Exploring the Relationship between Market Orientation and Innovation in SMEs: Evidence from Pakistan

Authors

  • Sadia Shaikh Benazir Bhutto Shaheed University, Karachi, Pakistan. Author
  • Muhammad Faisal Sultan KASBIT, Karachi, Pakistan.  Author
  • Imamuddin Khoso IBA, University of Sindh Jamshoro, Sindh, Pakistan. Author
  • Muhammad Ovais Jummani Independent Researcher. Author

DOI:

https://doi.org/10.52633/jms.v5i3.323

Keywords:

SMEs, Market Orientation, Innovation, Resource Based Theory (RBV), Competitive Advantage

Abstract

This study explores the relationship between market orientation and innovation in small and medium-sized enterprises (SMEs) in Pakistan. Market orientation, characterized by a business's focus on customer needs, competitor actions, and inter-functional coordination, is posited to be a key driver of innovation, which is crucial for the competitive advantage and growth of SMEs. The study has employed the Market Orientation Theory and the Resource-Based View (RBV) as its theoretical framework. Using a mixed-methods approach, the research combines quantitative data from surveys of SME managers and qualitative insights from in-depth interviews. The findings reveal a significant positive relationship between market orientation and both product and process innovations in Pakistani SMEs. The study highlights how understanding and responding to customer needs, monitoring competitor actions, and fostering internal collaboration contribute to the development of new products and services, as well as improvements in operational processes. Additionally, the research identifies several barriers to innovation, including resource constraints and limited market access, and provides recommendations for enhancing market-oriented practices within the SME sector in Pakistan. This study contributes to the literature on market orientation and innovation in emerging markets, offering practical implications for policymakers and business leaders aiming to foster a more innovative and competitive SME landscape in Pakistan.

Author Biographies

  • Sadia Shaikh, Benazir Bhutto Shaheed University, Karachi, Pakistan.

    Assistant Professor, Benazir School of Business, BBBSU, Karachi, Pakistan.

  • Muhammad Faisal Sultan, KASBIT, Karachi, Pakistan. 

     Assistant Professor, Department of Business Administration, KASBIT, Karachi, Pakistan. 

  • Imamuddin Khoso, IBA, University of Sindh Jamshoro, Sindh, Pakistan.

     Professor, IBA, University of Sindh Jamshoro, Sindh, Pakistan.

  • Muhammad Ovais Jummani, Independent Researcher.


    Independent Researcher.

References

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Published

30-09-2023

How to Cite

Exploring the Relationship between Market Orientation and Innovation in SMEs: Evidence from Pakistan. (2023). Journal of Marketing Strategies, 5(3), 320. https://doi.org/10.52633/jms.v5i3.323

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