Conceptual Model for Innovation in the Approach of Market - Oriented Strategies

Authors

  •   Jonathan Bermúdez-Hernández Assistant Professor (Corresponding Author), Instituto Tecnológico Metropolitano, Calle 54A No. 30-01, Departamento de Ciencias Administrativas, Medellín
  •   Alejandro Valencia-Arias Associate Professor, Instituto Tecnológico Metropolitano, Calle 54A No. 30-01, Departamento de Ciencias Administrativas, Medellín
  •   Walter Mauricio Montaño-Arias Professor, Corporación Universitaria Americana, Carrera 44 No. 49-92, Medellín

DOI:

https://doi.org/10.17010/ijom/2021/v51/i12/167217

Keywords:

Market Orientation

, Innovation, Marketing, Strategy.

Paper Submission Date

, August 11, 2020, Paper Sent Back for Revision, March 10, 2021, Paper Acceptance Date, June 15, Paper Published Online, December 15, 2021.

Abstract

Market orientation refers to a set of cross-sectional functional processes and activities aimed at satisfying customer expectations through a continuous assessment of their needs. This includes processing information to generate market intelligence from the entire organization with respect to said needs: current and future. This study proposed a market orientation model (based on the one introduced by Narver and Slater) that allows organizations to identify the most critical factors for innovation in their market-oriented approach. A self-administered questionnaire was distributed to 307 employees at different companies in Medellin, Colombia, and the data resulting from exploratory factor analysis (EFA) and confirmatory factor analysis (CFA) were used to build the model proposed in this study. It was identified that the two main variables related to innovation in market-oriented strategies are adaptation to changes in customer preferences and proactive behavior in the work environment.

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Author Biographies

Jonathan Bermúdez-Hernández, Assistant Professor (Corresponding Author), Instituto Tecnológico Metropolitano, Calle 54A No. 30-01, Departamento de Ciencias Administrativas, Medellín

ORCID iD : https://orcid.org/0000-0002-1475-153X

Walter Mauricio Montaño-Arias, Professor, Corporación Universitaria Americana, Carrera 44 No. 49-92, Medellín

ORCID iD : https://orcid.org/0000-0002-3820-1671

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Published

2021-12-10

How to Cite

Bermúdez-Hernández, J., Valencia-Arias, A., & Montaño-Arias, W. M. (2021). Conceptual Model for Innovation in the Approach of Market - Oriented Strategies. Indian Journal of Marketing, 51(12), 8–25. https://doi.org/10.17010/ijom/2021/v51/i12/167217

Issue

Volume 51, Issue 12, December 2021

Section

Articles
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Europe PMC

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