Market orientation, competitive advantage, and performance: A demand-based perspective |
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Authors: | Kevin Zheng Zhou James R Brown |
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Institution: | a Department of Marketing, Belk College of Business, University of North Carolina at Charlotte, Charlotte, NC 28223, United States b College of Business and Economics, P.O. Box 6025, West Virginia University, Morgantown, WV 26506-6025, United States c School of Hotel Administration, Cornell University, Ithaca, NY 14853-6901, United States |
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Abstract: | This study assesses how customer value affects a firm's market orientation and consequently, competitive advantage and organizational performance in a service industry — the global hotel industry. The findings show that if a firm perceives its customers as valuing service, the firm is more likely to adopt both a customer and a competitor orientation; if the firm thinks its customers are price sensitive, the firm tends to develop a competitor orientation. Moreover, the greater a firm's customer orientation, the more the firm is able to develop a competitive advantage based on innovation and market differentiation. In contrast, a competitor orientation has a negative effect on a firm's market differentiation advantage. Finally, innovation and market differentiation advantages lead to greater market performance (e.g., perceived quality, customer satisfaction) and in turn, higher financial performance (e.g., profit, market share). |
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