The marketing and strategy literature has long urged companies to become more market oriented, the suggested means for doing so ranging from developing a market-oriented organisational culture to carrying out various activities related to generating, disseminating and responding to market information. The methodological approach to translating market demands into company competencies presented in this article also allows us to develop a method for determining how to create value in a given market, by investigating the links between market demand and company competencies. The theoretical basis of our approach is drawn from the competence literature, while the method is based on the concept of managerial cognition. After identifying market demands, we then link these to company competencies through a cognitive mapping procedure using key informants from industry. The article contributes to an increased understanding of the complex relationship between market and company and to the development of methodological approaches to determining the creation of market value in a specific situation. It also serves to link the market orientation and competence literature.
Journal of Business Research, 2004, Vol 57, Issue 5, p. 533-547
HHÅ forskning; Værdiskabelse; Markedsorientering; Markedsefterspørgsel; Virksomhedskompetencer; Kognitiv mapping; Value creation; Market orientation; Market demand; Company competencies; Cognitive mapping