3. Implements that strategy by being responsive to customer needs and wants.
John C. Narver and Stanley F. Slater (1990).
They state that the market orientation consists of 3 behavioral components:.
Customer orientation, competitor orientation, interfunctional coordination and two-decision criteria-long term focus and profitability.
1. Customer Orientation - is the sufficient understanding of the target buyers to be able to create superior value for them continuously.
2. Competitor Orientation means that the seller understands the short-term strengths and weakness, capabilities and strategies of competitors.
3. Interfuncational Coordination is the coordinated utilization of company resources in creating superior value for target customers.
Similarities:.
The similarities of these definitions are:.
1. All 3 definitions speak about the customer and about fulfilling their present and future needs. .
2. They (Narver and Slater) also speak about gathering information from customers and developing strategies and implementing them to create superior value for the customers whereas Shapiro emphasizes on the decision making process.
3. Acquiring information from the market regarding competitors (Naver and Slater). They speak of internal coordination within the organization eliminating various boundaries existing within an organization.
The definitions of Kholi and Jaworski have been accepted as a base definition for market orientation by a majority of researchers.
Differences:.
Kholi and Jawaroski view profitability as a consequence of marketing rather than a part of it, they state, "the idea that profitability is a component of market orientation is conspicuously absent in the field findings-.
Narver and Slater hold a compromise position regarding profitability as the objective of market orientation. They consider profitability though conceptually closely related to market orientation, it is suitably perceived as a business objective.