• 유통과학연구
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• 제11권6호
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• pp.81-89
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• 2013

Purpose - The market orientation of a manufacturer is a very critical competitive advantage factor in the development of new markets and the sustainability and maintenance of existing ones, achieved through the design of customer-oriented products. This is recognized as a virtuous circle, in which firms grow by means of promoting quality management. However, though market-oriented activities are important in management and operations, they seem to be promoted mainly by large-scale enterprises rather than by small- and medium-scale firms, the latter having invested relatively few company resources. Furthermore, few studies and analyses have examined how market orientation relates to the expansion of quality programs within organizations or with business performance; the market orientation and customer-orientation concepts are mixed together when both are used in research. Given the current market situation in which the servitization of manufacturing firms is rapidly expanding, this study's analysis of the effect on market orientation of manufacturers is a significant contribution. From this perspective, this study has several objectives. First, is to analyze and suggest the relationship between market orientation and quality management activity for manufacturers, focusing on three sub-activities: products, process, and quality management activities. Second, it is intended to identify correlation between manufacturers' market oriented activity and their management performance and then to analyze how market orientation affects business performance. The results of a number of prior studies on the correlation between market orientation and management performance have indicated that market orientation does affect management performance. Third, this study also investigates whether any differences in the relationship among market orientation, quality management activity and business performance occur according to company size. The results are used to present operational suggestions for large- and small- and medium-size firms. Research design, data, methodology - This study seeks to analyze and identify the causal features of the organic relationship among market orientation, quality management, and management performance for Korean manufacturing companies using three years (2005-2007) of market orientation, quality management, and business performance data. Subsequently, structural equation modeling was used to analyze the causal features of related factors and it aims to identify the features of market orientation, quality management, and business performance. Results - The analysis examined how market orientation affected the quality management and management performance of 159 smalland medium-size companies. In particular, enterprise quality management was analyzed in relation to management performance with a focus on activities such as leadership, measurement and improvement, quality control, cost management, and process management. Conclusions - The result of the analysis show that market orientation significantly affected all of the quality management activities and that market orientation in turn significantly affected organizational performance. The result of analysis indicate that quality management activities have a significant effect on quality control and cost management.

• 벤처창업연구
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• 제13권3호
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• pp.141-152
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• 2018

많은 연구들이 시장지향성의 기업성과에 대한 긍정적인 영향력을 밝혀주고 있지만 최근까지도 시장지향성이 어떻게 기업성과를 창출할 것인지에 대한 논란은 지속되고 있다. 본 연구는 기존 연구들이 시장 지향적 행위의 질적 측면을 간과하고 있고, 시장지향성의 성과를 주로 기업수준의 성과에 초점을 맞추고 있을 뿐 아니라 산업이나 경영환경에 따라 지나치게 다양한 매개변수를 사용하고 있다는 한계점을 극복하고, 일반화된 성과 창출과정을 설명하고자 하였다. 시장지향성이 기업성과를 창출하기 위해서는 시장정보의 행위적 측면뿐만 아니라 시장정보의 품질이 전제되어야 하며, 개인수준에서 성과 창출이 매개되어야 조직 전체의 성과로 확산될 수 있다고 판단하였다. 따라서 본 연구에서는 시장지향성과 기업성과 사이에서 시장정보품질을 조절변수로, 종업원의 업무성과를 매개변수로 제시하였다. 이들 변수는 산업 차이나 대상에 관계없이 적용할 수 있다는 측면에서 시장지향성 연구의 보편성과 실무적 적용가능성을 확대했다는 의의가 있다고 할 것이다. 연구결과 시장지향성-기업성과 간의 관계에서 2가지 변수의 역할을 실증적으로 확인하였다. 본 연구의 시도는 학문적으로는 시장지향성을 양과 질이 균형 잡힌 개념으로 완성도를 높였을 뿐만 아니라, 중소기업 입장에서 성과창출에 대한 새로운 설명을 제시하였다는 의미가 있다. 실무적으로는 시장지향성을 적용하는 동기를 부여하고, 성과 창출과정을 쉽게 이해해 활용도를 개선해 줄 것으로 기대한다.

