Marketing Agility: A Critical Review of Literature
Abstract
The current business environment is highly dynamic, with frequent changes in customer needs and technology. The success of business firms in such a scenario depends on their ability to adopt and engage in agile marketing practices. This article offers a critical review of existing literature on the concept of marketing agility, beginning with definitions, the various dimensions of marketing agility, as well as the antecedents and market factors that influence the need for marketing agility. The article also reviewed the various obstacles to marketing agility that exist in business firms as well as the benefits of agile marketing practices. In terms of theoretical perspectives, the Resource-Based Theory and the Dynamic Capabilities Theory were examined in detail to help explain how marketing agility can be a source of competitive advantage for business firms. The article concluded that marketing agility is directly linked to digital transformation since the business environment is characterised by a high rate of technological advancement, which includes the use of Artificial Intelligence in business activities. Marketing agility enables firms to rapidly make adjustments to their marketing strategies in anticipation of or in response to market changes. The article provided relevant recommendations for managers of business firms, such as investing in the training of employees in agile marketing practices and the use of digital tools like cloud computing and data analytics
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