Employee perceptions of market orientation in the banking industry: A case from a developing country

The importance of this study stems from the desire to measure the market orientation of banks in a developing country such as Ghana, where the concept of market orientation is still a new practice. Specifically, the study was meant to investigate employee perceptions of market orientation and how th...

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Bibliographic Details
Published in:Journal of financial services marketing 2011-09, Vol.16 (2), p.139-152
Main Authors: Opoku, Robert A, Essien, Vincent B
Format: Article
Language:English
Subjects:
Banking industry
Banks
Competition
Developing countries
Economics and Finance
Employees
Finance
Financial Services
LDCs
Market orientation
Marketing
Original Article
Statistical analysis
Studies
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Summary:The importance of this study stems from the desire to measure the market orientation of banks in a developing country such as Ghana, where the concept of market orientation is still a new practice. Specifically, the study was meant to investigate employee perceptions of market orientation and how they differ in relation to employment status within a bank in a developing country. A slightly modified questionnaire based on Kohli, Jaworski and Kumar's market orientation scale (MARKOR) was used. The outcome of the study reveals that the MARKOR scale provides a good measure of market orientation in the Ghanaian banking environment. Although the general perception of market orientation is somewhat moderate, the findings further reveal that the management of the bank has a higher perception of market orientation than employees. Some recommendations have been provided for Ghanaian banks and their counterparts in other developing countries on the need for them to be market oriented.
ISSN:1363-0539
1479-1846
DOI:10.1057/fsm.2011.11