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Market orientation and resource adjustments during economic recession - a business network perspective

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Abstract:

What is the role of marketing during the present economic recession? What guidance for resource adjustments will firms get from being "market oriented"? Answers depend on what market perspective the firm applies. Market orientation in a business networks perspective on markets implies that information and learning about the market as well as value creation in the market to an important extent are due to interaction within specific exchange relationships embedded in dynamic business networks. During the last decades increasing interdependencies have been developed between firms and between markets. Resource adjustments during the recession, involving also changes in network relationships, should be based on an understanding of how they affect relationships and value creation, also in a longer term perspective. The marketing function in the market oriented firm has an important role to guide the firm in these matters.

Keywords: BUSINESS NETWORKS; ECONOMIC RECESSION; MARKET ORIENTATION; RESOURCE ADJUSTMENTS

Document Type: Research Article

DOI: https://doi.org/10.1362/147539209X459778

Publication date: 2009-06-01

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