Market Orientation

Revision with unchanged content. With globalization, trade liberalization and a digital world's economy, there is a growing interest among practitioners and researchers to investigate the role of marketing management to improve firms output, return on investment and at a macro level improving the well being of societies. This book describes the role of marketing in economic development. A thorough review of literature was investigated and an empirical study was undertaken. Market orientation focuses on a business culture and activities that enhance business performance, producing superior value to customers, outstanding performance for the firm and aggregately for the economy. The focus of this book was to empirically test this market orientation theory in countries. Market orientation is regarded as a theoretically important determinant of industry growth (Kohli & Jaworski, 1990), so it will therefore have important implications for economic development. The analysis helps answers the questions: Is there a significant relationship between the market orientation and financial performance of companies in developing countries? Can market orientation be used effectively for developing countries to increase their financial performance in the marketplace? Is there a relationship between market orientation and economic development in developing countries?