Market orientation and the property development business in Singapore

The property development business is often regarded as one of high risk and return. As such, developing a competitive advantage is critical. Extant literature suggests that market orientation is a form of sustainable competitive advantage for businesses. This paper is an attempt to test this relationship with specific reference to a high risk business such as property development. A market orientation scale is developed to measure the degree of market orientation in property development firms. The results show that there exists a significant positive relationship for two specific dimensions of market orientation, i.e., profit orientation and responsiveness with business performance and marketing performance. Furthermore, empirical findings showed that the relationship between market orientation and marketing performance was stronger than with business performance. Rinkos orientacija ir nekilnojamojo turto plėtros verslas Singapūre Santrauka Nekilnojamojo turto plėtros verslas dažnai laikomas itin rizikingu ir pelningu. Todėl būtina įgyti konkurencini pranašumą. Dalykinėje literatūroje rašoma, kad rinkos orientacija ‐ tai subalansuoto konkurencinio pranašumo forma versle. Straipsnyje mėginama ši ryši patikrinti, nagrinėjant būtent itin rizikinga verslą, tokį kaip nekilnojamojo turto plėtra. Sukurta rinkos orientacijos skale, kuria remiantis matuojamas rinkos orientacijos laipsnis nekilnojamojo turto plėtros firmose. Rezultatai rodo, kad yra nemažas teigiamas ryšys tarp dviejų konkrečiu rinkos orientacijos aspektu, t. y. orientacijos į pelną ir reagavimo i verslo rezultatus bei i rinkodaros rezultatus. Be to, empirines išvados rodo, kad rinkos orientacijos ryšys su rinkodaros rezultatais yra stipresnis nei su verslo rezultatais. First published online: 18 Oct 201

Market orientation and the property development business in Singapore

The property development business is often regarded as one of high risk and return. As such, developing a competitive advantage is critical. Extant literature suggests that market orientation is a form of sustainable competitive advantage for businesses. This paper is an attempt to test this relationship with specific reference to a high risk business such as property development. A market orientation scale is developed to measure the degree of market orientation in property development firms. The results show that there exists a significant positive relationship for two specific dimensions of market orientation, i.e., profit orientation and responsiveness with business performance and marketing performance. Furthermore, empirical findings showed that the relationship between market orientation and marketing performance was stronger than with business performance. Rinkos orientacija ir nekilnojamojo turto plėtros verslas Singapūre Santrauka Nekilnojamojo turto plėtros verslas dažnai laikomas itin rizikingu ir pelningu. Todėl būtina įgyti konkurencini pranašumą. Dalykinėje literatūroje rašoma, kad rinkos orientacija ‐ tai subalansuoto konkurencinio pranašumo forma versle. Straipsnyje mėginama ši ryši patikrinti, nagrinėjant būtent itin rizikinga verslą, tokį kaip nekilnojamojo turto plėtra. Sukurta rinkos orientacijos skale, kuria remiantis matuojamas rinkos orientacijos laipsnis nekilnojamojo turto plėtros firmose. Rezultatai rodo, kad yra nemažas teigiamas ryšys tarp dviejų konkrečiu rinkos orientacijos aspektu, t. y. orientacijos į pelną ir reagavimo i verslo rezultatus bei i rinkodaros rezultatus. Be to, empirines išvados rodo, kad rinkos orientacijos ryšys su rinkodaros rezultatais yra stipresnis nei su verslo rezultatais. First published online: 18 Oct 201