Market orientation and Steel firms' performance: A mixed-method study from India

Market-oriented firms strive to grasp consumers’ explicit and latent requirements and provide superior solutions to exceed their expectations. Market orientation entails integrating marketing ideas and disseminating customer value to achieve such targets. It is a valuable resource for gathering information about clients and competitors businesses. Studies have shown that market-oriented firms perform better when introducing new products in uncertain contexts and market orientation initiatives allow the organisations to gain advantage during uncertaintities. The present study assesses employees’ perceptions of market orientation efficiency in steel firms. Furthermore, it examines the impact of market orientation on a firm’s performance and examines the association between employees’ demographics and their perceptions of market orientation. A new measurement scale was formulated using a mixed-mode research method combining both qualitative and quantitative methods. Exploratory sequential method was adopted and accordingly the required data was collected through semi-structured interviews and a seven point Likert scale questionnaire was developed using Atlas-ti23 software. The theoretically derived research model was empirically validated using survey data from executives of steel sector in India. The collected data was analysed using multiple regression analysis. The findings reveal a significant association between market orientation and firm performance, shedding light on the nuances of market orientation implementation within steel firms. Additionally, there is a positive relation between demographic factors and attributes of market orientation. The study develops a better understanding of the factors determining the efficiency of market orientation processes in the steel sector. These insights offer valuable guidance for steel businesses seeking to enhance their market orientation strategies and improve organisational efficiency.