In this section of the
paper we start with the marketing process model of creating a positive customer
experience.

The marketing process model of creating a positive customer experience antecedents,

processes and outcomes
Earlier we defined marketing strategy as total sum of the integration of segmentation,
targeting, differentiation, and positioning strategies designed to create, communicate,
and deliver an offer to a target market.
The value creation framework, presented in Figure 7, shows the antecedents, processes,
and outcomes of value creation. The framework captures strategy-structure-management
synergies presented earlier as antecedents to value creation. It casts value creation in terms
of the broader process of creating a positive customer experience, and specifies marketing
outcomes required to generate desirable financial results. The following propositions set
the terms and conditions for creating customer value:

Antecedents Processes Outcomes

Structure Positive Customer Experience Transactions

Create Achieve Engender Customer

Improve Market
Strategy Customer Customer Customer Life Cycle Profitability
Productivity Share
Value Satisfaction Loyalty

Business
Operations Value+Satisfaction + Commitment Relationships
Share

Stages of Customer Life Cycle

Level of Intensity

Figure 7. Intensity
Value creation
antecedents, processes,
and outcomes
Awareness Exploration Commitment Dissolution
 P1. The primary antecedent to value creation is productivity assessed in the Marketing
traditional measures of effectiveness and efficiency. strategy
P2. Antecedents to productivity are strategy, structure, and management/
operating systems of the firm. Sound strategy, structure, and management/
operations in tandem enable productivity and subsequently value creation.
P3. Value creation, a necessary but not sufficient variable, is the triggering 275
mechanism in creating a positive customer experience.
P3. A positive customer experience is assured only when creating the value leads
to customer satisfaction and their loyalty is engendered.
P4. Customer value, satisfaction and loyalty are necessary variables to
generated desired marketing outcomes including market share and business
share.
The antecedents, processes, and outcomes of creating customer value are presented in
detail in the remainder of this section. In the process of this presentation we advance
propositions and frameworks that link marketing strategy formulation and
implementation to performance marketing and financial performance outcomes.

Antecedents
Antecedents are pre-existing conditions that constitute qualifications that make
possible proceeding with further action. Therefore:
P5. Strategy, structure, and management/operations are antecedents to
productivity.
P5.1. E-strategy enables efficiency of transactions and relationships through
e-commerce, business intelligence, customer service management,
relationship management, supply chain management, and enterprise
resource planning.
P5.2. Marketing strategy enables effectiveness through better segmentation,
targeting, differentiation and positioning. The focal variable here is
targeting.
P6. Manufacturing/production/operations management, marketing management,
human resource management, and financial management are key functional
area implementation strategies that independently and interactively improve
the effectiveness and efficiency of the firm.
P6.1. Outsourcing results in cost reductions that render value and pricing synergy
between productions/operations and marketing strategy.
P6.2. Internal marketing reinforces measures of empowerment and mobilization of
human resources that render synergy between human resource and marketing
strategy.
P6.3. Marketing engineering of margin and/or asset management, results in superior
return on total assets. Combined with financial management it renders superior
returns on owners investment; i.e. superior returns on strategic management.
EBR Functional area and management levels responsible for each component of the
18,4 strategic profit model are shown in Figure 8.
P7. Marketing strategy implementation is accomplished through the organization
structure of the company and its allied marketing channels. Therefore, the
organization structure is the media through which marketing strategy is
implemented.
276
P8. The organizational structure design enhances effectiveness and efficiency
through outsourcing, leasing, co-marketing, and strategic alliances.
In summary, strategy-structure-management synergies are necessary conditions that
must pre-exist to realize productivity gains necessary to fund the process of value creation.

