The document summarizes a study conducted on Pegasus Leather Limited, a leather manufacturer in Bangladesh. It discusses the company's background, founding, products, vision, competitors and clients. It then describes the author's internship in the company's sales and marketing department. The remainder of the document outlines the author's research on the relationship between market orientation, antecedents of market orientation like top management emphasis, organizational factors and business performance. It presents hypotheses and uses statistical analysis like Pearson's correlation and regression analysis on data collected from the company to show significant relationships between market orientation, product performance and ultimately business performance. The analysis finds support for the hypotheses that market orientation positively impacts business goals.

1. Market Orientation:
Expedition from Antecedents
to Business Performance
SHADMAN SHAKIB
ID# 1230298
Major in Marketing, SB,IUB.
A study of Pegasus Leather Limited (Concern of Jamuna Group)

2. “Research is to see what everybody else has seen, and to
think what nobody else has thought.”- Albert Szent-Gyorgyi (Hungarian Nobel prize
winner physiologist)
Hello!!

3. Pegasus Leather Limited
a place for everything, everything in a place
The
Company

4. Alternative Leather Industry Research
Founded in 1997 and since then they have inclined toward achieving
utmost clients satisfaction by meeting or exceeding expectation
Produce premium Synthetic Leather, Artificial Leather, Coated
Fabric, PU/ PVC Leather, Rexine.
More than 100 employees are working to maintain
No.1 manufacturer in the industry by crossing 50$
million revenue

5. Alternative Leather Industry Research
Founded in 1997 and since then they have inclined toward achieving
utmost clients satisfaction by meeting or exceeding expectation
Produce premium Synthetic Leather, Artificial Leather, Coated
Fabric, PU/ PVC Leather, Rexine.
More than 100 employees are working to maintain
No.1 manufacturer in the industry by crossing 50$
million revenue

6. Alternative Leather Industry Research
Founded in 1997 and since then they have inclined toward achieving
utmost clients satisfaction by meeting or exceeding expectation
Produce premium Synthetic Leather, Artificial Leather, Coated
Fabric, PU/ PVC Leather, Rexine.
More than 100 employees are working to maintain
No.1 manufacturer in the industry by crossing 50$
million revenue.

7. Vision
Statements
We view business as a means to the material and social wellbeing
of the investors, employees at large leading to accretion of wealth
through financial and moral gains
Produce and provide quality services and innovative products ,
maintain ethical standard and ensure benefit to the stakeholders
and peoples of Bangladesh.
To accomplish our vision and Mission we are constantly parsing
for besetment of socio-economic life of our people.
Mission
Objective

8. Matters
Apex Shoe Limited
Rangpur Metal Limited
United Rexine
Sonargaon Rexine
Samira Rexine
Otobi Limited
Navana Furniture
Bata Shoe Limited
Competitors
Clients

9. Pegasus Leather Limited
Just like footprints in the sand , Each step signifies
the journey taken
The
Internship

10. The Internship
I Started to gain a good
insight in to how the
industry works.
s
Sales & Marketing
Department

11. • Some of the studies that reported a positive and significant relationship between
market orientation and business performance (Slater & Narver, 2000); (Shoham &
Rose, 2001); (Pelham, et al., 2001)
• (Wei & Morgan, 2004) reported a negative association between market orientation
and business performance;
• Whereas, the study of (Mokhter, et al., 2014); (Oztoran, et al., 2014) found a mixed
findings between Market orientation – performance relationships.
This research attempt to extend the antecedents of MO, to
the product and business performance relationship.
Purpose of the Research

12. starts with
Antecedents but
satisfies the entire
business journey
ANTECEDENTS
MARKET
ORIENTATION
PRODUCT
PERFORMANCE
BUSINESS
PERFORMANCE

13. Pegasus Leather Limited
Just like footprints in the sand , Each step signifies
the journey taken
Market Orientation
& Issues

14. Market Orientation
A philosophy focused on discovering and
meeting the needs and desires of its
customers through its product mix.

