Market orientation: Understanding markets, shaping the future

Franz Bailom, Kurt Matzler and Dieter Tschemernjak

Chapter 5 in Enduring Success, 2007, pp 55-76 from Palgrave Macmillan

Abstract: Abstract As our model shows, market orientation is one of the key drivers of success. We describe as market-oriented those companies which (1) continuously generate knowledge about markets and stakeholders; (2) systematically distribute this knowledge within the company and make it accessible to the key decisionmakers; and (3) base their innovations and strategies on this market knowledge. Formulating the market strategies which result from this process is a task for top management, and it is becoming increasingly important. Three trends account for this in particular: (1) the new sources of innovation; (2) increasingly complex market systems; and (3) the failure of classic, quantitative market research techniques where innovations are concerned.

Keywords: Market Orientation; Opinion Leader; External Knowledge; Network Partner; Sales Representative (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-28704-4_5

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DOI: 10.1057/9780230287044_5

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