Nana Akosua Nyarko-Baafi
University of Ghana, Ghana
Title: The Impact of Market Orientation Strategy on Oil Marketing Company's Performance: A Case Study of Ghana
Biography
Biography: Nana Akosua Nyarko-Baafi
Abstract
Over five decades, corporate market oriented strategy has been recognized as a pillar of superior company performance by both academics and practitioners. Market orientation has attracted significant amount of academic and practitioner’s interest in the current literature in both manufacturing and services industry.
OMC’s (oil marketing companies) engage in the sales and marketing of petroleum products through established retail outlets and industrial or commercial network.
Market share trends of the oil marketing companies in Ghana indicate that, the competition in the industry is very keen. The intensity of in the industry is influenced by an increase in the number of competitors.
These prevailing conditions have led to competitive advantage .Customers have more power than ever before. I therefore sought to assess the impact of market orientation on GOIL’S performance and competitiveness in Ghana. The study was a descriptive cross sectional study. Both primary and secondary data were collected during the study through written questionnaires, review of manuals and oral interviews.
The empirical investigation concludes that, there are close correlation between market orientation and companies’ performance and effectiveness, making the former significant basis for building a competitive advantage.