Revisited: Applicability of Market Orientation Models in Sri Lanka

Though market orientation is an old concept to the business environment, it has become very important in today's business environment. Slater and Narver (1990) developed a model called MKTOR Model of Market Orientation by adding three sub components namely, Customer Orientation, Competitor Orientation and Inter Functional Coordination. They argued that if an organization need to become market oriented organization, they must have customer oriented approach, competitor oriented approach and proper coordination among different functions in the organization. Due to environmental changes and customer expectations applicability of this model is being questioned. Customers are more rational than in the past and they expect not only fulfilment of needs and wants but also social benefits. Due to this, business organizations have realized the importance of Corporate Social Responsibility. It comes with the societal marketing concept as well. Application of MKTOR model of Market Orientation developed by Slater and Narver (1990) as it is not valid anymore in the Sri Lankan context. The present paper reshapes the model by adding social benefit orientation and developed a new model NEWMKTOR model of Market Orientation.