Stimulating SMEs Performance based on Marketing Mix Approach: A Study of Featured SMEs in Medan

Arlina Nurbaity Lubis, Prihatin Lumbanraja, Beby Kendida Hasibuan

2018

Abstract

Micro, small and medium enterprises not only have an important role in employment and increase economic growth, but also contributed to the gross domestic product which gave a great contribution to the economy of Indonesia. It also provide important role to adapt in Industry 4.0 as most of enterprises in Indonesia were based on SMEs. This study aimed to evaluate the role of marketing mix to stimulate the performance of SMEs thus promoting growth for the future along the SMEs' readiness toward industry 4.0. A number of 180 owner of featured SMEs in Medan participated in this study. The data were collected by self-administered questionnaires and analyzed using multiple regression analysis. The result showed that current SMEs is moving slowly to adapt in industry 4.0. In addition, marketing mix played important role to stimulate SMEs' performance. The most important aspect of marketing mix was product development to stimulate SMEs' performance.

Paper Citation

in Harvard Style

Lubis A., Lumbanraja P. and Hasibuan B. (2018). Stimulating SMEs Performance based on Marketing Mix Approach: A Study of Featured SMEs in Medan.In Proceedings of the International Conference of Science, Technology, Engineering, Environmental and Ramification Researches - Volume 1: ICOSTEERR, ISBN 978-989-758-449-7, pages 1425-1431. DOI: 10.5220/0010080714251431

in Bibtex Style

@conference{icosteerr18,
author={Arlina Nurbaity Lubis and Prihatin Lumbanraja and Beby Kendida Hasibuan},
title={Stimulating SMEs Performance based on Marketing Mix Approach: A Study of Featured SMEs in Medan},
booktitle={Proceedings of the International Conference of Science, Technology, Engineering, Environmental and Ramification Researches - Volume 1: ICOSTEERR,},
year={2018},
pages={1425-1431},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0010080714251431},
isbn={978-989-758-449-7},
}

in EndNote Style

TY - CONF

JO - Proceedings of the International Conference of Science, Technology, Engineering, Environmental and Ramification Researches - Volume 1: ICOSTEERR,
TI - Stimulating SMEs Performance based on Marketing Mix Approach: A Study of Featured SMEs in Medan
SN - 978-989-758-449-7
AU - Lubis A.
AU - Lumbanraja P.
AU - Hasibuan B.
PY - 2018
SP - 1425
EP - 1431
DO - 10.5220/0010080714251431