Strategy is about seeking new edges in a market while slowing the erosion of present advantages. Effective strategy moves are grounded in valid and insightful monitoring of the current competitive position coupled with evidence that reveals the skills and resources affording the most leverage on future cost and differentiation advantages. Too often the available measures and methods do not satisfy these requirements. Only a limited set of measures may be used, depending on whether the business starts with the market and uses a customer-focused approach or alternatively adopts a competitor-centered perspective. To overcome possible myopia, the evidence of advantage should illuminate the sources of advantage as well as the manifestations of superior customer value and cost superiority, and should be based on a balance of customer and competitor perspectives.

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The traditional paradigms of marketing are expanding to incorporate negotiated exchanges with internal and external coalitions in the pursuit of competitive advantage. This paper explores the implications of a broader paradigm for setting priorities in research and theory development in strategic marketing. These priorities build on conceptual and methodological strengths within marketing. The perspective taken in this paper also contributes to the continuing dialogue about the appropriate role for the marketing function in addressing strategic issues.

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