What are the critical components of a market orientation company?
// April 25th, 2012 // No Comments » // State Law
In the new market orientation ‘movement’ within the academic world there is a surprising degree of congruence between the findings of the main researchers in this area. The critical components of market orientation may be synthesized as consisting of three main ‘pillars’.
• Finding out, at a ‘needs’ level, what it is that customers/clients currently want and how these needs are likely to change in the future, and recognizing and predicting the role of existing and potential competitors in the dynamics of the marketplace.
• Getting everyone in the organization to understand the marketing concept and sharing with them all the information and research generated about the customers, competition and marketplace.
• Co-ordinating and encouraging inter-departmental, organization-wide activities to focus upon responding to the current and anticipated needs of the customers/clients.
These three points encompass the measures of market orientation proposed by Kohli and Jaworski and Narver and Slater, as well as receiving the widespread support of the existing literature covering this area.
The area of greatest concern, and greatest confusion, amongst professionals, partners, consultants and ultimately professional
service firms, is how exactly a firm achieves a market orientation. The question that I am asked most often during meetings, seminars, workshops, etc. is ‘What can my firm actually do in order to achieve a market orientation?’ The first thing that all professionals have to realize is that there is no ‘quick fix’ approach to achieving a market orientation in a short space of time. If such a solution did exist everyone would apply it with a zero-sum gain in competitive terms and a loss in financial terms for all professional service firms.
While there are no ‘quick fix’ solutions there are a number of goals, some more readily achievable than others, that need to be attained in order to achieve a market orientation in the longer run.
Partner understanding and commitment
Any movement towards becoming a market-oriented firm has to begin by getting the partners within the firm to understand what a market orientation is, what it involves, and critically, why it is necessary. Given the current professional production orientation of the over¬whelming majority of professional service firms, any movement towards a market orientation is likely to entail the firm, its partners and employees in Cultural, Structural, and Process change. Sarah loves writing about nhl lines and for other business sites.

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