15. Antecedents of Market Orientation
Antecedents to a market orientation(MO)
refer to organizational factors that enhance
or impede the implementation of the MO
concept. (Deshpande, et al., 1998 )

16. STARTING WITH “WHY”

17. STARTING WITH “WHY”
WHY MARKET
ORIENTATION?

18. Antecedents of Market Orientation
Top management emphasis & risk taking
Interdepartmental connectedness
Organizational reward system
Essential Matters for Antecedents

19. Relationship with Market orientation and Top Management
Mo is achievable if top managers realize the need to develop positive attitude
towards market orientation.
Unless clear signals from top managers about the importance of being responsive to
customer need, the organization isn’t likely to be market oriented (Levitt & Theodore, 1969);
(Webster, 1988)
Willingness to take risks will encourage and facilitate organization wide
commitment to innovation and responsiveness. (Kohli & Jaworski, 1990)
Risk taking ability helps to shape organizational values to promote and
reinforce behaviors necessary to serve needs of customers, better than their
key competitors.

20. Antecedents of Market Orientation
Top management emphasis & risk taking
Interdepartmental connectedness
Organizational reward system
Essential Matters for Antecedents

21. Relationship with Market orientation and Interdepartmental Connectedness
The greater the extent to which individuals across departments are directly
connected (or networked), the more they are likely to exchange market
intelligence and respond to it in a concerted fashion. (Kohli & Jaworski, 1990)
Fosters interdependency within the company and encourages employees to act in a
concerted manner in the processes of knowledge generation and knowledge
utilization. (Kohli & Jaworski, 1993)
Connectedness between departments facilitates interaction and the exchange of
information, as well as the actual utilization of the information. (Ruekert & Walker, 1987

22. Antecedents of Market Orientation
Top management emphasis & risk taking
Interdepartmental connectedness
Organizational reward system
Essential Matters for Antecedents

23. Relationship with Market orientation and Organizational Reward System
The key to developing a market- driven, customer-oriented business lies in
how managers are evaluated and rewarded. (Webter, 1988)
Reward systems are instrumental in shaping the behaviors of employees (Anderson &
Chamber, 1985); (Jaworski & Berdard, 1988)
Rewards will more readily generate market intelligence, disseminate it internally,
and be responsive to market needs.

24. Product Performance
A consumer's perception of
the level of performance
displayed by a product.

25. Relationship with Market orientation and Product Performance
The relationship is based on organizational culture, values and belief that
ensure superior product performance.
Importance in marketing & increase investment to selling and promoting the
product to create a distinctive image on customers’ mind which has huge impact on
product performance. (Maidique & Zirger, 1984)
A market orientation focus for the efforts and projects of individuals and
departments in organizations, thereby leading to better product performance. (Ruekert
& Robert, 1992)

26. Business Performance
Business performance is a
combination of management and
analytic processes that allows
managers of an organization to
achieve pre -determined goals.

27. Relationship with Business Performance and Product Performance
Business performance depends on maximum selling of particular product
which is expressing strong connection between these two.
Important for organizational performance because of the Confront increased levels
of competition, market environments, higher rates of technical obsolescence, and
shorter product life cycles (Griffin & Abbie, 1997)
Product R&D is a core factor that converts a market-oriented culture into superior
organizational performance through product performance (Slater, et al., 1994).

28. Relationship with Market orientation and Business Performance
Regarding BP, market orientation has relation with competitive capabilities,
competitors’ activities and sources of advantage (Kohli & Jaworski, 1990).
High levels of customer satisfaction; to keep existing customers loyal; to attract new
customers; and subsequently to attain the desired level of growth, market share, and
hence of organizational performance.
Company should make sure that market orientation technique had completed
properly unless wrong information from customers and executives will be the
reason of business failure.
Organizational performance represents the financial and marketing
performance of a company which is also strongly related with economic value
(Slater & Narver, 1994)

29. Pegasus Leather Limited
A theoretical structure of assumptions, principles, and rules that
holds together the ideas comprising a broad concept.
Conceptual
Frameworks

30. Questions?
King, it's the
Kingdom

31. QUESTION NUMBER 1 𝐻01: There is no relationship between top management
emphasis & risk taking and Market Orientation
𝐻 𝑎1: There is a relationship between top management emphasis
& risk taking and Market orientation.
QUESTION NUMBER 2 𝐻02: There is no relationship between Interdepartmental
Connectedness and Market Orientation
𝐻 𝑎2: There is a relationship between Interdepartmental
Connectedness and Market orientation.
QUESTION NUMBER 3 𝐻03: There is no relationship between Organizational Reward
System and Market Orientation
𝐻 𝑎3: There is a relationship between Organizational Reward
System and Market orientation.

