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Authors: John R Frith
Published by: Allied Business Academies
Published in: "Academy of Marketing Studies Journal", 1998
Length: 22 pages

Abstract

Market orientation is a strategy for achieving superior business performance. Empirical research has shown it to be effective in both large and small firms. This study examined the market orientation/performance relationship in minority and woman-owned small firms, a population that has not been selected for study in previous research reported in the literature. The study sample consisted of 1040 minority and woman-owned small firms in Central Texas. Two instruments were used to measure market orientation. The Deshpande and Farley (1996) Summary Scale for Market Orientation was found to be the most robust for this study of minority and woman-owned small firms. Study results using this instrument showed a significant positive relationship between market orientation and performance as measured by sales growth rate and customer retention, but not return on sales. A discussion of the possible causes for the absence of a market orientation/profit relationship is included, along with suggestions for ways to achieve a market oriented posture in minority and woman-owned small firms. Study limitations, application to theory, and suggestions for further research are presented.

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Abstract

Market orientation is a strategy for achieving superior business performance. Empirical research has shown it to be effective in both large and small firms. This study examined the market orientation/performance relationship in minority and woman-owned small firms, a population that has not been selected for study in previous research reported in the literature. The study sample consisted of 1040 minority and woman-owned small firms in Central Texas. Two instruments were used to measure market orientation. The Deshpande and Farley (1996) Summary Scale for Market Orientation was found to be the most robust for this study of minority and woman-owned small firms. Study results using this instrument showed a significant positive relationship between market orientation and performance as measured by sales growth rate and customer retention, but not return on sales. A discussion of the possible causes for the absence of a market orientation/profit relationship is included, along with suggestions for ways to achieve a market oriented posture in minority and woman-owned small firms. Study limitations, application to theory, and suggestions for further research are presented.

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