Market orientation is an approach to business that starts from the perspective of the customer and works back from there. Some studies have emphasised the specific capabilities involved in being market orientated (such as capturing and using market information), while others have focused on the positive mind-set of the firm’s employees towards their customers. There is strong evidence that market-orientated firms are more successful in the long term than those who are not.
When to use it
- To understand your firm’s capabilities for addressing or shaping market needs.
- To assess the internal culture of your firm.
- To identify opportunities for improvement in your responsiveness to market needs.
The underlying notion ...