Product-market
Product-market positioning positioning
and prospector strategy
An analysis of strategic patterns from the 1409
resource-based perspective
Received November 2001
Robert E. Morgan
School of Management and Business, University of Wales Aberystwyth,
Aberystwyth, UK
Carolyn A. Strong
Cardiff Business School, Cardiff University, Cardiff, UK, and
Tony McGuinness
School of Management and Business, University of Wales Aberystwyth,
Aberystwyth, UK
Research method
Sampling considerations
The sampling frame was compiled from the Kompass directory of UK firms
and, following a systematic random selection, a list of 1,000 medium and large,
high technology, industrial manufacturers was generated for survey purposes.
The threshold-level for minimum firm size was 100 employees. This criterion
was employed in order to exclude smaller firms that typically lack a
comprehensive product-market position portfolio and tend to compete based on
niche strategy indicating the unique nature of their decision making (Lyles
et al., 1993; Dodge et al., 1994). This control for firm size both accommodates the
fact that the large firms dominate the high technology sector (Hughes, 1999)
and reduces the effect of spurious results attributed to type of firm (see Murphy
et al., 1996). In circumscribing the nature of high technology firms, various
formal approaches such as the Organization for Cooperation and
Development’s criterion of a research and development to sales ratio of more
than 4 per cent were considered. However, for the purposes of this study a
liberal interpretation of high technology was applied which included those
firms characterised by: rapid product innovation; exploitation of frequent new
technologies in production processes; a high level of technical and scientific
expertise necessary for operations; and research and development being a key
driver underlying the future growth of the industry. In practice, the main proxy
indicator used by governments and industry to determine high technology
sectors exhibiting these characteristics tends to be Standard Industry
Classification codes. Consequently, the following sectors were sampled:
instrument engineering and precision equipment; electrical, electronic, data Product-market
processing and nucleonic equipment; advanced mechanical engineering; positioning
chemical and oil-related; and selected heavy industry and high technology
transportation plant and equipment.
A single key-informant was targeted in each sampling unit, namely the head
of marketing. Despite the fact that it has been argued that measurement error
can arise from differences between informants within the same sampling unit
1419
(Bowman and Ambrosini, 1997; Phillips, 1981), we contend that this method is
appropriate for use in this study because of the particular subject matter under
investigation. The nature of the empirical approach and the conceptual
character of the study justified why a single key-informant, as a senior
executive of a firm, should be targeted. Guidelines provided by Huber and
Power (1985) for using the key-informant technique were followed in an
attempt to minimise the effects of potential systematic and random sources of
measurement error.
1422
Table I.
analysis of
Principal components
product-market position
Factor loadinga
(CA1) (CA2) (CA3) (CA4) (CA5) (CA6)
Production Product
process Marketing Quality Price-cost scope and Differentiation
Product-market position orientation capabilities orientation leadership development focus Communality
Table I.
1423
EJM competitive methods over the past three years.” The response scale ranged
37,10 from “Not at all considered” (1) to “Major emphasis” (7). The three-year
retrospective time-horizon was used to take account of year-to-year or seasonal
variations common in competitive marketplaces.
CA1: production process orientation 3.90 1.52 0.74 0.84 0.85 0.74 –
CA2: marketing capabilities 4.40 1.26 0.67 0.79 0.68 0.71 0.65
CA3: quality orientation 5.33 1.01 0.67 0.70 0.76 0.70 0.68 1425
CA4: price-cost leadership 3.76 1.20 0.55 0.76 0.72 0.71 –
CA5: product scope and development 5.28 1.29 0.53 0.84 0.81 – –
CA6: differentiation focus 4.71 1.47 0.53 0.86 0.79 – – Table II.
Note: a Pearson’s r. All coefficients are statistically significant where p , 0.001 Scale statistics
Discussion
The pattern of results in Table I supports our conceptualisation of
product-market positions as boundary-spanning activities that connect a
firm’s internal resource base and its external positions. In so doing they also
suggest adding a pointer to the direction in which strategic management
research might be developed. Although some researchers (e.g. Collis and
Montgomery, 1995) explicitly view the resource-based perspective as one that
combines the internal analysis of the firm with an external analysis of its
EJM
37,10
1426
Table III.
Differences in
product-market
positions among
strategic patterns
Strategic pattern
Prospector Defender Analyser Reactor Univariate Duncan’s test
Product-market position dimension (P) (D) (A) (R) F-value ( p , 0.05)
Note
1. On the basis that certain studies do not include reactor-type firms.
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