• Title, Summary, Keyword: Market Orientation

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A Study on the Effects of the Manufacturer's Market Orientation on Quality Management activity and Business Performance (제조기업의 시장지향성이 품질경영활동과 경영성과에 미치는 영향에 관한 연구)

  • Won, Yu-Young;Park, Jong-Woo;Song, Gwang-Suk;Shin, Ho-Chul
    • The Journal of Distribution Science
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    • v.11 no.6
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    • pp.81-89
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    • 2013
  • Purpose - The market orientation of a manufacturer is a very critical competitive advantage factor in the development of new markets and the sustainability and maintenance of existing ones, achieved through the design of customer-oriented products. This is recognized as a virtuous circle, in which firms grow by means of promoting quality management. However, though market-oriented activities are important in management and operations, they seem to be promoted mainly by large-scale enterprises rather than by small- and medium-scale firms, the latter having invested relatively few company resources. Furthermore, few studies and analyses have examined how market orientation relates to the expansion of quality programs within organizations or with business performance; the market orientation and customer-orientation concepts are mixed together when both are used in research. Given the current market situation in which the servitization of manufacturing firms is rapidly expanding, this study's analysis of the effect on market orientation of manufacturers is a significant contribution. From this perspective, this study has several objectives. First, is to analyze and suggest the relationship between market orientation and quality management activity for manufacturers, focusing on three sub-activities: products, process, and quality management activities. Second, it is intended to identify correlation between manufacturers' market oriented activity and their management performance and then to analyze how market orientation affects business performance. The results of a number of prior studies on the correlation between market orientation and management performance have indicated that market orientation does affect management performance. Third, this study also investigates whether any differences in the relationship among market orientation, quality management activity and business performance occur according to company size. The results are used to present operational suggestions for large- and small- and medium-size firms. Research design, data, methodology - This study seeks to analyze and identify the causal features of the organic relationship among market orientation, quality management, and management performance for Korean manufacturing companies using three years (2005-2007) of market orientation, quality management, and business performance data. Subsequently, structural equation modeling was used to analyze the causal features of related factors and it aims to identify the features of market orientation, quality management, and business performance. Results - The analysis examined how market orientation affected the quality management and management performance of 159 smalland medium-size companies. In particular, enterprise quality management was analyzed in relation to management performance with a focus on activities such as leadership, measurement and improvement, quality control, cost management, and process management. Conclusions - The result of the analysis show that market orientation significantly affected all of the quality management activities and that market orientation in turn significantly affected organizational performance. The result of analysis indicate that quality management activities have a significant effect on quality control and cost management.

The Effects of Market Orientation and Learning Orientation on Business Performance in the Railroad Industry (시장지향성과 학습지향성이 기업성과에 미치는 영향에 관한 연구 -철도산업을 중심으로-)

  • Shin Tak-Hyun;Hong Yoonsik
    • Proceedings of the KSR Conference
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    • pp.1508-1513
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    • 2004
  • Examining the market orientation and learning orientaiton and these relationship with business performance has received considerable interest in the last decade. Despite these interest, our understanding of the structure of both market orientation and learning orientaion and the mechanism of those effect on business performance is apparently limited in figuring out the railroad industry in Korea. The purpose of this research was to conceptualize and measure the organizational culture dimension from the integrative framework of market orientation and learning orientation, and to analyze its relationship with business performance in the railroad industry. The findings from this research are such as follows; market orientation is a set of three interrelated components, i.e., customer orientation, competitor orientation, and inter-functional coordination. This finding is similar to that of Narver and Slater(1990; 1994) who conceptualized market-oriented culture as a combined set of those 3 components. Learning-oriented culture also has a significant positive effect on business performance. The research findings suggest that both market orientation and learning orientation do exist as different organizational culture dimensions to acquire the sustainable competitive advantage in the railroad industry.

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The Relationships between Market Orientation, Organizational Service Orientation, and Performance (시장 지향성, 조직의 서비스 지향성, 경영성과의 관계)

  • 이용기;이석규;문형남
    • Journal of the Korean Operations Research and Management Science Society
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    • v.26 no.2
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    • pp.111-130
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    • 2001
  • This study aims to examine the difference between market orientation, organizational service orientation, performances (employee satisfactions and business performances) across the type of hotel grade, and investigate the effect on performances of market orientation, organizational service orientation, and interaction of these two factors. For these purposes the authors developed 13 research proposals. The data for this research which were collected from Korean hotel firms’ managers and employees were analyzed with one-way ANOVA, regression analysis. The findings can be summarized as follows. First, five-star hotels display higher levels of market orientation, organizational service orientation, performance (employee satisfaction, business performance) than four-star and three-star hotels. Second, market orientation, organizational service orientation, and interaction of these two variables have significant effects on performances(employee satisfaction, business performance).

