Market Orientation in Practice (Case Study of Promasidor Ghana Limited- Accra)
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Date
2008-08-19
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Abstract
Market orientation is conceptualized as the speed by which a company gathers information customers and competitors, disseminates the information throughout the organization, arrives at a shared meaning, and implements a response.
The increasing and intense nature of competition has necessitated the need for companies to be fully aligned to the needs of their customers and to appreciate and respond appropriately to what their competitors are doing.
The market place has thus shifted from the practice of attracting customers to the era of retaining them by meeting their needs with custom made responses. Within this context, the study sought to carefully examine how Promasidor Ghana Limited has adopted and is practicing the basic tenets of market orientation.
Questionnaires were designed and used to elicit information and responses from customers and staff of Promasidor Ghana Limited. Consideration was also given to the distribution structure of the company. In this regard, most of the customers and staff interviewed were selected from Accra and Kumasi which had about 75% of the total customers as well as the staff of the company.
The findings from the study have shown that with the incorporations of some of the tenets of market orientation, Promasidor has been able to meet some of the needs of customers to a large extent. It was also noted that should management connect much more with their trade partners then the degree of market orientation could be much more enhanced.
Interdepartmental engagements to drive down the concept of market orientation amogg the other supporting departments such as Finance and Logistics should also be encouraged through annual sports programs, newsletters, joint training programs, sharing of market intelligence reports equally among senior and departmental heads in the company.
Such efforts appear to foster an understanding of a common objective of the company and align the managers in other departments in achieving such objectives.
The strategic implication for the company is to ensure market orientation permeates the entire fabric of the company in order that it becomes the driving force of the business.
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Description
A thesis submitted to the KNUST School of Business in partial fulfilment of the requirement for the award of Master of Business Administration Degree in Marketing, 2008