Effective forms of market orientation across the business cycle: A longitudinal analysis of business-to-business firms |
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| Institution: | 1. St. Petersburg State University, Graduate School of Management, Volkhovskiy pereulok 3, 199004 St. Petersburg, Russia;2. Aston Business School, Aston University, Aston Triangle, B4 7ET Birmingham, United Kingdom;3. Aalto University School of Business, PO Box 21230, FI-00076 Aalto, Finland;4. Stockholm Business School, Stockholm University, Kräftriket 3A, S-114 19 Stockholm, Sweden;1. Vernon, CT 06066, USA;2. Copenhagen Business School, Denmark;1. Department of Marketing, Copenhagen Business School, Solbjerg Plads 3, 2000 Frederiksberg C, Denmark;2. University of Pretoria''s Gordon Institute of Business Science, 26 Melville Road, Illovo, Johannesburg, South Africa;3. Fox School of Business, Temple University, Alter Hall 523, 1801 Liacouras Walk, Philadelphia, PA 19122-6083, USA;1. Cardiff Business School, Cardiff University, Colum Drive, Cardiff CF10 3EU, United Kingdom;2. Prefeitura Municipal do Salvador, Ladeira do Boqueirão 1, Salvador 40301-360, Brazil;3. Cardiff Business School, Cardiff University, Colum Drive, Cardiff CF10 3EU, United Kingdom;1. Technische Universität Braunschweig, Institute of Automotive Management and Industrial Production, Schleinitzstr. 23a, 38106 Braunschweig, Germany;2. Department of Marketing, TU Dortmund University, Otto-Hahn-Str. 6, 44221 Dortmund, Germany;3. Newcastle University Business School, 5 Barrack Road, Newcastle upon Tyne NE1 4SE, United Kingdom;1. University of Paderborn, Marketing Department, Warburger Strasse 100, 33098 Paderborn, Germany;2. BOMAG GmbH, Hellerwald, 56154 Boppard, Germany;1. City University London, UK;2. WU Vienna, Austria;3. Babes-Bolyai University of Cluj-Napoca, Romania |
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| Abstract: | Macroeconomic developments, such as the business cycle, have a remarkable influence on firms and their performance. In business-to-business (B-to-B) markets characterized by a strong emphasis on long-term customer relationships, market orientation (MO) provides a particularly important safeguard for firms against fluctuating market forces. Using panel data from an economic upturn and downturn, we examine the effectiveness of different forms of MO (i.e., customer orientation, competitor orientation, interfunctional coordination, and their combinations) on firm performance in B-to-B firms. Our findings suggest that the impact of MO increases especially during a downturn, with interfunctional coordination clearly boosting firm performance and, conversely, competitor orientation becoming even detrimental. The findings further indicate that both the role of MO and its most effective forms vary across industry sectors, MO having a particularly strong impact on performance among B-to-B service firms. The findings of our study provide guidelines for executives to better manage performance across the business cycle and tailor their investments in MO more effectively, according to the firm's specific industry sector. |
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