Designing New Strategic Reference Points for Elucidating Lock-In Marketing Strategy Using Thematic Analysis

Subject Areas : Business Strategy

samira bekr ¹ , Hormoz Mehrani ² , Seddighe Tootian ³ , Masoud Qorban Hosseini ⁴

1 - Ph.D. in Business Administration, Islamic Azad University, Saveh, Iran
2 - Assistant Professor, Department of Management, Ghazali Higher Education Institution, Qazvin, Iran
3 - Assistant Professor, Department of Management, Islamic Azad University, Tehran East, Iran
4 - Assistant Professor, Department of Management, Islamic Azad University, Saveh, Iran

Received: 2023-07-23 Accepted : 2023-09-28 Published : 2024-01-01

Keywords: Lock-in marketing strategy, : Strategic reference points, Delta model, Thematic analysis,

Abstract :

Background: Market strategy design involves the analysis of market position, identification of market opportunities, and understanding the strengths and weaknesses of an organization. It aims to create favorable competitive conditions by defining different market segments. In recent years, researchers have made efforts to develop models that can effectively determine ideal marketing strategies and promote their alignment and synergy at the organizational level.Objective: This study aims to design a comprehensive marketing strategy development and alignment model, which has been relatively understudied in academic research.Method: The present research builds upon the Strategic Reference Points (SRP, S) theory and utilizes thematic analysis to formulate a new framework and strategic reference points for an industry-specific marketing strategy. It also addresses the coordination between marketing strategies at both the business and corporate levels, employing the Delta model.Findings: A thematic network analysis was conducted based on interviews with industry experts. The research findings identified key dimensions of strategic reference points and provided theoretical and operational definitions of the power industry concept. These dimensions, namely "customer engagement" and "switching costs," were incorporated into the final model design. Leveraging the Delta model, the study resulted in the formulation of the Lock-in marketing strategy model. The research findings and the proposed model offer valuable insights and practical strategies to overcome current industry challenges, enhance agility, and facilitate effective decision-making in the field.

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