Strategic Marketing and Competition

The Austrian Foundations of Resource-Advantage Theory

  • Fernando Antonio Monteiro Christoph D'Andrea Universidade Federal do Rio Grande do Sul
Keywords: Strategic Marketing, Austrian School of Economics, Competition, Business Competition, Competitive Advantagee, Competitive advantage

Abstract

This paper investigates how the Austrian School of Economics is able to contribute to the study of Strategic Marketing. This is a qualitative and exploratory study and uses, on the one hand: a general theory of competition called Resource Advantage Theory; and on the other hand: the Austrian Triad - Action, Time and Knowledge, to better understand Business competition and what leads companies to achieve and maintain Competitive Advantage. Using those two theoretical frameworks I analyze in an unprecedent and detailed manner each one of the premises of the general theory of competition using the ideas of the different authors of the Austrian School and conclude that the Resource Advantage theory is perfectly in line with the different theoretical developments of the Austrian School of Economics and that the latter has a lot to contribute to the evolution of the understanding of Strategic Marketing in general, especially in what concerns market competition. Finally, I present conclusions, limitations and suggest future research to be put forward by people interested in the points of contact between Strategic Marketing / Business Administration and the Austrian School of Economics.

Downloads

Download data is not yet available.

References

ABREU, Mariana Piaia. Metodologia Brasileira de Análise de Atos de Concentração Horizontal: A Perspectiva da Escola Austríaca vs. o Mainstream. Monografia De Graduação. Curso De Ciências Econômicas, Universidade Federal De Santa Maria, Santa Maria, RS, Brasil, 2011.
ADNER, Ron and ZEMSKY, Peter.A demand-based perspective on sustainable competitive advantage. Strategic Management Journal, Chicago, IL, USA, v.27, 2006.
Advertising Hall of Fame (2017). Ralph Starr Butler. Disponível em: http://www.advertisinghall.org/members/member_bio.php?memid=566. Acesso em: 14 Set 2017.
ALDERSON, Wroe. Information Flows in Heterogeneous Markets. In: WOLLISCROFT, B. TAMILIA, R. D.; SHAPIRO, S. J. A Twenty-First Century Guide to Aldersonian Marketing Though, Academic Publishers, Boston/Dordrecht/London, 1965b.
ALDERSON, Wroe. Marketing Behavior and Executive Action: A Functionalist Approach to Marketing Theory. Homewood, IL, 1957.
ALDERSON, Wroe. The Heterogeneous Market And The Organized Behavior System. In WOLLISCROFT, B. TAMILIA, R. D.; SHAPIRO, S. J., A Twenty-First Century Guide to Aldersonian Marketing Though, Springer/Kluwer Academic Publishers, Boston/Dordrecht/London, 2006.1965a.
AMERICAN MARKETING ASSOCIATION (2017). Definition of Marketing. Disponível em: https://archive.ama.org/Archive/AboutAMA/Pages/DefinitionofMarketing.aspx. Acesso em: 14 Set 2017.
BAGOZZI, R. P. The Evolution of Marketing Thought. In: MACLARAN, P.; SAREN, M.; STERN, B.; TADAJEWSKI, M. Handbook of Marketing Theory. Los Angeles: Sage, 2010.
BAGOZZI, R. P. 'Markeing as an Organized Behavioral System of Exchange. Journal of Marketing, Chicago, 1974.
BAGOZZI, R. P. Marketing as Exchange. Journal of Marketing, Chicago, 1975.
BARBIERI, Fábio. O Processo de Mercado na Escola Austríaca Moderna. Dissertação de Mestrado. Universidade de São Paulo, FEA/USP, 2001.
BARNEY, J. B. The resource based view of strategy: Origins, implications, and prospects. Editor of Special Theory Forum in Journal of Management, Los Angeles, USA, 1991.
