The Impact of Market Orientation On Company’s Performance and Competitiveness:a Case Study of Ghana Oil Company Limited (Goil)
For over four decades, corporate market-oriented strategy has been recognized as a pillar of superior company performance by both academics and practitioners. Market orientation in both manufacturing and service industries has attracted a significant amount of academic and practitioner interest in the current marketing literature. Oil marketing Companies (OMCs) are basically engaged in the sale and marketing of petroleum products through established retail outlets and industrial or commercial network. Trends in market shares for the Oil marketing Companies in Ghana indicate the competition in the industry is very keen. The intensity of competition in the industry is influenced by an increase in the number of competitors. These conditions have led to competitive advantage. Customers have more power than ever before. The author in this study therefore, sought to assess the impact of market orientation on GOIL’s performance and competitiveness. The study was a descriptive cross sectional study. Both primary and secondary data were collected during the study through the use of written questionnaires, review of manuals and oral interviews. In all 242 GOIL workers, allied workers and customers were interviewed. In general, drawing conclusions from empirical investigations, show that there are close correlation between Market Orientation and companies’ performance and effectiveness, rendering the former an extremely significant basis for building a competitive advantage.
A research study submitted to the KNUST School of Business, Kwame Nkrumah University of Science and Technology in partial fulfilment of the requirements for the award of a degree in Master of Business Administration, 2008