CONCEIVING A MARKETING STRATEGY IN THE ERA OF DYNAMIC CAPABILITIES

Dynamic capabilities are the processes managers use to modify their organisation in order to 'keep in touch' with changes occurring in their industrial setting. This paper contributes by informing strategic marketing academics and practitioners about the potential implications the era of dynamic capabilities has on marketing strategy formulation and implementation, otherwise known in practice as the SOSTAC process. This paper advocates strategic marketing should be an incessant, habitual, entrepreneurial opportunity sensing managerial skill which is incremental in nature allowing firms to adapt to or even drive industrial change through tactical flexibility, trial and reflective learning with the relentless monitoring of actions taken.