THE EFFECT OF EXTENDED MARKET ORIENTATION (EMO) ON BUSINESS PERFORMANCE: THE IMPLICATED FRAMEWORK

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HEIDARZADEH K.; NAYEBZADEH SH.

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Journal: Journal of Management Future Research Year:2009 | Volume:20 | Issue:80 Page(s): 13-39

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Title

THE EFFECT OF EXTENDED MARKET ORIENTATION (EMO) ON BUSINESS PERFORMANCE: THE IMPLICATED FRAMEWORK

Author(s)

HEIDARZADEH K. | NAYEBZADEH SH. | Issue Writer Certificate

Keywords

MARKET ORIENTATIONQ2

BUSINESS PERFORMANCEQ2

ENVIRONMENTAL FACTORSQ2

BUSINESS STRATEGY TYPEQ3

ORGANIZATIONAL FACTORSQ2

Abstract

The marketing concept states that organizational success depends upon satisfying the customers’ needs better than the competitors (Kotler and Armstrong, 1994). Thus, it is widely believed that MARKET ORIENTATION, the implementation of the marketing concept, leads to higher levels of BUSINESS PERFORMANCE.This study explores and describes the approaches of MARKET ORIENTATION. The objective is to improve MARKET ORIENTATION conceptualization and measurement by introducing a new model on the basis of three different scales of MARKET ORIENTATION, the scales by Kohli and Jaworski (1990), Narver and Slater (1990) and Matsuno and Mentzer (2000). Since MARKET ORIENTATION (MO) is the prerequisite for a successful business operation, to test the assertion empirically, this study looks into the nature of the relationship between MO and BUSINESS PERFORMANCE and some of the most important, affecting factors including external or ENVIRONMENTAL FACTORS, internal or ORGANIZATIONAL FACTORS and BUSINESS STRATEGY TYPE.For this purpose those companies accepted in Iran Stock Exchange that produce consumer goods and their 4-year financial and market performance information record were available in the said department were studied. On the other hand required information about these companies was collected from highest marketing authorities through some questionnaire forms. Main variables of the research are: extended MARKET ORIENTATION, organizational structure factors (Departmentalization, formalization, centralization), top management factors (top management emphasis and Risk aversion of top management), market based reward systems, business sterategy type (cost leadership and focus), competition structure (entry barriers and competitive intensity), demand structure (market growth rate , market turbulence and, buyer power), supply structure (Supplier power and Technological turbulence) and performance indexes (esprit de corps and organizational commitment as the organizational performance, market share as market performance and ROA, ROI, ROS,, sales growth, asset turnover as financial performance).Research method was statistical inference include Fisher's Exact Test and Spearman Correlation Coefficient.A postal survey was conducted to collect information from all 51 consumer goods manufacturers in Iran Stock Exchange and their performance criteria for 4 years from 2001 to 2004 are available in formal documents. A self-administered questionnaire, a letter from the head of management department at Yazd Azad University, a personalized instruction cover letter explaining the purpose of the survey and a return envelope was sent to the marketing directors/managers of the selected organizations. The general manager or the head of marketing was treated as the key informant. This approach implicitly assumes that the key informant’s individual opinion accurately provides a good indication of their organization’s MARKET ORIENTATION and the other factors in our questionnaire.Respondents were assured of their anonymity and offered a copy of the aggregate results of the survey. To further enhance the response rate, every 4 weeks after the initial mailing, a follow-up letter with a questionnaire was mailed. Thirty-three responses were received and used Among internal environment just top management emphasis found that has the direct relationship with EMO and the relationship between EMO and market share and asset turnover were accepted and the hypothesis about moderating effect of market growth rate on EMO- ROS, buyer power on EMO- ROI& ROA, market turbulence on EMO- ROI & ROA & asset turnover, supplier power on EMO-market share, technological turbulence on EMO- market share, competitive intensity on EMO- asset turnover, entry barriers on EMO- ROA & ROI & ROS were confirmed. Implications of the results and a future research agenda were also offered.

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APA: Copy

HEIDARZADEH, K., & NAYEBZADEH, SH.. (2009). THE EFFECT OF EXTENDED MARKET ORIENTATION (EMO) ON BUSINESS PERFORMANCE: THE IMPLICATED FRAMEWORK. JOURNAL OF MANAGEMENT FUTURES RESEARCH(JOURNAL OF MANAGEMENT RESEARCH), 20(80), 13-39. SID. https://sid.ir/paper/204093/en

Vancouver: Copy

HEIDARZADEH K., NAYEBZADEH SH.. THE EFFECT OF EXTENDED MARKET ORIENTATION (EMO) ON BUSINESS PERFORMANCE: THE IMPLICATED FRAMEWORK. JOURNAL OF MANAGEMENT FUTURES RESEARCH(JOURNAL OF MANAGEMENT RESEARCH)[Internet]. 2009;20(80):13-39. Available from: https://sid.ir/paper/204093/en

IEEE: Copy

K. HEIDARZADEH, and SH. NAYEBZADEH, “THE EFFECT OF EXTENDED MARKET ORIENTATION (EMO) ON BUSINESS PERFORMANCE: THE IMPLICATED FRAMEWORK,” JOURNAL OF MANAGEMENT FUTURES RESEARCH(JOURNAL OF MANAGEMENT RESEARCH), vol. 20, no. 80, pp. 13–39, 2009, [Online]. Available: https://sid.ir/paper/204093/en

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