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The Relation among Brand Value, Relationship Value, Market Orientation and Performance in B2B (B2B 거래에서 브랜드가치, 관계가치, 시장지향성 그리고 성과에 관한 연구)

  • Park, Seung-Hwan;Han, Sang-Seol
    • The Journal of Industrial Distribution & Business
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    • v.9 no.9
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    • pp.53-62
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    • 2018
  • Purpose - The focus of this study is to investigate the structural influences such as brand value, relationship value, market orientation, long-term orientation, and performance. The effects of brand value and relationship value on the differences on transaction performance in b2b was investigated. Research design, data, and methodology - The subject of this study was a liquor and beverage distribution company that deals in b2b. The research hypothesis is based on literature of the preceding research analysis of brand value, relationship value, market orientation and long-term orientation. This study has constructs that was defined operationally by referencing previous studies. Operational questionnaire was used to investigate the target key staff who work in the liquor and beverage distribution company. 178 survey data were used for empirical analysis to prove the hypothesis. This study used structural equation techniques(AMOS) to prove the research hypothesis. Results - The main results of this empirical study were as follows. First, supplier's brand awareness has a positive effect on market orientation, but did not affect long-term orientation. Brand awareness of suppliers indicates that they are not directly related to long-term orientation. Second, supplier's brand image has a positive effect on market orientation and long-term orientation in b2b transaction. So, the brand image and reputation of the supplier suggest that it is important for the b2b transaction to have a market orientation tendency or a long-term orientation. Third, supplier's relationship value has a positive effect on long-term orientation, but does not affect market orientation. Relationship value indicates that they are not directly related to market orientations of the buyer. Fourth, Market orientation has a positive effect on long-term orientation and marketing performance and long-term orientation has a positive effect on marketing performance in b2b. Additionally, the buyers market and long term orientation are important factors in marketing performance in b2b. ' Conclusions - Based on empirical results, this study confirmed that brand image rather than brand awareness positively influenced long-term orientation as well as market orientation in b2b. Relationship value can be found in transactions, which is important for long-term orientation. Especially, these findings are suggestive in the consumer goods distribution market.

Explaining International Expansion Through Export-Venture Market Orientation: A Perspective of Resource-Advantage Theory of Competition

  • Kim, Da-Som;Oh, Han-Mo
    • Asia-Pacific Journal of Business
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    • v.8 no.1
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    • pp.33-44
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    • 2017
  • The present study aims to examine the role of market orientation as an international partnership property. This property, labeled export-venture market orientation, is at the inter-firm level and is related to the new market development (NMD) activities of export-ventures. Specifically, this article is to define the export-venture market orientation; to argue that it is a major factor in NMD export-venture success; and to argue that the resource-advantage (R-A) theory of competition can provide a theoretical foundation for this concept and explain its contribution to export-ventures' international expansion success. This manuscript is conceptual in approach. In their efforts to strengthen relationships, export-ventures may tend to focus so much time on the partnership factors that they miss market opportunities. As a spanning process, NMD should be informed by both external and internal activities. In an export-venture, market orientation helps guide NMD activities from outside to inside and vice versa. As a dynamic and disequilibrium provoking process, the R-A theory can theoretically ground the concept of export-venture market orientation and explain its role in NMD export-venture success. The current study contributes to business marketing theory in three ways: it extends the concept of intra-organizational market orientation to an inter-organizational context; contributes to understanding the role of idiosyncratic resources in export-ventures; and theoretically explains the concept of export-venture market orientation. The present study is the first to extend the concept of market orientation into inter-organizational NMD framework and to examine the role of export-venture market orientation in NMD export-venture success.

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A Study on the Effects of Market and Technological Orientation of Manufacturing Companies upon Absorptive Capacities and Product Development Performance (제조기업의 시장지향성과 기술지향성이 흡수능력 및 제품개발성과에 미치는 영향에 관한 연구)

  • Na, Sang Gyun;Tian, Chen
    • Journal of the Korea Safety Management and Science
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    • v.16 no.4
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    • pp.263-274
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    • 2014
  • The present study is aimed at examining in multilateral ways the structural relationship among technological orientation, market orientation and product development performance of manufacturing companies, which are deemed to be key factors for them to increase absorptive capacities. From the study, it was revealed that: First, in terms of the relationship between market orientation and absorptive capacities, it was made clear by the analysis that the market orientation sought after by manufacturing companies has influence upon their absorptive capacities. Second, with regard to the relationship between technological orientation and absorptive capacities of manufacturing companies, the analysis found that the technological orientation pursued by them affects their absorptive capacities. Third, as for the relationship between absorptive capacities and product development performance, the analysis made it clear that the absorptive capacities of manufacturing companies exerts influence upon their product development performance. Fourth, in respect to the relationship between market orientation and product development performance, it was concluded from the analysis that market orientation produces effect upon product development performances like technological innovation and acquisition of new technologies needed for product development. Finally, regarding the relationship between technological orientation and product development performance of manufacturing companies, it became obvious from the analysis that the technological orientation affects the product development performance.

