International Journal of Research Studies in Management
CollabWritive Special Issue
2024 Volume 12 Issue 16
Available Online: 6 December 2024
Author/s:
Xi, Yunling
Graduate School, Lyceum of the Philippines University – Batangas, Philippines
Abstract:
This study aims to examine the market competitive innovation, business intelligence application and international market strategy of Chinese valve enterprises to enhance the competitive advantage in the global market, basis for a framework of global market competitiveness advantage. Specially, the market competition innovation was evaluated from three aspects: market research analysis, use of e-commerce and online social platforms, and data-driven decision-making process. Business intelligence application was evaluated from three application scenarios covering procurement management, quality control management and customer relationship management. International market strategy was evaluated in terms of market selection, sales performance assessment and price strategy. Finally, a framework of competitiveness advantage in the global market was formed. Descriptive research and correlational research methods were used in this study, and the questionnaire design provided valuable factual material, formed scientific judgments, and provided important knowledge. Firstly, the study shows that innovation is an important factor to enhance the competitiveness of valve enterprises in the global market. In today’s digital age, information technology innovation helps enterprises realize technological innovation, product innovation and management innovation, to improve the product market competitiveness. The application of information technology helps enterprises to carry out market research and analysis more efficiently. E-commerce platforms and social media marketing have opened up new sales channels in overseas markets. The data-driven decision-making process improves the efficiency of enterprise decision making and market insight. Secondly, through business intelligence tools, companies have improved supply chain management, improved product quality, reduced production costs, and improved customer satisfaction, thus standing out in the global market. Innovation and digital reforms have prompted companies to develop more favorable international market strategies to adapt to the changing international market environment. Thirdly, using business intelligence and information technology, enterprises have a deeper and more comprehensive analysis and understanding of the international market and can make informed choices. The company regularly evaluates the sales performance of selected markets and continuously updates the market scope that needs to be focused on investment. Using advanced information technology means, enterprises can scientifically formulate price strategies to help maximize international marketing revenue. Furthermore, the study finds that the three independent variables of market competitive innovation, business intelligence application and international market strategy are highly positively correlated. Innovation drives the development of business intelligence, and at the same time, the positive feedback of business intelligence applications will continue to encourage innovation and upgrading. Meanwhile, business intelligence applications help enterprises to accurately formulate international market strategies, and the successful implementation of market strategies will, in turn, affirm the effect of business intelligence applications, prompting enterprises to continue to invest in business intelligence. Moreover, innovation is conducive to enterprises to develop accurate and forward-looking market strategies, while successful international market strategies provide important support for enterprises continuously to innovate. Continuous innovation can provide enterprises with a competitive advantage, support and strengthen the execution and implementation of their international market strategy. Therefore, enterprises should closely combine innovation, digital application and international market strategy to form a virtuous circle, so as to enhance the competitive advantage of enterprises in the global market. Finally, based on the interaction among those three independent variables, a framework is formed to enhance the competitive advantage of enterprises in the global market.
Keywords: innovation, business intelligence application, market strategy, market competitiveness advantage, valve industry
DOI: https://doi.org/10.5861/ijrsm.2024.1320
Cite this article:
Xi, Y. (2024). Market competitive innovation, business intelligence application and international market strategies in China’s valve manufacturing industry: Basis for global market competitiveness advantage framework. International Journal of Research Studies in Management, 12(16), 25-41. https://doi.org/10.5861/ijrsm.2024.1320