Market Orientation

With globalization trade liberalization and a digital world's economy there isa growing interest among practitioners and researchers to investigate the roleof marketing management to improve firms output return on investmentand at a macro level improving the well being of societies. This book describesthe role of marketing in economic development. A thorough review ofliterature was investigated and an empirical study was undertaken. Marketorientation focuses on a business culture and activities that enhance businessperformance producing superior value to customers outstanding performancefor the firm and aggregately for the economy. The focus of this bookwas to empirically test this market orientation theory in countries. Marketorientation is regarded as a theoretically important determinant of industrygrowth (Kohli & Jaworski 1990) so it will therefore have importantimplications for economic development. The analysis helps answers thequestions: Is there a significant relationship between the market orientationand financial performance of companies in developing countries? Can marketorientation be used effectively for developing countries to increase theirfinancial performance in the marketplace? Is there a relationship betweenmarket orientation and economic development in developing countries? Thefindings of the study suggest market orientation is positively and significantlyrelated to firm performance in most countries. Secondly firm performancecan dramatically improve output which can lead to economic developmentin these countries. This study has shown that companies that have adopted amarket orientation strategy show an increased level of performance and on amacro level leads to economic development. The implications of this study ismarket orientation are reliable constructs applicable in develop anddeveloping countries and that appropriate performance measures canenhance the well-being of these countries. The book is addressed toprofessionals in Global Marketing like marketing managers managingdirectors and brand managers. It is also directed towards researchers in marketinginternational marketing and global strategy.