MARKET ORIENTATION AND PERFORMANCE OF LARGE PROPERTY COMPANIES IN HONG KONG

It has long been asserted that market orientation is not necessary for property developers in Hong Kong because the market is basically a seller's market, even though many academicians believe that market orientation is the prerequisite for the successful operation of any company. To test this assertion empirically, this study looked into the nature of the correlational relationship between market orientation and company performance using sample data from large property companies in Hong Kong. A modified version of Kotler's questionnaire for measuring the extent of market orientation was used. The results showed that there is no significant correlational relationship between market orientation and business performance. In other words, there is no significant difference in the financial performance of companies that are market oriented and those that are not market oriented.