International Journal of Research Studies in Management
CollabWritive Special Issue
2024 Volume 12 Issue 15
Available Online: 20 October 2024
Author/s:
Fang, Liuyue
Graduate School, Lyceum of the Philippines University – Batangas, Philippines (FLY0612@sina.com)
Abstract:
In today’s rapidly evolving business landscape, business agility is no longer a luxury, but a necessity for survival. This concept allows companies, including small and medium enterprises (SMEs) in the competitive auto parts industry, to adapt and thrive amidst changing market dynamics, customer demands, and technological advancements. Marketing strategy, competitive advantage, and business success contribute to achieving business agility. The study aimed to examine the marketing strategy, competitive advantage and business performance among SME Auto Parts in Beijing, China that will be the basis in developing a business Agility Framework for SMEs. A descriptive approach was used in this study to systematically define the conditions, and assess the variables that were examined. Target respondents are 385 employees of small and medium-sized auto parts manufacturing firms in Beijing, China. A survey questionnaire was used for data collection which was subsequently analyzed using the SPSS software. Based on the findings of the study, the respondents agreed on the marketing strategies in terms of performance marketing, digital marketing and relationship marketing. SME auto part companies exhibit competitive advantage as to cost leadership, service quality and flexibility as agreed upon by the respondents. The respondents have good assessment on the business performance as to financial performance, operational performance and sustainability performance. There was a statistically significant relationship between performance marketing and sustainability performance and between relationship marketing and sustainability performance. Business agility framework for the SME auto parts sector was developed to maintain strong customer ties and adapt to market shifts.
Keywords: business agility, business performance, competitive advantage marketing strategies, sustainability performance
DOI: https://doi.org/10.5861/ijrsm.2024.1297
Cite this article:
Fang, L. (2024). Marketing strategy, competitive advantage and business success among SME auto parts: Basis for business agility framework. International Journal of Research Studies in Management, 12(15), 1-11. https://doi.org/10.5861/ijrsm.2024.1297