A Review of the Resource-Based View (RBV) in Strategic Marketing: Leveraging Firm Resources for Competitive Advantage

Abstract

Abstract: This article provides a comprehensive review of the Resource-Based View (RBV) framework in strategic marketing, exploring how firms leverage internal resources to create and sustain competitive advantage. The objective of this review is to examine the theoretical foundations of RBV, its application in marketing strategy formulation, and its evolving role in the digital age. Using a descriptive analysis method, the article synthesizes existing literature, drawing insights from case studies and empirical research on the use of tangible and intangible resources in marketing strategies. The review analyzes how resources such as brand equity, human capital, and technological capabilities are deployed to develop unique marketing strategies that differentiate firms in competitive markets. It also discusses the limitations of RBV, particularly its focus on internal resources and its challenges in addressing market dynamism. Recent developments in the RBV framework are explored, emphasizing the growing importance of digital resources and data-driven marketing in sustaining competitive advantage. The findings reveal that firms that align their marketing strategies with their internal resources are better equipped to respond to market changes, especially in the context of digital transformation. The article also highlights the practical challenges firms face in synchronizing resources and adapting to rapid technological and market shifts. In conclusion, the RBV framework remains a valuable tool for marketing practitioners seeking to create long-term competitive strategies, but it must evolve to account for the increasing significance of digital assets and external market factors. Future research opportunities are identified, particularly in exploring how firms can balance the exploitation of existing resources with the exploration of new innovations in the digital age.