Processes
A process is defined as a procedure, progression, mean, or course of action to administer
or manage. Providing positive customer experience is a core process in the course of
setting marketing strategy and developing its implementation plan. Therefore:
P9. Providing customer value is the corner stone of the marketing process of
creating a positive customer experience.
P10. Provision of customer value is a necessary but not sufficient condition to
gain customer satisfaction.
P11. Customer satisfaction is a necessary but not sufficient condition to engender
customer loyalty.
P12. Loyalty is a stage in the customers life cycle, shown in Figure 9. Customer
life cycle starts with awareness but it may or may not lead to exploration,
commitment, loyalty and dissolution.
P13. Transactions and relationships are both typologies and outcomes of the
exchange.
P13.1. Transactions are typical outcomes at the awareness and exploration stages
of the customer life cycle.
P13.2. Relationships are typical outcomes at the commitment and loyalty stages of
the customer life cycle.
Once created, the value must be communicated and delivered to move the customer
along the continuum from transactions to relationships. As discussed earlier, value
creation, communication, and delivery are accomplished by developing a marketing
mix and integrating it into a marketing management implementation program
(Figure 2). In essence, formulated marketing strategies, are implemented through
elements of the marketing mix or 4Ps. Recognizing that all relationships start as
transaction, not all transactions end up in relationships, acknowledging the fact that
customers have a life cycle and the fact that not all buyer and sellers want to engage in
relationships, we cast the relationship between marketing strategies and elements of
the marketing mix in terms of the desired type of exchange, i.e. transaction selling or
relationship marketing are shown in Figure 10:
 Marketing
Functional Area
Strategic Profit Model
and Level of strategy
(ROE Model) Management

Margin Net Profit

Sales Force
277
Management Net Sales

Asset Net Sales Marketing Marketing

Management Total Assets Management Managers
(ROA /ROI)

Total Assets Financial Financial

Management
Net Worth (Leverage) Managers Figure 8.
Functional area and level
of management
responsible for each
Net Profit Strategic Top
Management element of the strategic
Net Worth (ROE) Management profit model

Transactions Relationships
Level of Intensity

Intensity
Figure 9.
Customer life cycle
Awareness Exploration Commitment Dissolution exchange typologies and
relationship intensity
Stages of Customer Relationships

P15. Product/service, price, place/channel, and promotion constitutes the

marketing mix of transaction sellers.
P16. Positive customer experience, value, value-adding chain, and integrated
marketing communication mix constitute the marketing mix for relationship
marketers.
Transactions and relationships are both typologies of exchange and marketing outcomes
that mediate positive customer experiences into business and market share outcomes.

Outcomes
An outcome is a result, end product, upshot, effect, and/or conclusion of sequence of
events. The financial outcomes of positive customer experience, shown in Figure 11,
EBR Transaction Relationship Segmentation Targeting Differentiation Positioning
18,4 View View

Product/Service Offer /Experience

278 Price Value

Figure 10.
Transaction and Channels Value Chains
relationship view of
correlates of marketing
Promotion IMCM*
strategy formulation and
implementation
*IMCM=Integrated Marketing Communication Mix

Transactions

Market
Profitability
Share

Figure 11.
Strategic performance
from marketing to Business
Relationships
financial outcomes Share

are effects or results of marketing strategy formulation and implementation processes.

It is a truism that healthy financial results are the upshot of sound marketing strategy
formulation and implementation. Management must follow the guidelines set in the
sequence of antecedents and processes in order to achieve high performance results.
Therefore:
P14. Market share is the immediate marketing metric for transactions.
P15. Business share is the immediate marketing metric for relationships.
P16. Aggregate market share from transactions and relationships is the
intermediate marketing metric.
P17. Profitability, a financial performance measure, is the ultimate marketing
metric of marketing strategy.
P18. Business share and market share are metrics of the effectiveness of
marketing strategy.
P19. Profitability is a metric of the efficiency of marketing strategy.
The above discussion clearly demonstrate that the focus of the marketing process Marketing
model variety is on the customer, i.e. formulation of segmentation, targeting, strategy
differentiation, and positioning strategies designed to create, communicate, and deliver
value to the customer to ensure their satisfaction and gain their loyalty, i.e. achieve
marketing objectives.
Therefore, we capitalize on the above discussion of financial metrics to transition to
the last section of this paper focusing on the strategic planning model variety for 279
marketing strategy formulation and implementation.

A strategic planning framework for marketing strategy formulation and

implementation
As discussed earlier, the focus of the strategic planning model variety is on achieving
corporate financial objectives through designing and implementing product, pricing,
promotion, and place (distribution) programs, i.e. marketing management. We define a
strategic plan for the purposes of this paper as the sum total of a formulated strategy
and tactical management program for its implementation. Strategic planning is, and
rightly so, a company-centered process. The focal point of the process is on financial
outcomes geared to various stages, components, and elements of the strategic plan. The
integrative framework, shown in Figure 12, is illustrative of the processes and
subsequent outcomes.

