A Study of the Effects of Market Orientation, Marketing Capabilities, and Commercialization of Innovation on the Performance of Insurance Companies

Market orientation (MO) which helps companies achieve superior performance through customer value creation is the heart of modern marketing thinking and method. The purpose of this study is to investigate the effects of market orientation, marketing capabilities, and commercialization of innovation on the performance of insurance companies, considering the moderating role of marketing strategies and organizational strength. This is an applied study in terms of purpose, and a descriptive survey in terms of data collection method. The statistical population of the present study is composed of the representatives of Sina Insurance Company. By using the PLS3 software to analyze 86 sets of questionnaires collected from the company's representatives, the researchers found that market orientation of insurance companies has an impact on the commercialization of their innovation. The market orientation of the insurance company affects their performance. Also, the market orientation of the insurance company has an impact on their marketing capabilities. On the other hand, the marketing capabilities and commercialization of these companies exert an influence on their performance. Marketing strategies moderate the impact of marketing capabilities on the insurance companies in a positive way. However, the organizational power does not modify the impact of marketing capabilities of the insurance companies on their performance. It was also found that marketing capabilities and commercialization of innovation function as minor intermediaries.