Market and Resource-Based Marketing Strategy for Micro-Enterprises

MSMEs are a key industrial sector in Indonesia in driving national economic growth. However, in some cases, micro-entrepreneurs are often unable to optimize the potential of market attractiveness and their unique resources to leverage their business performance. Therefore, it is necessary to examine and analyze the ability of microentrepreneurs to utilize their markets and resources in creating and implementing marketing strategies. A quantitative associative research method was employed to assess those and the relationship between exogenous and endogenous variables among micro-entrepreneurs who received subsidized bank credit as part of the government incentive program from the Bank of BRI, also known as KUR, in the DKI Jakarta region. The sampling technique employed was a proportional-clustered-random sampling method, with a sample size of 400 respondents. Data were collected through observation, literature review, interviews, and cross-sectional questionnaires, which were analyzed using SEM. The results showed a significant influence of market attractiveness and resources on marketing strategies, both partially and simultaneously. Competition intensity and human resources play a dominant role in formulating marketing strategies. The findings of this study are valuable for assessing the effectiveness of subsidized bank credit absorption in improving the business performance of micro-enterprises.

Micro-Entrepreneurs, Marketing Strategies, Bank Credit, Market Attractiveness and Resources.

1. Alhassan, A.-R., & Akudugu, M. (2020). Commodity Value Chain Structures. In Supply Chain Management in African Agriculture: Innovative Approaches to Commodity Value Chains. (pp. 23– 35). https://doi.org/10.1007/978-3-030-54209-2_2 [Google Scholar] [Crossref]

2. Balqis, F., & Saroso, D. S. (2024). The Influence of Social Commerce Construct on Social Shopping Intention: The Mediating Effects of Customers’ Trust. International Research Journal of Innovations in Engineering and Technology, 8(8), 1–9. [Google Scholar] [Crossref]

3. Bank Indonesia. (2020). Bab VI Transformasi UMKM untuk Pertumbuhan Ekonomi yang Inklusif. Laporan Perekonomian Indonesia, 1(01), 18. [Google Scholar] [Crossref]

4. Barney, J., & Clark, D. (2023). Resource-Based Theory: Creating and Sustaining Competitive Advantage. Oxford University Press. https://doi.org/10.1093/oso/9780199277681.001.0001 [Google Scholar] [Crossref]

5. Best, R. J. (2000). Market-based Management: Strategies for Growing Customer Value and Profitability (S. Yagan & E. Gardner, Eds.; 3rd editio). Prentice Hall. [Google Scholar] [Crossref]

6. https://books.google.co.id/books?id=ZyNIzX7LDlQC [Google Scholar] [Crossref]

7. Cardeal, N., & António, N. (2012). Valuable, rare, inimitable resources and organization (VRIO) resources or valuable, rare, inimitable resources (VRI) capabilities: What leads to competitive advantage? South African Journal of Business Management, 6(37), 10159–10170. https://doi.org/10.5897/AJBM12.295 [Google Scholar] [Crossref]

8. Chandler, G. N., & Hanks, S. H. (1994). Market attractiveness, resource-based capabilities, venture strategies, and venture performance. Journal of Business Venturing, 9(4), 331–349. https://doi.org/https://doi.org/10.1016/0883-9026(94)90011-6 [Google Scholar] [Crossref]

9. Chinakidzwa, M., & Phiri, M. (2020). Exploring digital marketing resources, capabilities and market performance of small to medium agro-processors. A conceptual model. Journal of Business and Retail Management Research, 14(2). [Google Scholar] [Crossref]

10. https://doi.org/https://doi.org/10.24052/JBRMR/V14IS02/ART-01 [Google Scholar] [Crossref]

11. Collis, D. J., & Montgomery, C. A. (2005). Corporate Strategy: A Resource-based Approach. McGraw-Hill/Irwin. https://books.google.co.id/books?id=bfOcvgEACAAJ [Google Scholar] [Crossref]

12. Cravens, D W, & Piercy, N. (2012). Strategic Marketing (David W. Cravens & N. F. Piercy, Eds.; 10th ed.). McGraw-Hill. https://books.google.co.id/books?id=UycspwAACAAJ [Google Scholar] [Crossref]

13. Franco-Ángel, M., & Urbano, M. R. A. (2022). An Analysis of Marketing Strategy in Small-andMedium-sized Colombian Enterprises. Estudios Gerenciales, 38(165), 493–506. https://doi.org/10.18046/j.estger.2022.165.5286 [Google Scholar] [Crossref]

14. Goi, C. L. (2009). A Review of Marketing Mix: 4Ps or More? International Journal of Marketing Studies, 1(1), 2–15. https://doi.org/10.5539/ijms.v1n1p2 [Google Scholar] [Crossref]

15. Grynberg, R., & Newton, S. (Eds.). (2007). Commodity Prices and Development. Oxford University Press. https://doi.org/10.1093/acprof:oso/9780199234707.001.0001 [Google Scholar] [Crossref]

16. Haleuš, J., & Paganel, A. (2023). Creative Competencies and Innovation Marketing in the Context of Defining the Determinants of a Company’s Competitive Strategy. RUO. Revija Za Univerzalno Odlicnost, 12(4), 336–355. https://doi.org/https://doi.org/10.37886/ruo.2023.020 [Google Scholar] [Crossref]

