The Shrimad Bhagavad Gita, often referred to as the Gita, is a 700-verse hindu scripture that is part of the epic Mahabharata, dated to the second half of the first millennium BCE and exemplary for the emerging Hindu synthesis. It is considered to be one of the Holy Scriptures for Hinduism. Sri S. Subba Rao, the author of the prescribed Gita text book for the students, came into close association with saints and sages of high order such as Ramana Maharshi and Upasni Baba. He acknowledges the active presence and work of the Divine Teacher, Sri Krishna, in composing this work has helped him in completing it in a short period. Vedanta Kesari, a reputed journal in the subject comments on the book saying, “The translation is perfectly clear and intelligible. Examples drawn from everyday life and the sayings and incidents in the lives of sages add worth of the commentaries.” (1961).
novation, but market-oriented firms acquire and use market information as an input to innovation process (Kohli and Jaworski, 1990). However, both the strategic orientations are key for successful organisational performance. Thus, the adoption of a learning orientation with the marketing orientation is associated with better organizational performance knowledge creation, competencies, and better response to their environment (Baker and Sinkula, 1999a; Liu et al., 2002; Slater and Narver, 1995).
IMPACT OF MARKETING ORIENTATION ON BUSINESS PERFORMANCE
According to Liao et al. (2011, p.303), a survey conducted on marketing orientation suggests that out of all published articles on marketing orientation about 38 (7.4%) have examined the relationship between marketing orientation and the business performance. Out of which, 36 of them found a relationship whereas 2 of them found a negative relationship between them. The above was overwhelming to the earlier researchers who argued that it is hard to establish a conclusive relationship (e.g. Diamantopoulos & Hart,1993; Greenley,1195; Han et al. 1998). Importantly, 22 out of 38 published articles establish a direct positive link between the marketing orientation and performance of an organisation (e.g. Narver and Slater, 1990; Ruekert, 1992). The below figure:2 reflects on the conceptual framework developed based on the related keywords showing how marketing orientation impacts business performance.
Figure :2
Source: Liao et al. (2011, p. 307)
The growth of global advertising spending and digital marketing suggest the importance of market knowledge and customer focus plays an integral part of business success. It is estimated that the global advertising spending will grow a 3.9% in 2019 to reach 563 billion dollars (see appendix 1). Below are some of the selected case studies based on scholarly researches evaluating the relationship between marketing orientation and business performance.
A study conducted on garment industry in the UK and the US suggests a tight relationship between marketing orientation and business performance (Ngai and Ellis,1998). According to them, this wasn’t different in the case of Hong Kong either (a case of non-western economy). Data collected from 73 textile industries, which then analysed as an evidence-based study by using MKTOR scale introduced by Narver and Slater’s (1990). Similarly, Charles et al. (2012) establishes a positive relationship between market orientation and business performance in an emerging market scenario. They conducted a questionnaire-based survey of 220 managers of manufacturing companies in Kenya. Apart from the above result, they also found that there are significant effects of business environment on business performance.
Hi, Welcome to Compliant Papers.