Abstract: With the rapid growth of the business industry Marketing field received a significant amount of attention from the business people in different countries when compare with the past. Unlike past, today most of the businesses have realized about the importance of the market orientation practices as a strategy to maintain profitable relationships for achieve goals and objectives of the organizations. Most of the businesses give priority to identify whether they are market oriented or not. In order todo so numerous measures are applied by the professionals.
Although there are many measurement models of Market Orientation have been developed by different scholars, most widely used the MKTOR model (Customer Orientation, Competitor Orientation and Inter Functional Coordination) introduced by Slater and Naver in 1993. But they did not take in to account societal marketing and the corporate social responsibility when developing MKTOR model. Today most of the people both customer and businesses tend to concern about the social benefits. Therefore this paper discuss about the importance of the social benefits as a strategy to gain profits and maintain profitable relationships. Further, this paper introduced an advance model called NEWMKTOR Model of Market Orientation to measure the market orientation by adding a new variable to the MKTOR model introduced by the Slater and Naver (1993). It is a new perspective of market oriented strategies.
Keywords: Market Orientation. MKTOR Model, NEWMKTOR Model.
Title: Measurement Model of the Market Orientation: New Theoretical Framework: NEWMKTOR Model
Author: Umesh Gunarathne W.H.D.P
International Journal of Management and Commerce Innovations
ISSN 2348-7585 (Online)
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