• 지식경영연구
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• 제20권1호
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• pp.175-194
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• 2019

In order to overcome the limitation of market orientation concept, Narver et al. (2004) have extended the original concept into two dimensions, responsive market orientation (RMO) and proactive market orientation (PMO), respectively. Yet, there has been very limited empirical studies that analyzed the differential effects of each market orientation on firm outcomes, especially in the Korean context. We analyze the impact of RMO and PMO on the new product performance in the perspective of SMEs and examine the moderating effect of external factors such as environmental uncertainty and market similarity. The results of this study show that both RMO and PMO have a significant positive effect on the new product performance of SMEs. Also, environment uncertainty shows a negative moderating effect on the relationship between RMO and new product performance, whereas it has positive moderation with PMO. This suggests that focusing on potential customers' needs rather than current needs helps improve firm performance as the competitive environment surrounding the firm becomes more uncertain. Lastly, market similarity showed a positive moderating effect on the relationship between RMO and new product performance, but not on PMO.

• 보건행정학회지
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• 제16권4호
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• pp.1-23
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• 2006

There is general consensus in the research literature that market orientation is related to organizational performance. The study examines this relationship in the Korean hospital industry. One feature of this study is to examine the differences between large and small hospitals in terms of their market orientation, performance and the relationship between these constructs. The other feature is that both market orientation and performance are conceptualized as being multi-dimensional constructs. Hence a structural equations modeling (SEM) technique is used to examine the dimensionality of market orientation and performance and to examine the nature of this relationship. Data for this study are collected using a questionnaire that is mailed to the top marketing-related managers of 1,048 hospitals. Usable responses are obtained from 230 hospitals for a response rate of 21.9%. The SEM results confirm the multi-dimensional nature of both market orientation and performance, and the strong relationships between the constructs. Interestingly, this relationship is found to be much stronger for smaller hospitals than for larger hospitals. For smaller hospitals, this study shows that market orientation has a tremendous influence on performance, with almost 73.9% of the variance in performance being attributed to market orientation.

• STI Policy Review
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• 제2권1호
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• pp.55-73
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• 2011

Intermediaries are presenting not only transactional information that orchestrates electronic transaction, but also market related information and knowledge useful for sellers' understanding of the market status. However, we do not have strong evidence that the market related information and knowledge is properly utilized by sellers and that it has an actual influence on sellers' performance. According to the research result, absorptive capacity and the pattern of information system utilization is statistically significant to sellers' performance mediated by operational efficiency and market knowledge creation. Especially, explorative utilization of information system and realized absorptive capacity has a stronger influence on sellers' performance mediated by market knowledge creation. With this research result, this study maintains that sellers are required to absorb and utilize market related information and knowledge more actively through explorative utilization of information system to achieve better performance in the e-marketplace. On the other hand, intermediaries are recommended to provide abundant and valuable market related information and knowledge for the sellers to build up better e-marketplaces.

• 한국의류학회지
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• 제27권6호
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• pp.705-714
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• 2003

Recent Studies have shown evidence of a positive relationship between market orientation and performance. However, some scholars have suggested that customer satisfaction, salespeople's job satisfaction, and product quality etc. could moderate this relationship. According to the increase of market oriented efforts of apparel firms and importance of the salespeople's role, this study focuses on the effect of market orientation on performance of apparel firms through the salespeople's job satisfaction and customer satisfaction. It is found that market orientation has a positive effect on the salespeople's job satisfaction and customer satisfaction. The salesperson's job satisfaction was found to influence on the performance through the customer satisfaction. The customer satisfaction has strong influence on the performance directly. Market orientation appears to provide a unifying focus for the efforts of salespeople within the organization, thereby leading to customer satisfaction and superior performance.

• 무역학회지
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• 제47권1호
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• pp.145-161
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• 2022

For multinational manufacturers, China is an attractive consumer market, but the unique attributes and tastes of Chinese customers present challenges in achieving desired investment performance. In this paper, the influence (mediating function) of consumer-centered market orientation adopted as a strategic means by multinational companies entering China on investment performance was examined utilizing samples collected through questionnaires and statical analysis through structural equation models. This paper, based on value chain and product attributes, divided market orientation into two types: production impacted market orientation and service impacted market orientation. The empirical analysis results of 233 samples showed that, service impacted market orientation with downstream activities and support service (as a variable) has a greater impact on investment performance than production impacted market orientation with upstream activities and product attributes. This indicates to managers that focusing on service impacted market orientation when implementing consumer-centered marketing strategies in the Chinese local market is an efficient/effective localization strategy to increase expected investment performance.