32. QUESTION NUMBER 4 𝐻04: There is no relationship between Product Performance and
Market Orientation
𝐻 𝑎4: There is a relationship between Product Performance and
Market orientation.
QUESTION NUMBER 5 𝐻05: There is no relationship between Product and Business
Performance.
𝐻 𝑎5: There is a relationship between Product and Business
Performance.
QUESTION NUMBER 6 𝐻06: There is no relationship between Business Performance
and Market Orientation
𝐻 𝑎6: There is a relationship between Business Performance and
Market orientation.

33. Pegasus Leather Limited
Methodology gives those with no ideas something to do
Research
Methodologys

34. Company
1 75
Types EmployeeDepartments
96
Sample Size
109
Respondent
82.05%
Success Rate

35. Research Methodology
38.54%
Executives
Five Points
Likert Scale
53
Questions
17
SPSS
Personal
Interview

36. Pegasus Leather Limited
The goal is to turn data into information, and information
into insight
Analysis &
Testing

37. Reliability Test
Cronbach’s Alpha Internal Consistency
∝≥ 0.9 Excellent
0.7 ≤∝< 0.9 Good
0.6 ≤∝< 0.7 Acceptable/ Sufficient
0.5 ≤∝< 0.6 Poor
∝< 0.5 Unacceptable
Aspects of
questionnaire
Top
Management
Emphasis &
Risk Taking
Interdepartmental
Connectedness
Organizational
Reward System
Market
Orientation
Product
Performance
Business
Performance
Cronbach 𝛼 .773 .696 .649 .892 .817 .654

38. Regression Analysis
Used to find out which independent variable individually and collectively provide
a meaningful contribution towards the explanation of the dependent variable.
Reject H∅, P≤0.05.
𝑹 𝟐
(𝐒𝐪𝐮𝐚𝐫𝐞) 0.753
Business Performance (dependent Variable) 75.3% can be explained
by the Antecedents and Market Orientation, Product Performance
(Independent Variables).
.753 which indicates how much of the dependent variable, "Business Performance", can be explained by the independent variable

39. LET’S COME TO
THE POINT

40. Pearson’s Correlation: To see the relationship
Hypothesis testing: If correlation coefficient P≠0 and α<0.05, then accept alternative hypothesis (Gujarati, 2006)
Pearson’s correlation (r) Value State of relationship
.00-.19 Very Weak
.20-.39 Weak
.40-.59 Moderate
.60-.79 Strong
.80-1.0 Very Strong

41. Results continuing………………
Question Hypothesis Pearson’s Correlation Selected
Hypothesis
State of
relation
r Value 𝛼( Alpha)
Is there any relation between
top management emphasis &
risk taking and Market
Orientation?
𝐻01
.734** .000 𝐻 𝑎1 Strong
𝐻 𝑎1
Is there any relation between
interdepartmental
connectedness and Market
Orientation
𝐻02
.770** .000 𝐻 𝑎2 Strong
𝐻 𝑎2
Is there any relation between
organizational reward system
and Market Orientation
𝐻03
.789** .000 𝐻 𝑎3 Strong𝐻 𝑎3
** correlation is significant at the 0.01 level (p<0.01) so the chance of being no Type 1 error is 99 percent.

42. Results continuing………………
Question Hypothesis Pearson’s Correlation Selected
Hypothesis
State of
relation
r Value 𝛼 (Alpha)
Is there any relation between
market orientation and
product performance?
𝐻04
.839** .000 𝐻 𝑎4 Very Strong
𝐻 𝑎4
Is there any relation between
product and business
performance?
𝐻05
.818** .000 𝐻 𝑎5 Very Strong
𝐻 𝑎5
Is there any relation between
market orientation and
business performance
𝐻06
.835** .000 𝐻 𝑎6 Very Strong𝐻 𝑎6
** correlation is significant at the 0.01 level (p<0.01) so the chance of being no Type 1 error is 99 percent.

43. Comment
All variables are reliable and remarkably dependent
variable explained by independent variables.
However, hypothesis testing denotes the significant
relation of all factors

44. Pegasus Leather Limited
Conclusive
Remarkss

45. Limitation & Future Research Suggestions
• Environmental factors and suppliers which are not considered in this study
• Sample size is relatively small and it is based one organization only
• More appropriate, if the evaluation of market orientation would have come
from both company and customer point of view

46. Decisions & Outcomes
in our Research?
#uberwebinar @uberflip @ON24

47. Decision for Research
The analysis have shown that business
performance is mainly related to the
product performance, market orientation,
and its antecedents. And those things has
statistically significant positive effect on
the “Business Performance”.

48. QUESTION TIME!

49. THANK YOU!!