Skip to: search, navigation, or content.

Indiana University Bloomington

Department of Finance

Have a Question?

Please feel free to contact us.



Our top-ranked finance faculty are authors of leading textbooks.

Research and Publications

Journal Articles

Market Orientation, Marketing Capabilities, and Firm Performance

2009, Strategic Management Journal

Neil A. Morgan, Douglas W. Vorhies, Charlotte H. Mason


Drawing on traditional resource-based theory and its recent dynamic capabilities theory extensions, we examine both the possession of a market orientation and the marketing capabilities through which resources are deployed into the marketplace as drivers of firm performance in a cross-industry sample. Our findings indicate that market orientation and marketing capabilities are complementary assets that contribute to superior firm performance. We also find that market orientation has a direct effect on firms' return on assets (ROA), and that marketing capabilities directly impact both ROA and perceived firm performance.


Morgan, Neil A., Douglas W. Vorhies, and Charlotte H. Mason (2009), “Market Orientation, Marketing Capabilities, and Firm Performance,” Strategic Management Journal, Vol. 30, No. 8, pp. 909-920.