Market Orientation and Value Resonance Innovation Capability: A Synergistic Approach to Enhance Firm Performance
Market Orientation and Value Resonance Innovation Capability: A Synergistic Approach to Enhance Firm Performance

Summary/Abstract: Considering the context of enterprises, market orientation implies a strategy approach centred on establishing a deep understanding of the needs and interests of customers. Value resonance innovation capability evaluates the extent to which a company's offerings are capable of providing significant value for customers, as well as the company's ongoing capacity to innovate in order to set itself apart from rivals and enhance performance. The conceptual relationship between market orientation toward value resonance, creative abilities and business performance is examined and developed in this study. The study was carried out statistically with a sample of 264 respondents who were micro, small, and medium-sized Batik industry owners in Central Java, Indonesia. SEM-PLS was then utilised to process the data that was gathered from the distribution of the questionnaire. The results of the investigation highlight that market orientation improves value resonance and innovation capabilities. Value resonance innovative capability improves competitive advantage and business performance. Furthermore, competitive advantage influences firm performance. These findings help us appreciate the relevance of market orientation in providing relevant value for customers, enhancing a firm value ability to innovate, and boosting corporate performance in order to remain competitive in an increasingly competitive market.

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