ANALYSIS OF MARKET ORIENTATION (MO) AND CORPORATE ECONOMIC PERFORMANCE USING ARTIFICIAL NEURAL NETWORKS (ANN)

Market orientation represents a business method that focuses on learning about and catering to customer wants and needs. This study investigates the relationship between market orientation (MO) and corporate financial performance using an artificial neural network model (ANN). Consequently, the infl...

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Bibliographic Details
Published inTransformations in Business & Economics Vol. 22; no. 3A; p. 767
Main Authors Tian, Xiaohua, Lu, Fei, Xu, Cuirong
Format Journal Article
LanguageEnglish
Published Kaunas Vilnius University, Kaunas Faculty of Humanities 01.01.2023
Subjects
Assets
Corporate governance
Customers
Economic performance
Efficacy
Financial performance
Market orientation
Marketing
Neural networks
Organizational performance
Reliability
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Summary:Market orientation represents a business method that focuses on learning about and catering to customer wants and needs. This study investigates the relationship between market orientation (MO) and corporate financial performance using an artificial neural network model (ANN). Consequently, the influence of Market Orientation on corporate performance (NN-MOCP) is analyzed in order to identify novel connections and justifications between these two concepts. The study findings indicate that the marketing prowess of the enterprise significantly affects its perceived performance whereas market orientation directly affects the Return On Assets (ROA). The study results also suggest that the application of ANNs to predict the potential customers' reliability based on the elements that influence consumer engagement might increase the efficiency of market direction. Hence, the results confirm the efficacy of ANNs in exploring hidden patterns in the market orientation data, specifically for customers and prospective assessment, and behavioral prediction of firm performance.
ISSN:1648-4460
2538-872X