Competing in an emerging market: antecedents and consequences of market orientation and the role of environmental factors

Abstract

Adoption of market orientation is an investment decision involved with benefit and cost considerations. How environmental factors influence the adoption of market orientation has received scant attention in the literature. This study fills the void by investigating the environmental antecedents to market orientation. In addition, the research explores the role market orientation and customer satisfaction play for firms operating in an emerging market in search of growth and prosperity. Based on data collected from India, one of the BRIC nations and an important emerging market, results show that turbulent and dynamic market conditions foster an adoption of market orientation, which leads to high levels of customer satisfaction, and in turn leads to customer loyalty. Managerial implications and future research directions are discussed.

Keywords:

• Antecedents
• consequences
• market orientation
• emerging market