Marketing Theory: Foundations, Controversy, Strategy, and Resource-advantage Theory

Citation

Hunt, S. D. (2010). Marketing Theory: Foundations, Controversy, Strategy, and Resource-advantage Theory. Routledge.

Chapter Summary

The book has fifteen chapters in four parts, with a preface, references and name and subject indexes. According to the publisher, it is a thoroughly revised and updated version of an earlier work by the same author. It offers a philosophy-of-science "tool kit" for developing and analyzing theories, law-like generalizations and explanations in marketing science, and it argues that resource-advantage (R-A) theory provides the foundation for a general theory of marketing and a theoretical base for business and marketing strategy. Four chapters on the "philosophy debates" within the field are adapted and updated from the author's Controversy in Marketing Theory.

Part 1, Chapters 1–2: Introduction; On the Marketing Discipline

The opening part sets out the nature of marketing and of science, and what is meant by the marketing discipline. The publisher says that the author focuses on the discipline's multiple stakeholders.

Part 2, Chapters 3–8: The Foundations of Marketing Theory

Three pairs of chapters, each with a "morphology" chapter and an "issues and aspects" chapter: explanation (Chapters 3 and 4: On the Morphology of Explanation; Explanation: Issues and Aspects), scientific laws (Chapters 5 and 6: On the Morphology of Scientific Laws; Scientific Laws: Issues and Aspects), and theory (Chapters 7 and 8: On the Morphology of Theory; Theory: Issues and Aspects). This is the tool kit for judging what counts as an explanation, a law and a theory in marketing.

Part 3, Chapters 9–12: Controversy in Marketing Theory

The four chapters adapted from Controversy in Marketing Theory, each taking up one debate in relation to marketing research: scientific realism (Chapter 9: On Scientific Realism and Marketing Research); science and non-science and qualitative methods (Chapter 10: On Science/Nonscience, Qualitative Methods, and Marketing Research); truth (Chapter 11: On Truth and Marketing Research); and objectivity (Chapter 12: On Objectivity and Marketing Research).

Part 4, Chapters 13–15: Toward a General Theory of Marketing

The constructive part. Chapter 13, The R-A Theory Research Program, presents resource-advantage theory as a research program. Chapter 14, Competition Theory, Alderson's Market Processes Theory, and R-A Theory, compares R-A theory with competition theory and with Wroe Alderson's market processes theory. Chapter 15, Strategy and R-A Theory, relates the theory to business and marketing strategy.

Key Concepts

Parts 1–2: Foundations

• Marketing as a discipline with multiple stakeholders.
• Explanation, scientific laws and theory: the three categories whose structure ("morphology") and issues the book analyzes in turn.

Part 3: Controversy

• Scientific realism: the philosophical position the book examines in relation to marketing research.
• Science and non-science; qualitative methods.
• Truth and objectivity as questions for marketing research.

Part 4: A General Theory

• Resource-advantage theory: the theory of competition that the author proposes as the foundation for marketing and strategy.
• Competition theory and Alderson's market processes theory: the other theories against which R-A theory is set.

Critical Analysis

Strengths

• A deliberate order from tools to theory. Parts 1–3 prepare the tools and the arguments, and Part 4 uses them to present a theory, so the reader sees how R-A theory is meant to meet the criteria the earlier parts set for good theory.
• Systematic treatment of explanation, laws and theory. Each receives a pair of chapters, one on structure and one on issues.
• Engagement with the philosophy debates. The publisher highlights the chapters on scientific realism, qualitative methods, truth and objectivity, which suit readers who want the methodological arguments within marketing and not only the conclusions.
• Connection to strategy. The final chapter links the abstract theory to business and marketing strategy.

Limitations

• Not a practice text. The contents contain no chapters on segmentation, pricing, branding or marketing plans. A reader looking for the tools of marketing management needs a different book.
• Dependence on one author's program. Part 4 develops the author's own resource-advantage theory, and Part 3 gives his positions in a long-running debate; a reader should compare these with other positions in the literature.
• Philosophical demands. The tone is that of a treatise, and the vocabulary of philosophy of science (realism, truth, objectivity) assumes readers willing to follow sustained argument.

Where It Fits in the Course

Hunt's book is the theory-of-marketing title in the marketing list, and it belongs after the practice-oriented books. Kotler and Armstrong's Principles of Marketing, the OpenStax text and Jobber and Ellis-Chadwick's Principles and Practice of Marketing introduce the subject; Kotler and Keller's Marketing Management and Ferrell, Hartline and Hochstein's Marketing Strategy develop frameworks and plans. Hunt asks what kind of knowledge such frameworks represent and how theories in marketing should be judged.

It is most useful to readers who have taken a marketing management or strategy course and now want to understand the discipline's foundations, for example before writing a dissertation or reading the academic literature. Chapter 15 can be read alongside the strategy text for a view of how competition theory bears on strategy.

How to Use This Book

The book suits doctoral and advanced master's students and researchers in marketing and strategy.

• Core: Part 2 for the tool kit, then Chapters 13–15 for the theory itself.
• Debates: Chapters 9–12 can be read as a set, or individually when a particular question is relevant (for instance Chapter 10 for those using qualitative methods).
• Order: read Chapters 1–2 first; then either follow the book in order or jump from Part 2 to Part 4 and return to Part 3 later.
• Alongside: pair the book with a marketing strategy text, and use the references to follow up the debates in the journal literature.