• Journal of Korea Trade
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• 제24권8호
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• pp.121-132
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• 2020

Purpose - The principle aim of this study is to further investigate the relationship between market diversity and export performance. We examine the benefits and costs of geographic market diversity regarding the number of countries exported to by firms on their export performance. Based on the financial risk reduction model and the entry costs model, we propose a way to incorporate the costs and benefits aspects of market diversity. Design/methodology - To empirically investigate our research question, the curvilinear relationship between market diversity and export performance, we built a secondary panel data set between 2015 and 2019, containing 17,863 observations of Korean exporting companies. A generalized least squares panel estimator with fixed effects was employed to test the hypothesis, and the statistical package, Stata 14, was used. Findings - Our main findings are as follows: As market diversity increases, export performance increases because exporters can diversify and reduce financial risks in export markets. However, the relationship between the two does not grow. As it peaks, the entry costs increase due to the high market diversity, thereby outweighing the benefits, leading, eventually to decrease in the export performance. Consequently, there is an inverted U-shaped relationship between market diversity and export performance. Originality/value - In the export and trade literature, the impact of market diversity on export performance has not been addressed yet, despite the importance of this subject. Many scholars have assumed a positive linear relationship between the two, considering only the decrease in market risks as the number of overseas markets increases, without examining the increase in the entry and management costs. Therefore, our study contributes by providing a new perspective for analyzing the characteristics and outcomes of market diversity.

• The Journal of Asian Finance, Economics and Business
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• 제8권11호
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• pp.79-86
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• 2021

In recent years, firm performance has been a topic that attracts many researchers. It is extremely important to identify the factors that change firm performance. In the current trend of competition and integration, foreign ownership, product market competition is found to reduce agency costs and impact firm performance. The purpose of this research is to investigate the relationship between foreign ownership, product market competition, and firm performance. Our research using a quantile regression model, through panel data of 290 companies listed on the Vietnam stock exchange (include Ho Chi Minh and Hanoi stock exchanges) from 2017 to 2019 that was collected by Thomson - Reuters DataStream has shown that foreign ownership and product market competition have a positive impact on Tobin's Q but are not statistically significant with ROA. Critically, our quantile regression results suppose foreign ownership, product market competition have a significantly larger positive impact in high-performing firms relative to low-performing firms. The results help propose solutions to planners and managers to change foreign ownership and product market competition to increase business performance. Besides, through quantile regression analysis, managers need to pay attention to the impact on foreign ownership, product market competition; there will be a difference between high-performing firms relative to low-performing firms.

• 유통과학연구
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• 제12권8호
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• pp.71-82
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• 2014

Purpose - This study is to examine the effect of environmental orientation on innovation, environmental and market performance in Korean franchise firms' context. This study also investigates how environmental orientation, innovation and environmental performance play mediating roles between environmental orientation and market performance. For these purposes, the authors developed a structural model which consists of several constructs. In the model, environmental orientation was proposed to affect innovation and environmental performance, while innovation and environmental performance influence market performance. Specifically, innovation and environmental performance were proposed as core mediators between franchise firms' environmental orientation and market performance. Research design, data, and methodology - The data were collected from 155 franchise firms in Korea during January 2012. The results of factor analysis with reliability test with Cronbach's α warranted unidimensionality of the measures for each construct. In addition, nomological validity of the measures of each construct was warranted from the result of correlation analysis. The data were analyzed with reliability analysis, and structural equation modeling with SPSS Win/PC 18.0 and AMOS 18.0. Results - The results of the overall model analysis appeared as follow: χ²=52.388(df=21), p=.000. GFI=.932, AGFI=.854, NFI=.964, CFI=.978, RMSEA=.099, RMR=.059. Since the result of the overall model analysis demonstrated a good fit, we further analyzed our data. The findings can be summarized as follows: Firstly, the environmental orientation had a positive effect on innovation and environmental performance, but had not a direct effect on market performance. Secondly, innovation had a positive effect on environmental performance, but had not a direct effect on market performance. Thirdly, environmental performance had a positive effect on market performance. Conclusions - The results of this study show that, in order to achieve competitive advantages and environmental and market performance in turbulent market situation, franchise firms should emphasize internal and external environmental orientation, and put through improvements in perspective of technology, organization, and product. Consequently, this research suggests that environmental orientation is a motive for franchise companies' innovation, environmental performance, and market performance. It also suggests theoretical and managerial implications, limitations, and further research directions.