Market orientation is the extent to which an organization has implemented the marketing concept, as evidenced by standards and values that prioritize the importance of delivering customer value and the systematic use of current information about customer groups and competitors in decisions.
Three parts
- Customer-oriented thinking and acting
- Competitive thinking and acting
- Think and act from an entire organization
Effects of market orientation
- There are positive links between degree of market orientation and business performance
- You are better armed against possible competitors
- You are more satisfaction and involvement with employees
Market focus on component
External component
- The focus is on customers
- The focus is on competitors
- The focus is on suppliers
- The focus is on other market parties
Internal component
- There is internal coordination between functions, business units