Challenges to implementing market orientation in the funds management industry

Westberg, K, Hallahan, T, Mulye, R, Schwartz, M and Stavros, C 2009, 'Challenges to implementing market orientation in the funds management industry', in Tojib, Dewi (ed.) Australian and New Zealand Marketing Academy Conference ANZMAC 2009, Monash University, 30 November - 2 December 2009, pp. 1-8.


Document type: Conference Paper
Collection: Conference Papers

Title Challenges to implementing market orientation in the funds management industry
Author(s) Westberg, K
Hallahan, T
Mulye, R
Schwartz, M
Stavros, C
Year 2009
Conference name Australian New Zealand Marketing Academy Conference ANZMAC 2009
Conference location Monash University
Conference dates 30 November - 2 December 2009
Proceedings title Australian and New Zealand Marketing Academy Conference ANZMAC 2009
Editor(s) Tojib, Dewi
Publisher Australian and New Zealand Marketing Academy ANZMAC
Place of publication Melbourne, Australia
Start page 1
End page 8
Total pages 8
Abstract Market orientation has been extensively discussed in the literature however few studies have examined the challenges associated with adopting this orientation from both a firm and industry perspective. This study used depth interviews with senior marketing executives to examine the extent of market orientation in the funds management industry in Australia and the challenges associated with its implementation. The findings suggest that, despite the recognised need for market orientation, the industry is still primarily sales and product driven. Significant cultural and structural changes within the industry and individual firms are required before a market orientation can be achieved. External drivers, such as increased competition and the adoption of distribution channels which facilitate relationships with end consumers, may hasten the transition.
Subjects Marketing Management (incl. Strategy and Customer Relations)
Keyword(s) market orientation
funds management
marketing strategy
ISBN 1863081585
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