Journal publication » Academic article
Can theoretical knowledge and application yield competitive advantage?
Marketing Intelligence & Planning ; Volume 25. p. 232–240. 2007
Grønhaug, Kjell; Sogn-Grundvåg, Geir
Purpose – Given that marketing practitioners often perceive theory as something abstract, with little relevance to their work, the objective is to explain why and how competent application of theory can be highly useful and even lead to competitive advantage. Design/methodology/approach – Conceptualisation and personal interpretation, with real-world case examples. Findings – Knowledge of relevant theoretical principles, if combined with thorough contextual knowledge and applied in a competent manner, can lead to competitive advantage based on better judgement and decisions. Originality/value – The arguments and conclusions presented in the paper improve understanding of the potentially vital role of theory in practice, and provide a credible alternative to the common misperception that theory is of little value to the practitioner. Keywords Marketing, Experience, Competitive advantage Paper type Viewpoint