BARNEY, J. B.; ARIKAN, A. M. The Resource-based View: Origins and Implications. in M. A. Hitt, R. E. Freeman, J. S. Harrison, The Blackwell Handbook of Strategic Management. Malden, MA: Blackwell Publishers Inc, 2001.
BARTELS, Robert. The history of marketing thought. Grid Publicatiosn, Columbus, OH, USA, 1976.
BECKER, S. Human Capital: a theoretical and empirical analysis, with special reference to education.3rd ed. The University of Chicago Press, Chicago, USA, 1993.
BOETTKE, Peter J. Information and Knowledge: Austrian Economics in Search of its Uniqueness. The Review of Austrian Economics, Auburn, Alabama, USA, 2002.
BYLUND, P., MCCAFFREY, M. A theory of entrepreneurship and institutional uncertainty. Journal of Business Venturing, Holanda, 2017.
BYLUND, Per. The Problem of Production: A new theory of the firm. Routledge, New York, NY, USA, 2016.
CALLAHAN, Gene. Economics for Real People: An Introduction to the Austrian School. Ludwig von Mises Institute, Auburn, Alabama, USA, 2002.
CHRISTENSEN, Clayton M. The past and future of competitive advantage, MIT Sloan Management Review, Cambridge, Massachusetts, USA, 2001.
CONVERSE, P. D. Development of marketing theory: Fifty years of progress. In H. G. Wales (Ed.), Changing perspectives in marketing. Urbana, Illinois, 1951.
COPELAND, M. T. Relations of consumers’ buying habits to marketing methods. Harvard Business Review, Brighton, Massachusetts, 1923.
DAY, G. S.; WENSLEY, R. Assessing advantage: a framework for diagnosing competitive superiority.Journal of Marketing, Chicago, 1988.
DICKSON, Peter. The static and dynamic mechanics of competition: a comment on Hunt and Morgan’s Comparative Advantage Theory. Journal of Marketing, Chicago, IL, USA. v. 60, nº 4, 1996.
DRUCKER, P. The theory of business. Harvard Business Review, 75, Sept./Oct.Brighton, Massachusetts. 1994.
ETZIONI, Amitai. The Third Sector and Domestic Missions. Public Administration Review, Medford, MA USA, v.33, n. 4., jul/ago., 1973.
FOSS, Nicolai J.; Klein, Peter G. Organizing Entrepreneurial Judgement: A new approach to the firm. Cambridge University Press. Cambridge, UK, 2012.
GARISSON, Roger W. Austrian Capital Theory, Mises University 2017. Disponível em: . Acesso em: 21 Set 2017.
GARISSON, Roger W. Austrian Macroeconomics. A Diagramatical Exposition. Ludwig von Mises Institute, Auburn, Alabama, 2010. 1978.
GARISSON, Roger W. Time and Money. The macroeconomics of Capital Structure. Routledge, London, UK. 2001.
GIANTURCO, Adriano. O empreendedorismo de Israel Kirzner. Tradução de Isadora Darwich e Thaiz Batista, Instituto Ludwig Von Mises Brasil. São Paulo. 2014.
HAMEL, Gary; PRAHALAD, C. K. Strategic intent, Harvard Business Review, Brighton, Massachusetts, 1989.
HAYEK, F. A. 'Economics and knowledge', Economica, UK, 1949.
HAYEK, F. A. Prices and Production. Augustus M. Kelly, Publishers New York, USA.1931; 1967.
HAYEK, F. A. The Use of Knowledge in Society. American Economic Review, Nashville, n. 4, 1945.
HELMS, Marilyn M., NIXON, Judy. Exploring SWOT analysis – where are we now? A review of academic research from the last decade. Journal of Strategy and Management, New Jersey, NJ, USA, v.3, 2010.
HOLCOMBE, Randall G. Entrepreneurship and Economic Progress. Routledge, New York, NY, USA, 2007.
HUNT, S. D; MORGAN, R. M. The resource-advantage theory of competition: dynamics, path dependencies, and evolutionary dimensions, Journal of Marketing, Chicago, 1996.
