Perspectives and Approaches of Market Orientation - A Study

In an era of increasing market turbulence and intensifying competition, a robust market orientation has become a strategic necessity. Robust market orientation can enhance the effectiveness of any strategy, and serve as one of the few sustainable sources of advantage left in an environment of rapid technological change and aggressive competitive imitation and leap-frogging of strategies’ (Day, 1998). Market orientation is the major determinant in creating sustainable competitive advantage and hence long term profit (Levitt, 1970). Researchers in the past conceptualized market orientation as a set of specific behaviors and activities, a basis for decision making, as a resource and capability, an aspect of organizational culture. The market orientation has been studied from a number of perspectives; namely, decision-making perspective, market intelligence perspective, culture based behavioral perspective, strategic perspective, customer orientation perspective, system-based perspective, market-based organizational-learning perspective and customer relationship perspective So, in this paper an attempt has been made to study the appropriate opportunity, they are in a position to make significant contribution to the socio-economic development of the nation and side by side ways and means to woo the consumers.

“If there is one place on the face of earth where all the dreams of living men have found a home from the very earliest days when man began the dream of existence, it is India” - Nobel Laureate Romain Rolland