The Relationship between Hospital Size and the Impact of Market Orientation on Performance in Korea (병원산업에서 시장지향성이 성과에 미치는 영향과 규모와의 관계)

  • Lee, Kyun-Jick
    • Health Policy and Management
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    • v.16 no.4
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    • pp.1-23
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    • 2006
  • There is general consensus in the research literature that market orientation is related to organizational performance. The study examines this relationship in the Korean hospital industry. One feature of this study is to examine the differences between large and small hospitals in terms of their market orientation, performance and the relationship between these constructs. The other feature is that both market orientation and performance are conceptualized as being multi-dimensional constructs. Hence a structural equations modeling (SEM) technique is used to examine the dimensionality of market orientation and performance and to examine the nature of this relationship. Data for this study are collected using a questionnaire that is mailed to the top marketing-related managers of 1,048 hospitals. Usable responses are obtained from 230 hospitals for a response rate of 21.9%. The SEM results confirm the multi-dimensional nature of both market orientation and performance, and the strong relationships between the constructs. Interestingly, this relationship is found to be much stronger for smaller hospitals than for larger hospitals. For smaller hospitals, this study shows that market orientation has a tremendous influence on performance, with almost 73.9% of the variance in performance being attributed to market orientation.

A Study on the Effect of Market Orientation on Customer Orientation, Professionalism, Job satisfaction and Performance in Specialty Hospital (전문병원의 시장지향성이 고객지향성, 직업전문성, 직무만족 및 경영성과에 미치는 영향)

  • Lee, Jung-Woo;Choi, Young-Jin
    • Korea Journal of Hospital Management
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    • v.14 no.1
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    • pp.1-22
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    • 2009
  • The purpose of this study is to find how does market orientation of specialty hospital affects customer orientation, professionalism, job satisfaction and performance. Consequently, the correlation between market orientation and performance can be identified and more effective guideline for marketing strategy can be draw through this study. Data were collected from 302 employees in 6 hospitals using a standardized questionnaire. This study analyzed the research model using structural equation model. The findings of this paper are as followings; 1. Customer orientation and professionalism had been affected directly by market orientation. 2. Performance has been affected directly by customer orientation and job satisfaction. 3. Job satisfaction has been affected directly by professionalism. 4. Performance has been affected indirectly by professionalism via job satisfaction.

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A Study on the Structural Relationship between Market Orientation and Performance of CEO's in Small and Medium-sized Companies (중소기업의 최고경영자 특성, 시장지향성 및 성과간의 구조적 관계에 관한 연구)

  • Na, Sang-Gyun
    • Journal of the Korea Safety Management and Science
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    • v.11 no.4
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    • pp.301-310
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    • 2009
  • The present study analyzed empirically the structural relationship among characters, market orientation and performance of CEO's in small and medium-sized companies. The analysis showed that market orientation is affected by CEO's characters in the industry. It was also revealed from the analysis that the business performance and technical renovation of small and medium-sized companies rely fairly on their market orientation. These findings are believed to have great significance in the process of creating market orientation by the industry. That is, CEO's will may play a very important role in pursuit of market orientation and, at the same time, may act as a vital factor for small and medium-sized companies to achieve business performance and to realize technical renovation.

The Effects of RMO and PMO on SMEs' New Product Performance: The Moderating Role of Foreign Market Environment (반응적시장지향성과 선제적시장지향성이 중소기업의 신제품 성과에 미치는 영향: 수출시장환경의 조절효과를 중심으로)

  • Lee, Youngwoo;Cho, Hyo Eun;Jeong, Insik
    • Knowledge Management Research
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    • v.20 no.1
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    • pp.175-194
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    • 2019
  • In order to overcome the limitation of market orientation concept, Narver et al. (2004) have extended the original concept into two dimensions, responsive market orientation (RMO) and proactive market orientation (PMO), respectively. Yet, there has been very limited empirical studies that analyzed the differential effects of each market orientation on firm outcomes, especially in the Korean context. We analyze the impact of RMO and PMO on the new product performance in the perspective of SMEs and examine the moderating effect of external factors such as environmental uncertainty and market similarity. The results of this study show that both RMO and PMO have a significant positive effect on the new product performance of SMEs. Also, environment uncertainty shows a negative moderating effect on the relationship between RMO and new product performance, whereas it has positive moderation with PMO. This suggests that focusing on potential customers' needs rather than current needs helps improve firm performance as the competitive environment surrounding the firm becomes more uncertain. Lastly, market similarity showed a positive moderating effect on the relationship between RMO and new product performance, but not on PMO.