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Abstract
The main aim of this paper is to investigate the relationship between market orientation and business performance. Hypothesis concerning the relationship between market orientation and business performance were posited and tested. Data were collected using a mail questionnaire survey approach. This study employed a simple random sampling procedure in selecting the organisations for inclusion in the sample. A total of 158 Malaysian manufacturing organisations participated in this study. Factor analysis, Pearson correlation, and multiple regression methods of data analysis were utilised for hypotheses testing. The results revealed that market focus, market action, market planning, market feedback, and market coordination jointly explained 32.6% of the variance of business performance. Market focus and market coordination were found to have statistically significant association with business performance. The outcome of this study provides vital information from a developing country perspective on the impact of market orientation practices on manufacturing organisations’ performance.
Highlights
Recent years of the globalisation process have witnessed a renewed importance on delivering superior quality products that meet customer needs
The mixed results between the individual dimensions of market orientation and business performance of this study suggested that the overall hypothesis of the study was partially supported
The significant results on the impact of market orientation dimensions on business performance in the Malaysian manufacturing industry sample is consistent with some studies, which includes Jaworski and Kohli (1993), Kara, Spillan, and DeShields (2005), Loubser (2000), Narver and Slater (1990), and Pulendran et al (2000)
Summary
Recent years of the globalisation process have witnessed a renewed importance on delivering superior quality products that meet customer needs. As the impact of globalisation, the World Trade Organisation and free trade agreements led to the opening up of the local market, Malaysian organisations need to adapt to the changes that take place in the market. Tan Sri Azman Hashim, the Malaysian Industry Excellence Award council chairman, identified that the key to succeed in the market place is innovation, branding, and marketing since the marketplace is international and organisations need to compete with the best in the world (Chong, 2007). This is especially so in the case of a small economy like Malaysia where a relatively small market exists domestically.
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