Product‐market positioning and prospector strategy: An analysis of strategic patterns from the resource‐based perspective

Adopts a firm-level approach and attempts to develop our understanding of the means through which different types of firm compete. Addresses specifically, a lacuna in existing knowledge by investigating a fundamental research question: “How do firms pursuing a prospector mode of market strategy differ from those pursuing a defender, analyzer or reactor strategy in terms of the product-market positioning attributes they exhibit?“ Miles and Snow provide the basis for the assessment of strategy types, while “strategic market positioning” is characterised as the product-market positions established by the firm. Conceptualises strategic market positioning as the ways in which firm-specific resources and assets are deployed to build positional advantages in product-markets. Presents analyses of data generated from high technology, medium and large, industrial manufacturing firms and discusses these results in the light of previous findings. Places particular emphasis on the distinguishing characteristics of prospector-type firms. Identifies a number of potential research avenues from this study and discusses several implications for executives.