With globalization, trade liberalization and a digital world's economy, there is
a growing interest among practitioners and researchers to investigate the role
of marketing management to improve firms output, return on investment
and at a macro level improving the well being of societies. This book describes
the role of marketing in economic development. A thorough review of
literature was investigated and an empirical study was undertaken. Market
orientation focuses on a business culture and activities that enhance business
performance, producing superior value to customers, outstanding performance
for the firm and aggregately for the economy. The focus of this book
was to empirically test this market orientation theory in countries. Market
orientation is regarded as a theoretically important determinant of industry
growth (Kohli & Jaworski, 1990), so it will therefore have important
implications for economic development. The analysis helps answers the
questions: Is there a significant relationship between the market orientation
and financial performance of companies in developing countries? Can market
orientation be used effectively for developing countries to increase their
financial performance in the marketplace? Is there a relationship between
market orientation and economic development in developing countries? The
findings of the study suggest market orientation is positively and significantly
related to firm performance in most countries. Secondly, firm performance
can dramatically improve output, which can lead to economic development
in these countries. This study has shown that companies that have adopted a
market orientation strategy show an increased level of performance and on a
macro level leads to economic development. The implications of this study is
market orientation are reliable constructs applicable in develop and
developing countries, and that appropriate performance measures can
enhance the well-being of these countries. The book is addressed to
professionals in Global Marketing like marketing managers, managing
directors and brand managers. It is also directed towards researchers in marketing,
international marketing and global strategy.