Market Orientation and Firm Performance:The Case of Manufacturing Firms in Ghana
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Date
2012-02-15
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Abstract
The study investigated the relationship between market orientation and Firm performance among manufacturing firms in Ghana. The research forms part of the effort to improve upon the performance of Ghanaian manufacturing firms in the midst of stiff competition faced in the global business environment. To achieve the research objectives, the study employed a semi structured questionnaire containing market orientation and performance related questions. A total of 100 questionnaires were administered to manufacturing firms in the Accra Metropolis out of which 72 valid responses were obtained for the study. The findings from the study revealed that customer Orientation has a positive influence on Firm performance in the manufacturing sector in Ghana. The results lend credence to literature that a business that increase its customer orientation will improve its market performance. Secondly, Interfunctional Coordination was found to have a direct relationship with Firm Performance. Thus, business organizations that ensure effective coordination of its marketing activities are more likely to achieve higher profit levels. It is recommended that manufacturing firms in Ghana should endeavour to achieve high levels of customer orientation by sufficiently understanding the needs of their buyers and creating superior values for them continuously. Besides, manufacturing firms should pay more attention to the issue of interfunctional Coordination so as to achieve high level of efficiency in its operation towards the ultimate goal of profit maximization.
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A Thesis submitted to the Institute of Distance Learning, Kwame
Nkrumah University of Science and Technology, Kumasi in partial fulfillment of
the requirements for the degree of
Commonwealth Executive Masters of Business Administration,