MARKET ORIENTATION AND BUSINESS PERFORMANCE FROM BEHAVIOURAL PERSPECTIVE – THE CASE OF SLOVAKIA

  • 1 Faculty of Economics – Matej Bel University in Banska Bystrica, Slovakia

Abstract

In the context of highly competitive global markets, challenging customer needs and increasing dynamics of business environment, businesses try to identify and apply the most effective practices whose enforcement will lead to superior performance. It becomes necessary for businesses operating in competitive environment to efficiently generate, disseminate and respond to market information. Market orientation is a concept that has appeared as a significant predictor of business performance. The main aim of the paper is to examine market orientation of businesses operating in Slovakia through MARKOR measurement method with the respect to business performance measured through the financial and non-financial indicators. The MARKOR method enables to gain information about specific behavioural reactions of business on critical aspects of a market such as competition, customers, regulation, social and macroeconomic forces. Research findings may help businesses to identify the most relevant elements that subsequently could be implemented with the intention of reaching better position on the market.

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