HUNT, Shelby D. A general theory of business marketing: R-A Theory, Alderson, the ISBM framework, and the IMP theoretical structure. Industrial Marketing Management. New York, NY, USA. v. 42, 2013.
HUNT, Shelby D. A general theory of competition: issues, answers and an invitation. European Journal of Marketing, London, UK, 2001.
HUNT, Shelby D. A General Theory Of Competition: Resources, Competences, Productivity, Economic Growth (Marketing for a New Century) 1st Edition. SAGE Publications, Inc. Los Angeles, 2000.
HUNT, Shelby D. Developing successful theories in marketing and R-A Theory: Historical evolution? Other drivers? What’s important? What’s next? Academy of Marketing Science Review, v.1, Ruston, LA, USA, 2011.
HUNT, Shelby D. Foundations of Marketing Theory: Toward a General Theory of Marketing. Armonk: M. E. Sharpe, s/l, 2002a.
HUNT, Shelby D. Resource-Advantage Theory and Austrian Economics. In: FOSS, Nicolai J; KLEIN, Peter (ed.). Entrepreneurship and the Firm Austrian Perspectives on Economic Organization, s/l, 2002b.
HUNT, Shelby D. Resource-Advantage Theory: An Evolutionary Theory of Competitive Firm Behavior? Journal of Economic Issues, New York, NY, USA, 1997.
HUNT, Shelby D.; LAMBE C. J. Marketing’s contribution to business strategy: market orientation, relationship marketing and resource-advantage theory. International Journal of Management Reviews, London, 2000.
HUNT, Shelby D.; MORGAN, R. M. Resource-advantage theory: a snake swallowing its tail or a general theory of competition? Journal of Marketing, Chicago,1997.
HUNT, Shelby D.; MORGAN, R. M. The comparative advantage theory of competition, Journal of Marketing, Chicago, 1995.
HUNT, Shelby D.; MORGAN, R. M. The Resource-Advantage Theory Of Competition A Review. In: MALHATORTA, Naresh (ed.). Review of Marketing Research. Emerald Group Publishing, Bingley, West Yorkshire, 2008.
IORIO, Ubiratã Jorge. Ação, Tempo e Conhecimento: A escola austríaca de Economia. Instituto Mises Brasil, São Paulo, Brasil, 2011.
JACOBSON, R. The “Austrian” School of Strategy. Academy of Management Review, v.17, n.4, 1992.
KIRZNER, Israel M. Competição e Atividade Empresarial. Instituto Liberal e Instituto Ludwig von Mises Brasil, 2da Edição, tradução de Ana Maria Sarda, São Paulo, SP, 1973.
KIRZNER, Israel M. Entrepreneurial Discovery and the Competitive Market Process: An Austrian Approach. Journal of Economic Literature, Nashville, TN, USA, 1997.
KLEIN, Jeremy. Beyond competitive advantage.Strategic Change, Nova Jersey, EUA, 2002.
KLEIN, Peter G. Hayek and Entrepreneurship. Disponível em: . Acesso em: 04 Out 2017.
KLEIN, Peter G. The Capitalist & the Entrepreneur: Essays on Organizations & Markets. Ludwig Von Mises Institute, Auburn, Alabama, USA, 2010.
KOTLER, P.; LEVY, S. Broadening the Concept of Marketing. Journal of Marketing, Chicago, IL, USA, 1969.
LACHMANN, L. M. Capital and its Structure. Institute for Human Studies. Original edition published by Bell & Sons, Ltd., on behalf of the London School of Economics and Political Science in 1956.1978.
LACHMANN, L. M. Ludwig von Mises and the Market Process. em Lachmann, s/l, 1977. 1971.
LACHMANN, L. M. The Market as an Economic Process. Oxford: Basil Blackwell, Nova York, 1986.
LAZER, W. Marketing Changing Social Relationships. Journal of Marketing, Chicago, 1969.
LEWIN, Peter (n/d). Ludwig Lachmann (1906-1990): Life and Work. Disponível em: . Acesso em: 16 Out 2017.
LEWIN, Peter. Hayekian equilibrium and change. Journal of Economic Methodology, London, UK, 1997.
