Publication: Exploring the link between market orientation and innovation in the European and US insurance markets
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2001
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Emerald
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Abstract
Despite the increasing research importance of market orientation in the marketing
literature, few comparative studies between the European Union and the USA have been
conducted. This limits the understanding of marketing orientation strategy in global markets.
Investigates the influence of competitive environments on the uses of market orientation in
insurance firms in the EU and the USA and the effects of market orientation on innovations.
Using Lambin's conceptualization of market orientation, our results indicate that, although EU
and US insurance firms analyze and react to their environment differently, which in turn is
reflected in a differential impact on their degree of innovation, this, however, does not translate
into overall market orientation differences across markets, differential relations across markets
between overall market orientation and innovation degree and innovation performance.
Furthermore, there is a positive impact of overall market orientation on insurance firms'
innovation degree and innovation performance in both the US and EU markets. The managerial
implications of these findings seem clear: the magnitude and the effectiveness of the innovation
activities of a firm can be enhanced through the adoption of market orientation principles
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Keywords
Market orientation, Innovation, Global marketing, Insurance companies
Bibliographic citation
International Marketing Review, 2001, v. 18, n. 2, pp. 130-145