LAGOS STATE UNIVERSITY
FACULTY OF MANAGEMENT SCIENCES,
DEPARTMENT OF INDUSTRIAL RELATIONS AND PERSONNEL MANAGEMENT
MARKETING ORIENTATION AND ORGANIZATIONAL PERFORMANCE
ADEBAMBO BAMIDELE OLAOLUWA
MATRIC NO: 120831004
COURSE TITLE AND CODE:
ELEMENT OF MARKETING (MKT 101)
Market orientation can be defined as a form of organizational culture where employees are committed to continuously create superior customer value, or as a sequence of marketing activities that lead to better performance. Years of research have concluded that market oriented companies perform better than companies that are less market oriented. They focus on adapting their products and services to the needs and expectations of their customers instead of those who are product oriented and focus on developing a product or service that is then marketed and hopefully sold (Grönroos, 2006).
To achieve this customer focus, a firm with a high degree of market orientation cultivates a set of shared values and beliefs about putting the customer first and reaps results in form of a defendable competitive advantage, decreased costs and increased profits (Desphandé, 1999). The market orientation concept focuses on coordinated business intelligence generation, dissemination and responsiveness to market information for efficient and effective decisions (Sundqvist, Puumalainen and Saminen, 2000; Kohli and Jaworski, 1990).
There has been great interest in market orientation as an intangible factor that has an effect on organizational performance. Market orientation is the business culture that produces performance by creating superior value to customers (Slater and Narver, 2000). Organizations must constantly innovate in every aspect of their business operations in order to compete and survive in the competitive market place. Kohli and Jaworski (1990) provided a useful interpretation of the marketing concept and a market orientation...
Please join StudyMode to read the full document