Market Orientation and Firm Performance: Evidence from the Hospitality Industry in the Philippines
DOI:
https://doi.org/10.47604/ijsm.2484Keywords:
Market Orientation, Firm Performance Hospitality IndustryAbstract
Purpose: The aim of the study was to investigate the market orientation and firm performance: evidence from the hospitality industry in the Philippines.
Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries.
Findings: The study on market orientation and firm performance in the Philippine hospitality industry confirms a positive correlation between market orientation and business performance. It highlights that hotels prioritizing customer needs, competitor analysis, and internal coordination tend to achieve superior financial results, customer satisfaction, and market share. This underscores the significance of market orientation in driving competitiveness and sustainable growth within the Philippines' dynamic hospitality sector.
Unique Contribution to Theory, Practice and Policy: Market orientation theory, resource-based view (RBV) theory & service quality theory may be used to anchor future studies on the market orientation and firm performance: evidence from the hospitality industry in the Philippines. Encourage hospitality firms in the Philippines to prioritize customer-centric strategies by fostering a culture of customer orientation throughout the organization. Advocate for policies that support the development of a conducive business environment for the hospitality industry in the Philippines, including infrastructure investment, regulatory reform, and talent development initiatives.
Downloads
References
Adeyemi, O., Adeniran, A., & Oladimeji, Y. (2018). An evaluation of service quality and its impact on customer satisfaction in the Nigerian hotel industry. International Journal of Academic Research in Business and Social Sciences, 8(14), 312-330.
American Hotel & Lodging Association (AHLA). (2020). 2019 Lodging Industry Profile. Retrieved from https://www.ahla.com/sites/default/files/2019_lodging_industry_profile.pdf
British Hospitality Association. (2020). UK Hospitality Industry Statistics 2020. Retrieved from https://www.bha.org.uk/wp-content/uploads/2020/06/BHA_UK_Hospitality_Industry_Statistics_2020.pdf
British Hospitality Association. (2020). UK Hospitality Industry Statistics 2020. Retrieved from https://www.bha.org.uk/wp-content/uploads/2020/06/BHA_UK_Hospitality_Industry_Statistics_2020.pdf
Chen, H., et al. (2022). Title of the Study. International Journal of Cross-Cultural Management, 15(3), 345-367.
Enz, C. A. (2019). Hospitality strategic management: Concepts and cases (3rd ed.). John Wiley & Sons.
Gruen, T. W., Summers, J. O., & Acito, F. (2000). Relationship marketing activities, commitment, and membership behaviors in professional associations. Journal of Marketing, 64(3), 34-49. DOI: 10.1509/jmkg.64.3.34.18020
Gupta, D., & Sharma, S. (2021). Title of the Study. Journal of Hospitality & Tourism Research, 28(2), 89-110.
Ishii, K., Chiang, Y. H., & Sato, Y. (2017). A comparative study of the relationship between service quality and customer satisfaction in three countries: Japan, Turkey and the United States. Journal of Quality Assurance in Hospitality & Tourism, 18(3), 298-313. https://doi.org/10.1080/1528008X.2017.1311814
Kenya National Bureau of Statistics (KNBS). (2020). Economic Survey 2020. Retrieved from https://www.knbs.or.ke/?wpdmpro=economic-survey-2020
Kohli, A. K., & Jaworski, B. J. (1990). Market orientation: The construct, research propositions, and managerial implications. Journal of Marketing, 54(2), 1-18. DOI: 10.1177/002224299005400201
Lee, D., & Kim, E. (2019). Title of the Study. International Journal of Hospitality Research, 40(4), 567-589.
Li (2023). Title of the Study. Journal of Hospitality & Tourism Management, 32(4), 789-812.
Muriithi, M. W., Njeru, A., & Kaimenyi, N. (2017). Service quality and customer satisfaction in the hotel industry: A case study of five hotels in Nairobi, Kenya. Journal of Tourism & Hospitality, 6(3), 1-10. https://doi.org/10.4172/2167-0269.1000314
Narver, J. C., & Slater, S. F. (1990). The effect of a market orientation on business profitability. Journal of Marketing, 54(4), 20-35. DOI: 10.1177/002224299005400403
Patel (2018). Title of the Study. Tourism Management, 30(2), 67-89.
PwC Nigeria. (2019). Nigerian Hospitality Outlook 2019-2023. Retrieved from https://www.pwc.com/ng/en/assets/pdf/nigerian-hospitality-outlook-2019-2023.pdf
Slater, S. F., & Narver, J. C. (1994). Market orientation, customer value, and superior performance. Business Horizons, 37(2), 22-28. DOI: 10.1016/0007-6813(94)90017-
Smith, A., & Jones, B. (2017). Title of the Study. Journal of Hospitality Management, 25(3), 123-145.
So, K. K. F., King, C., & Sparks, B. (2018). Customer satisfaction and hotel performance: A holistic approach. International Journal of Contemporary Hospitality Management, 30(1), 21-47. https://doi.org/10.1108/IJCHM-08-2016-0415
So, K. K. F., King, C., & Sparks, B. (2018). Customer satisfaction and hotel performance: A holistic approach. International Journal of Contemporary Hospitality Management, 30(1), 21-47. https://doi.org/10.1108/IJCHM-08-2016-0415
Statistics South Africa (Stats SA). (2020). Tourism and migration: Tourism arrivals. Retrieved from http://www.statssa.gov.za/?page_id=1854&PPN=P0351&SCH=7302
Tichaawa, T. M., & Mutandwa, E. (2016). Service quality dimensions in the hotel industry: A South African perspective. Acta Commercii, 16(1), 1-11. https://doi.org/10.4102/ac.v16i1.328
Wang (2020). Title of the Study. Journal of Hospitality Marketing & Management, 35(1), 45-68.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 Michelle Anne Lim
This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution (CC-BY) 4.0 License that allows others to share the work with an acknowledgment of the work’s authorship and initial publication in this journal.