Strategy Strategy
Formulation Implementation

Marketing Marketing
Corporate Management
Strategy
Strategy
F O
Mission I TIER I R
R G
Differentiation
Segmentation

Vision
Positioning

S
Targeting

M A
Core Value N T Marketing
Core Competence O I R Program
R Z U
I A C
E T T
Growth Branding
U
N I
Strategy O R
T Marketing
A N E
Channels/Value Chains

Mix
Promotion/Integrated
Communication Mix

T A
Product Offering

Pricing Strategy

Functional Area I L
Strategy

Strategies O
N
Competitive
Strategy 4 Ps
TIER II
Figure 12.
Strategic planning
Return on Owners Investment Return on Investment Market Share Return on Sales
framework for marketing
strategy formulation and
Strategic Marketing Planning Metrics implementation
EBR The role of firm orientation
18,4 Marketing strategy emanates from firm orientation, the link that connects all strategies
of the firm. We define firm orientation for the purpose of this paper as a
multi-dimensional variable that reflects the firms strategic, market, exchange,
functional, knowledge, structural, and managerial orientations:
.
Strategic orientation. A selection of a Market Driving or Market Driven strategic
280 design/response system.
.
Market place/space orientation. A selection of customer, competitor, or market
orientation.
.
Exchange orientation. A selection of transaction selling, relationship marketing,
or stage of customer life cycle.
.
Functional orientation. A selection of production, selling, marketing, financial,
legal, or any other functional silo of the firm.
.
Knowledge orientation. A selection of decision support system orientation such as
business intelligence, management information systems, marketing information
systems, or a learning organization with data warehousing, data mining, and
knowledge management systems.
.
Structural orientation. A selection of a base for organizational structure design
such as functional, geographic, product, brand, market, channel, and customer.
.
Managerial orientation. A selection of marketing management, market
management, or relationship management focus.

An apologetic for tiers I and II marketing strategies

The literature casts the 4Ps as marketing mix strategies, a misnomer for what in
actuality is marketing management tactics. The literature is unclear in that respect
mixing strategic and tactical decisions and misinterpreting important, decisions as
strategic decisions. Simply put, strategic decisions are strategy-setting
multi-functional decisions. Tactical decisions are strategy, implementation tactics.
Therefore, while all strategic decisions may be important, not all important decisions
are strategic! Subsequently, marketing mix decisions may be important, but not
strategic!
We developed taxonomy of tiers I and II marketing strategies, shown in Figure 12,
to account for segmentation, targeting, differentiation, and positioning as tier
I strategies and product, pricing, place, and promotion as tier II strategies. The
taxonomy enables reference to product, pricing, distribution, and promotion strategies
without running the risk of mixing setting marketing strategy at the corporate level
with setting product strategy at the product manager level. The taxonomy does not
negate the above argument pertaining to the tactical nature of marketing management
program, marketing mix, or the 4Ps decisions. As shown in Figure 12, we maintain
clear differentiation between marketing strategy formulation (tiers I and II) and its
implementation without losing the connections in-between.
We find the taxonomy intellectually appealing as it casts branding as a strategy
that mediates tier I segmentation, targeting, differentiation, and positioning strategies
into product, pricing, and distribution strategies.
Strategy must drive the structure Marketing
As shown in Figure 12, marketing strategy implementation is accomplished through strategy
the organization structure of the company. Organization structure is defined as the
internal organization, e.g. sales force and external organizations, e.g. allied distributors
and supply chain partners. Therefore:
P20. The organization structure must be redesigned or changed to fit a new
strategy, not vice-versa. 281
P21. Inter- as well as intra-organizational management measures and
coordination mechanisms must be instituted to ensure effective
implementation of marketing strategy.

