The Role of Market-Orientation on the Financial Statements of Insurance Companies: (Case Study: Representations of Tehran Asia Insurance)

The Role of Market-Orientation on the Financial Statements of Insurance Companies: (Case Study: Representations of Tehran Asia Insurance)

Rahman Khoshku (Islamic Azad University of Buin Zahra, Buin-Zahra, Iran) and Tayyebeh Farahani (Islamic Azad University of Buin Zahra, Buin-Zahra, Iran)
Copyright: © 2018 |Pages: 10
DOI: 10.4018/IJIDE.2018010105
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Abstract

The present study examines the relationship between market-orientation and its indices on the financial statements (and indices) in Tehran's Asian Insurance companies. The results showed that direct and inverse relationships can be seen between customer-orientation, competitor-orientation and coordination of performance as market-orientation with market share, sales volume and profitability of a company's financial statements as indices. Therefore, it is recommended to companies to reinforce indices such as customer-orientation and coordination of performance that are positively correlated with all indices of financial statements in order to increase the financial statements.
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What Kind Of Relation Is There Between Market-Orientation And Performance Of Insurance Companies?

According Narver and Slater (1990), the market-orientation is the heart of management and modern marketing strategy and business that increase market-orientation, will improve its market performance. Market-orientation consists of three components: customer-orientation, competitor-orientation and coordination between duties that this study has considered these three parts and the effect of each on organization performance.

Customer-orientation means that an organization is successful that appropriately and in the best way satisfies perceptions, wants and needs of the target market through design, communications, timely delivering, effective cost and competitive proposals. Competitor-orientation means that a company identifies its actual and potential competitors' services, short-term strengths and weaknesses, key abilities and long-term strategies. According Narver (1990) and Porter (1980) coordination between duties means the coordinate use of company's resources to create superior value to target customers and is based on obtained information from customers and competitors.

These days, companies that present services such as insurance companies pay attention to marketing and its principles and regarding a very close competition with other competitors seek to improve their performance and profitability of the market.

Thus, in this study has been examined the role of market-orientation with three indices of Customer-orientation, competitor-orientation and coordination between duties on the performance of insurance companies focusing on Asia insurance.

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