17. Hitt, M., Ireland, R., & Hoskisson, R. (2013). Strategic Management: Competitiveness and Globalization. Cengage Learning, Inc. https://books.google.co.id/books/about/Strategic_Management_Concepts_and_Cases.html?id=wUP AAgAAQBAJ&redir_esc=y [Google Scholar] [Crossref]

18. Kotler, P., & Armstrong, G. (2017). Principles of Marketing, Seventeenth Edition. In Pearson (17th ed.). Pearson Higher Education. [Google Scholar] [Crossref]

19. https://books.google.co.id/books/about/Principles_of_Marketing.html?hl=id&id=ghi5zwEACAAJ& redir_esc=y [Google Scholar] [Crossref]

20. Kotler, P., & Armstrong, G. (2023). Principles of Marketing, Global Edition (M. Gaffney & S. Jackson, Eds.; 19th Ed.). Pearson Higher Education. [Google Scholar] [Crossref]

21. https://books.google.co.id/books?id=bna2EAAAQBAJ [Google Scholar] [Crossref]

22. Kotler, P., & Keller, K. L. (2012). Marketing Management (S. Yagan, E. Svendsen, & M. Sabella, Eds.; 14th Editi). Prentice Hall - New Jersey. https://books.google.co.id/books?id=OYjntgAACAAJ [Google Scholar] [Crossref]

23. Lu, H., & Shaharudin, M. S. (2024). Role of digital transformation for sustainable competitive advantage of SMEs: a systematic literature review. Cogent Business & Management, 11(1). https://doi.org/https://doi.org/10.1080/23311975.2024.2419489 [Google Scholar] [Crossref]

24. Martoyo, A., Sucherly, S., & Juju, U. (2025). The Impact of Market Attractiveness And Resource Uniqueness in Influence Marketing Performance Through Market Strategy. International Journal of Economics, Commerce, and Management, 2(2), 1–15. https://doi.org/10.62951/ijecm.v2i2.458 [Google Scholar] [Crossref]

25. Méndez-Suárez, M. (2021). Marketing mix modeling using PLS-SEM, bootstrapping the model coefficients. Mathematics, 9(15). https://doi.org/10.3390/math9151832 [Google Scholar] [Crossref]

26. Quinton, S., Canhoto, A., Molinillo, S., Pera, R., & Budhathoki, T. (2018). Conceptualising a digital orientation: antecedents of supporting SME performance in the digital economy. Journal of Strategic Marketing, 26(5), 427–439. https://doi.org/10.1080/0965254X.2016.1258004 [Google Scholar] [Crossref]

27. Saroso, D. S., Kristianto, I., & Rimawan, E. (2023). A Framework of SCOR Model Based on Systematic Literature Review: Case Study in Micro and Small Industries in Indonesia. International Journal of Research and Innovation in Social Science (IJRISS), VII(V), 902–917. https://doi.org/https://doi.org/10.47772/IJRISS.2023.70571 [Google Scholar] [Crossref]

28. Saroso, D. S., Rudystira, H., & Hesananda, R. (2024). Manajemen Perkreditan: Berbasis Pola Data Digital Anomali Aktivitas. Penerbit NEM. https://books.google.co.id/books?id=a_8XEQAAQBAJ [Google Scholar] [Crossref]

29. Sharabati, A. A. A., Ali, A. A. A., Allahham, M. I., Hussein, A. A., Alheet, A. F., & Mohammad, A. S. (2024). The Impact of Digital Marketing on the Performance of SMEs: An Analytical Study in Light of Modern Digital Transformations. Sustainability (Switzerland), 16(19), 1–25. https://doi.org/10.3390/su16198667 [Google Scholar] [Crossref]

30. Wahid, A., Afifah, V., & Saroso, D. S. (2022). Improving Marketing Performance of the Information Technology Industry. JITK (Jurnal Ilmu Pengetahuan Dan Teknologi Komputer), 7(2), 81–90. https://doi.org/10.33480/jitk.v7i2.2822 [Google Scholar] [Crossref]

31. Walker, O. C., Boyd, H. W., & Larréché, J. C. (1996). Marketing Strategy: Planning and Implementation (P. Ducham & S. M. Pankuch, Eds.; 2nd Editio). McGraw-Hill/Irwin. https://books.google.co.id/books?id=JIsoAQAAMAAJ [Google Scholar] [Crossref]

32. Wheelen, T., Hunger, J., Hoffman, A., & Bamford, C. (2017). Strategic Management and Business Policy: Globalization, Innovation and Sustainability, 15th Edition. [Google Scholar] [Crossref]

33. Zéman, Z., & Bogdan, A. (2019). Marketing Strategy and Building. Ekonomicko-Manazerske Spektrum, 13(2), 1–9. [Google Scholar] [Crossref]

• The Indirect Effect of Liquidity and Activity on Company Value with Profitability as an Intervening Variable
• Effect of Financial Skills, Knowledge, and Attitude on The Financial Behaviour of Clergy
• A Decade of Review: Trends in Budget Execution and Financial Performance of Development Projects in Tanzania (2014/15-2023/24)
• The Influence of Pre-Project Planning on the Budget Absorption Rate of Public Funded Infrastructure Projects in Kenya a Comparative Case Study of Narok, Migori, and Kisii County Government Projects
• Assessment of Factors Influencing Digital Transformation in Hotels’ Facility Management in Abuja Metropolis, Nigeria