A resource-advantage perspective of product–market strategy performance & strategic capital in high technology firms

Contrary to common misconceptions, firms tend generally to remain constant in their strategic approach to markets and rarely deviate from their prevailing strategic archetype. Consequently, the effectiveness of a firm's product–market strategy is as important as its persistence in achieving overall strategic performance. Adopting a resource-advantage perspective, we examine the extent to which resource bundles differ among firms within a product–market strategy performance typology. Analyzing data generated from high-technology industrial manufacturers, we find that successful strategists are endowed with significantly greater levels of resources–that include ‘strategy championing’, ‘strategy commitment’, ‘implementation support’, ‘implementation effectiveness’, ‘learning’, and ‘memory’–in contrast with unsuccessful strategists, hopeful strategists, and fortunate strategists. Further, important inter-group differences are identified and discussed, along with the implications of this study for researchers and marketing managers.