LUBIT, Roy. Tacit knowledge and knowledge management: the keys to sustainable competitive advantage. Organizational Dynamics, London, UK, 2001.
MARTIN, Adam. What We Mean by Individualism. Disponível em: . Acesso em: 19 Out2017. 2005.
MCCAFFREY, M. The Economics of War. Apresentação na Mises University, Auburn, Al., EUA. Disponível em: . Acesso em: 21 Set 2017.
MILES, M. P., DARROCH, J. What is a competitive Advantage. In Wiley Encyclopedia of Management. 3rd Edition. Ed. COOPER, Cary L. New Jersey, NJ, USA, 2014.
MISES, Ludwig Von. Ação Humana: Um tratado de Economia. Instituto Ludwig von Mises Brasil, São Paulo/SP, Brasil, 2010.
MISES, Ludwig Von. Human Action: A Treatise on Economics. The Scholar’s Edition. Edited by Herbener, Jeffrey M; Hoppe, Hans-Hermann; Salerno, Joseph T. Ludwig von Mises Institute, Auburn, Alabama, USA.1949; 1998.
MISES, Ludwig Von. Profit and Loss. Ludwig von Mises Institute, Auburn, Alabama, USA. 2008.
NORTH, D.C. Institutions, Institutional Change, and Economic Performance, University of Cambridge, Cambridge, UK, 1990.
PARANAIBA, Adriano. Praxeology and Space Syntax: An epistemological articulation in favor of urban mobility as human action. In Austrian Economics Research conference, Auburn, Alabama, USA, 2017.
PORTER, M. Competitive advantage, New York: Free Press, 1985.
PORTER, M. The Five Competitive Forces That Shape Strategy. In HBR’s Must Reads on Strategy. Harvard Business School Publishing Corporation. Brighton, Massachusetts. 1979.
ROCKWELL Jr., Llewelly H. Why Austrian Economics Matter. Ludwig Von Mises Institute, Auburn, Alabama, USA, 2009.
ROSSI, R. M.; SILVA, A. L. Vantagem Competitiva: Operacionalizando O Conceito A Partir Da Resource-Advantage Theory. Revista Ibero-Americana de Estratégia - RIAE, São Paulo, v. 8, n. 2, jul./dez. 2009.
ROTHBARD, Murray (1990). The Future of Austrian Economics. Mises Institute, Auburn, Alabama, USA. Disponível em: . Acesso em: 23 Set 2017.
ROTHBARD, Murray. Man, Economy and State with Power and Market, Scholar’s Edition. 2nd Edition. Ludwig Von Mises Institute, Auburn, Alabama, USA.1969, 2004.
ROWE, W. G.; BARNES, J. G. Relationship marketing and sustained competitive advantage. Journal of Market Focused Management, New York, NY, USA, 1998.
SALERNO, Joseph T. Imperialism and the Logic of War Making. The Independent Review, Oakland, CA, USA, n. 3, 2008a.
SALERNO, Joseph T. The Entrepreneur: Real and Imagined. Quarterly Journal of Austrian Economics 11. Auburn, AL, USA, 2008b.
SCHUMPETER, Joseph A. Capitalismo, Socialismo e Democracia. Fundo de Cultura, Rio de Janeiro, RJ, Brasil, 1942.
SHAW, Eric H; LAZER, William; PIROG III, Stephen F. Wroe Alderson: father of modern marketing, European Business Review, London, UK, v.6, 2007.
SHAW. E. H.; JONES, D. G. B.; MCLEAN, P. A. The Early Schools of Marketing Thought. In: MACLARAN, P.; SAREN, M.; STERN, B.; TADAJEWSKI, M. Handbook of Marketing Theory. Los Angeles: Sage, 2010.
TELLEZ-ZEPEDA, Claudio A. Editorial. Escola Austríaca de Economia: Desafios e Perspectivas. MISES: Revista Interdisciplinar de Filosofia, Direito e Economia, São Paulo. V 2 (8), jul-dez 2016.
WEERAWARDENA, Jay; O'CASS, Aron. Exploring the characteristics of the market-driven firms and antecedents to sustained competitive advantage Industrial Marketing Management. New York, NY, USA, v.3, 2004.
Published
2018-04-24
How to Cite
D’Andrea, F. A. (2018). Strategic Marketing and Competition. MISES: Interdisciplinary Journal of Philosophy, Law and Economics, 6(1). https://doi.org/10.30800/mises.2018.v6.75
Section
Original Research Articles