Marketing intelligence: Innovation ability to anticipate global competition

Abstract

Making strategic decisions in a dynamic business environment has become a challenge for business people, especially in small and medium-sized enterprises (SMEs). Contextual knowledge gained in understanding the external environment is a factor that must be owned by every business person so that they gain a competitive advantage in increasing competition. This study aims to test the Entrepreneurial Performance model. The research was conducted on SMEs in West Java, in the city of Bandung. The sample selection was determined using the purposive sampling method and obtained 170 respondents as a sample. The analysis was carried out using the Structural Equation Model (SEM). The results of the study indicate the fit model after modification and produce an alternative model in the form of a correlation between Marketing Intelligence and Entrepreneurial Performance. Marketing Intelligence, Product Innovation and Competitive Advantage have a direct significant influence on Entrepreneurial Performance. Product Innovation partially has no significant effect on Competitive Advantage. This research is expected to contribute to SMEs in the city of Bandung to always have a good knowledge before making a decision. This knowledge includes an understanding of trends, media, competitors, and suppliers. The limitation in this study is also in its scope, which is only limited to a few SMEs in the city of Bandung. It is expected that future researchers will add samples and use other variables that can improve entrepreneurial performance.