Market orientation and performance in the biotechnology industry: An exploratory empirical analysis

Abstract

The purpose ofthis study was to conduct an exploratop investig-ation into the link between market orientation and business performance in the bioteChnology sector. Based on the nature and character of the biotechnology industy, a multifaceted scale of market orientation was derivedfrom a preuiousb tested and r&ed measure ofthe construct. Data were generatedfrom 62 biotechnologyjm and a variep of market onintation-pPCformance relationships were investig-ated, alongside other potential efects on the dgerent dimensions of business performance. l 3 e jndings indicate that market orientation is positiveb and sign$cant& associated with three of the four pPlformance measures examined. Implications of our jndingsfor biotechnology industry managers are discussed and limitations ofthe study as well as&ture research directions are addressed.

An Empirical Study on Entrepreneurial Orientation, Absorptive Capacity, and SMEs’ Innovation Performance: A Sustainable Perspective

“…Many scholars analyze the innovation performance of enterprise with EO in a dynamic environment from the two aspects of market uncertainty and technological uncertainty [52,56]. Market uncertainty generally changes customer needs and preferences, and technological uncertainty usually shows the rapid replacement of new technologies and new products [57].…”

The Role of Market Knowledge in Recognizing and Exploiting Entrepreneurial Opportunities in Technology Intensive Firms

“…Interestingly, also market knowledge contributes significantly and positively to higher sales turnover. This should be expected in the light of existing marketing literature, where understanding of markets and customers has been linked to superior firm performance Appiah-Adu and Ranchhod 1998;Matsuno et al 2002). The (non)-finding that the variable "entrepreneurial opportunities recognized" does not influence either one of the selected sales measures is most likely a consequence of the fact that the biotechnology product development cycles expand years, even decades.…”

Market orientation and financial performance of English professional football clubs

“…[34][35][36][37] Following in this tradition, the questionnaire used in this study consisted of 21 questions designed to obtain numerical scores for customer orientation, competitor orientation and interfunctional coordination. The technique enables an assessment of degree of market orientation which can then be associated with the chosen performance measures.…”