Role of Market Orientation as a Capability for Improved Business Performance

Abstract

In this article, an attempt has been made to understand the focal marketing concept, i.e. market orientation, and how this construct can be used with other business processes to improve performance of a business organisation. Since resources and competencies possessed by enterprises define their success in the end. Our aim was to explore the links between market orientation and related constructs so that they could enhance the performance. The prime contribution of this study is to understand the role of knowledge management in the market orientation and innovation strategy link. A number of studies have provided support for direct link between market orientation and innovation. However, we argue that this link is mediated by the knowledge-management competency of an enterprise. First, a brief introduction about market orientation is given. Second, the present work on market orientation and related constructs has been reviewed. Last, suggestions for future research are highlighted.

Keywords: Market Orientation, Knowledge Management, Innovation, Learning Orientation, Competitive Advantage, Capability, Resource-Based View, Business Performance

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