Marketing strategy metrics

As shown in Figure 12, strategic planning model metrics are primarily financial
performance measures that reflect marketing results such as market share and sales
volume. The strategic profit model, shown in Figure 8, integrates these financial
performance measures and designate management level and function that should be
their guardian.
P22. The key financial metric is return on owners investment or return on net
worth, a metric relevant to top management responsible for corporate
strategic direction.
P23. The key marketing metric is market share, a metric relevant to the chief
marketing officer in charge of formulating marketing strategy.
P24. Financial-marketing metrics include return on total assets, margin
management or return on sales and sales volume.
P24.1. Return on total assets is a metric relevant to the chief marketing officer or
sales managers.
P24.2. Margin management or return on sales is a metric relevant to sales
managers or the salespersons.
P24.3. Sales volume is a metric relevant to salespersons.

Integrating the strategic planning and the marketing strategy process

models
Financial metrics reflect good/bad marketing performance. Therefore, we conclude
with an Integrative Framework for Marketing Strategy Formulation and
Implementation, shown in Figure 13. The framework integrates the strategic
planning and the marketing strategy process models. The framework highlights the
mediating role of positive customer experience in achieving strategic plan financial
goals.

Conclusion
In this paper we present taxonomy and integrative frameworks for marketing strategy
formulation and implementation. We advance propositions that clearly differentiate,
but interrelate, marketing strategy formulation and implementation processes and
EBR Strategy Strategy
18,4 Formulation Implementation

Marketing Marketing
Corporate
Strategy Management
Strategy
282 Mission
F
I TIER I
O
R

Differentiation
Segmentation
Vision R G

Positioning
Targeting
M A S
Core Value N T Marketing
Core Competence O I R Program
R Z U
I A C
Growth E Branding T T
N I U
Strategy R
T O Marketing
A N E

Channels /Value Chains

Mix

Promotion/Integrated
Communication Mix
T A
Product Offering

Pricing Strategy
Functional Area
I L

Strategy
Strategies O
N
Competitive
Strategy 4 Ps
TIER II

Positive Customer Experience

Value Satisfaction Loyalty
Figure 13.
An integrative framework
for marketing strategy Return on Owners Investment Return on Investment Market Share Return on Sales
formulation and
implementation Strategic Marketing Planning Metrics

recast the strategic planning financial-oriented model and the marketing strategy
process models into sets of related frameworks designed to demonstrate that:
.
the road to healthy financial results must first be paved by sound marketing
strategies;
.
explicitly state and underscore the role of branding and organizational strategies in
mediating formulated marketing strategy into actionable marketing programs, and;
.
broaden the concept of firm orientation to reflect its role in mediating corporate
strategy into a set of functional strategies including marketing.

We view marketing strategy formulation as an interactive and iterative two-tier process:

(1) Segment the market, select target segments, design the offer to fit target market
needs, brand naming the offer to differentiate it from the competitors and
position it in the customers mind.
(2) Set product/brand, pricing, distribution, and promotion strategies as a prelude to
tactical strategy implementation decisions involving the 4Ps or the marketing mix.
We examined marketing strategy formulation and implementation in the context of Marketing
two alternative models, marketing strategy process and strategic planning models. strategy
The focus of the marketing strategy process model is on the formulation of
segmentation, targeting, differentiation, and positioning strategies to create,
communicate, and deliver the value to the customer resulting in gaining customer
satisfaction and loyalty; i.e. marketing objectives. The focus of the strategic planning
model is on achieving corporate financial objectives through the implementation of 283
product, pricing, promotion, and place (distribution) programs. Both frameworks
underscore the mediating role of targeting and branding strategies. Targeting
mediates the offer to the customer. Branding mediates differentiation of the offer from
the competitors. Branding mediates positioning of the offer in the customers mind.
The presentation is tantamount to a meta-theory of marketing strategy formulation
and implementation because the propositions advanced throughout the paper clarify
concepts and explore alternative frameworks useful in understanding concept
differences and relationships. The propositions and frameworks classify the concepts
as sets of dependent and independent variables and highlight the role of mediating
variables such as branding, firm orientation, and organizational structure in
transitioning strategy from the formulation stage to the implementation stage.
The taxonomy and frameworks, albeit based on positive observations, are
presented as normative theoretical propositions. It is hoped that this paper is a step in
the right direction for academicians to design and implement research programs to test
the validity of these propositions and for practitioners to guide their decision making in
the process of marketing strategy formulation and implementation.

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