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Abstract
The main aim of the study is to investigate the adoption and application of market orientation by small restaurants in the Eastern Sri Lanka. In order to achieve this aim, 21 small restaurants were drawn from the Eastern part of Sri Lanka. Findings suggest that small restaurants are unable to adopt market orientation strategies. Components of market orientation such as customer orientation, competitor orientation and inter functional coordination are with insignificant correlation and hence, the components of market orientation are not adopted by small restaurants. Monitoring the changes in the customer needs is essential for the success of these firms in the industry. Though these firms are small, competitors’ analysis has to be done and the results should be used as input for the development of competitive strategy. Inter functional coordination is also playing major role in this business to become market oriented. DOI: http://dx.doi.org/10.4038/jm.v8i1.7550 Journal of Management 2013 8(1): 14-26
Highlights
An organization, to gain competitive advantage in the industry, needs to understand and anticipate customers today (Hanzaee, et al, 2012)
While tourism picks up and lucrative opportunities are opening up in the Eastern region of Sri Lanka, it is likely that these small restaurants can be sustainable without shutting down their business provided that these small restaurants can follow the concept of market orientation
Narver and Slater (1990) emphasized customer orientation, competitor orientation and inter functional co-ordination and these components of market orientation are positively related to business performance
Summary
To gain competitive advantage in the industry, needs to understand and anticipate customers today (Hanzaee, et al, 2012). Previous researches have been curried on the relationship between marketing orientation and business performance. The linkages between marketing orientation and their business performance need to be studied in order to ensure their survival of these small restaurants in the industry. Further Sri Lankan government has set a target to attract 2.5 million tourists by 2016 This has formed an opportunity for number of business such as construction industry, domestic agriculture, food, hotel and beverages industry (Dailynews, 2012). While tourism picks up and lucrative opportunities are opening up in the Eastern region of Sri Lanka, it is likely that these small restaurants can be sustainable without shutting down their business provided that these small restaurants can follow the concept of market orientation. This paper discusses past studies on market orientation which explain market orientation and its importance to the business organizations. Results and discussion on findings and conclusion are given at the end
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