Peer Reviewed Open Access

This paper is reviewed in accordance with the Peer Review Program of IRA Academico Research

The Correlation of 4Ps of Marketing in the Business Performance of MSEs in Palayan City, Nueva Ecija

Fhrizz S. De Jesus, Winnie C. Villanueva
DOI: http://dx.doi.org/10.21013/jems.v18.n2.p2
Abstract
The researchers’ primary considerations in conceptualizing what aspects should be introduced into the business marketing strategy with the business performance of Small and Medium Enterprises in Palayan City, Nueva Ecija. This research is critical for companies that want to improve their business performance by providing better service. This study created a business plan for MSEs to use the Marketing Mix and improve customer satisfaction by improving business performance. This study used a quantitative research design and descriptive analysis to describe and summarize the data that was gathered. The research was carried out at 30 licensed MSEs in and around Palayan City, Nueva Ecija. The researchers used a total enumeration technique to simply identify all of the respondents who met the criteria for the study. A total of 30 respondents were surveyed, the majority of whom were rank and file owners of licensed SMEs. The information gathered from the respondents was encoded, tallied, and analyzed using statistical tools such as Percentage, Frequency Distribution, Weighted Mean, Pearson r, and Thematic Analysis. The findings revealed a significant relationship between the respondents' marketing mix and business performance. Furthermore, the majority of respondents are dissatisfied with the business performance they are providing. The MSE owner can adapt improvements in business performance such as promotional strategy, lowering expenses, improving product quality, and providing good service to increase sales revenue and business growth. It is recommended that the researchers' development plan be used to assist respondents in gaining more knowledge about improving business performance to increase efficiency and effectiveness and may serve as a guide for the MSE to approach, which would increase the business's productivity and sale revenue in the long run.
Keywords
4Ps of Marketing, Business Performance, MSE
Full Text:
PDF
References

Amine, L. S., and Cavusgil, S. T. (2001). Export marketing strategies in the British clothing industry. European Journal of Marketing, 20(7), 21-33.

Borden, Neil. H. (1984) The concept of marketing mix, Journal of Advertising Research, 1 (9), 2-7

Barney, J. B. (1996). Gaining and sustaining competitive advantage. New York: Addison-Wesley

Chaston, I. (1997) Small Firm Performance, Assessing the Interaction between Entrepreneurial Style and Organizational Structure. European Journal of Marketing, 31, 814-831.

Colpan, A. M. (2006). Dynamic effects of product diversity, international scope and Keiretsu membership on the performance of Japan’s textile firms in the 1990s. Asian Business and Management, 5(3), 419-445.

Gibson et al. (2014). Small Business Owner Satisfaction with Financial Performance: A Longitudinal Study. Retrieved from: https://www.researchgate.net/publication/268743628_Small_Business_Owner_Satisfaction_with_Financial_Performance_A_Longitudinal_Study , Accessed on April 7, 2022.

Haghighinasab et al. (2013). Marketing Strategies And The Performance Of Small And Medium Enterprises In Akwa Ibom State, Nigeria Ebitu, Ezekiel Tom, PhD. Retrieved from;https://www.eajournals.org/wp-content/uploads/Marketing-Strategies-and-the-Performance-of-Small-and-Medium-Enterprises-in-Akwa-Ibom-State-Nigeria.pdf. Accessed on April 11, 2022.

Jobber D, (1995) Marketing Strategies of Small and Medium Enterprises: A Sample Survey. Retrieved from: https://www.researchgate.net/publication/261721534_Marketing_Strategies_of_Small_and_Medium_Enterprises_A_Sample_Survey Accessed on February 20, 2022

Jones . S (2007), Exploring corporate strategy: text & cases. 8th edition.

Khan, M. T. (2014). The concept of 'marketing mix' and its elements (a conceptual review paper). International Journal of Information, Business and Management, 6(2), 95.

Kazem, A., and Heijden, B. V. D. (2006). Exporting firms‟ strategic choices: the case of Egyptian SEMs in the food industry. S.A.M. Advanced Management Journal, 71(3), 21-33.

Kotler & Keller (2008). Marketing Strategies of Small and Medium Enterprises: A Sample Survey. Retrieved from: https://www.researchgate.net/publication/261721534_Marketing_Strategies_of_Small_and_Medium_Enterprises_A_Sample_Survey Accessed on April 05, 2022

Kotler P (2007). Marketing: An introduction, New Jersey: Pearson Education Inc.

Meng, X. (2013, May). Scalable simple random sampling and stratified sampling. In International Conference on Machine Learning (pp. 531-539). PMLR.

Mohammad A.H, Wang A and Sunayya B (2012). Investigating on Tourists satisfaction: An empirical study on East Lake. European Journal of Business and Management. Vol.4 No.7

Novak, D. (2011). Promotion as an instrument of marketing mix. In International Symposium Engineering Management and Competitiveness (EMC2011) June (pp. 24-25).

Owaga, G. A. (2018). Strategic Marketing Management Practices Employed By Local Garment Making MSES and Their Effect on Competitiveness in Nairobi County, Kenya. Unpublished Doctoral dissertation, Kenyatta University.

Owomoyela S.K, Oyeniyi K.O and Ola O.S, (2013). Investigating the impact of marketing mix elements on consumer loyalty: An empirical study on Nigerian Breweries Plc. Interdisciplinary Journal Of Contemporary Research In Business. 4 (11), 485 –496.

Republic Act No. 6977, (2020). Micro, Small And Medium Enterprises: What Businesses Are Considered MSMEs. Retrieved from; Micro, Small and Medium Enterprises: What Businesses are Considered MSMEs » Philippine e-Legal Forum (pnl-law.com) Accessed on February 21, 2022

Roberto (2002). Marketing Strategy And Its Effect On Small Scale Business. Retrieved from;https://www.academia.edu/40783524/MARKETING_STRATEGY_AND_ITS_EFFECT_ON_SMALL_SCALE_BUSINESS. Accessed on April 11, 2022

Salaria, N. (2012). Meaning of the term descriptive survey research method. International journal of transformations in business management, 1(6), 1-7.

Sauerwein, E., Bailom, F., Matzler, K., & Hinterhuber, H. H. (1996, February). The Kano model: How to delight your customers. In the International working seminar on production economics (Vol. 1, No. 4, pp. 313-327).

Sheetal, S., & Kumar, R. (2012). Marketing strategies of small and medium enterprises: A sample survey. International Journal of Management Sciences, 1(2), 60-71.

Shi, S. (2016). Customer relationship and sales. Journal of Economic Theory, 166, 483-516.

Spillan & Parnell (2006). Marketing Strategies And The Performance Of Small And Medium Enterprises In Akwa Ibom State, Nigeria Ebitu, Ezekiel Tom, PhD. Retrieved from;https://www.eajournals.org/wp-content/uploads/Marketing-Strategies-and-the-Performance-of-Small-and-Medium-Enterprises-in-Akwa-Ibom-State-Nigeria.pdf. Accessed on April 11, 2022.

Venugopal, K., Getenet, S., & Yalew, F. The Impact Of Marketing Mix Strategies On Micro And Small Business Enterprises Performance. In Case Study of Manufacturing Enterprises in Gondar City Administration, Ethiopia), ‘Forum for Intellectual Academicians and Researchers Publications’ First Edition: 2017, Copyright© forum4researchers ISBN: 978-81-935201-2 (Vol. 3).


©IRA Academico Research & its authors
This article is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License. This article can be used for non-commercial purposes. Mentioning of the publication source is mandatory while referring this article in any future works.