Affiliation:
1. Shaheed Zulfikar Ali Bhutto Institute of Science and Technology, Pakistan & UCSI University, Malaysia
2. UCSI University, Malaysia
Abstract
Market orientation is one of the most widely researched topics in the marketing domain, and has matured over time. The purpose of this chapter is to understand its concept and its gradual growth. The authors put light on the work of four research influencers of this filed, who works in team. First, they proposed a firm base market orientation theory. Second, they view the utile perspective of market orientation. Third, they bring customer perspective of market orientation. And fourth, they introduce the term customer-defined market orientation. Though researchers have conceptualized market orientation differently and bring new contextual factors in the concept, however, all researchers have consensus on the three dimensions of customer-defined market orientation which includes, customer orientation, competitor orientation and inter-functional orientation. Research in this domain reported that a firm who understands and use market orientation makes good profit and remain competitive in the industry in long run.