What is Market Orientation

1.

The set of processes and routines that encourage companies to produce, disseminate and respond to information about customers, competitors, and the external environment. Learn more in: Assessing the Relationship Between Brand Image, Market Orientation, and Competitive Advantage

2.

Market orientation is the ability to understand and satisfy the needs and wants of the customers in order to achieve maximum level of profitability. Learn more in: The Role of Market Orientation and Organizational Capabilities of Family Businesses on Competitive Advantage

3.

An organizational approach or philosophy that focuses on identifying and meeting the stated or hidden needs of customers. Learn more in: Market Orientation, Customer Relationship Management (CRM) Implementation Intensity, and CRM Performance: A Structural Model

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Planning and implementation of activities or creation of products (goods, services, ideas) that meet the needs and wishes, present and latent, of all stakeholders in the target markets involved in transactional relationships. Learn more in: How to Create, Develop, and Sustain an Organization: The TIES Model

5.

Basing procedures and structures of the firm around the customer. Learn more in: Long-Term Contracts in the Cellular Phone Industry

6.

To achieve market orientation, it is essential to know the elements of the market and their patterns of movement. The more is known about a market, the better is the resulting orientation. Learn more in: The Use of Natural Language Processing for Market Orientation on Rare Diseases

7.

A firm orientation towards market, which consists of three behavioural components: customer orientation, competitor orientation, and interfunctional coordination. Learn more in: A New Perspective Network Innovation

8.

A business philosophy focusing on identifying either current and future customer needs or wants and developing business strategies to those needs. Learn more in: Ambidextrous Leadership for SMEs in the COVID-19 Era

9.

Market orientation is one kind of strategy that focuses on customers’ changing needs and competitors’ movements. Firms with the market orientation strategy are urged to keep close to their customers and make every effort to satisfy customers’ requirements. Learn more in: Antecedents of Collaborative Arrangements in the Innovation and Production System

10.

Business philosophy that opts for upgrading the interaction of the firm with the environment in order to improve the firm’s profitability, productivity and competitively in the markets. Learn more in: Consequences and Strategic Implications of Networked Enterprise and Human Resources

11.

The business approach or philosophy that focuses on identifying and meeting the stated or hidden needs or wants of customers. Learn more in: Encouraging Internationalization and Entrepreneurial Orientation in Small and Medium Enterprises