COMPETITIVE EDGE OF MICRO AND SMALL ENTERPRISES ON MARKETING STRATEGIES IN TANDANGSORA, QUEZON CITY: BASIS FOR BENCHMARKING INDICATORS FOR BUSINESS SUCCESS

Abstract

Micro and small enterprises (MSEs) are indeed vital to economic development, particularly in developing countries, where they often face significant challenges. Beyond limited access to finance, markets, and digital infrastructure, additional hurdles include inadequate business skills, lack of formalization, and vulnerability to economic fluctuations. study employs a mixed-methods design, integrating both quantitative and qualitative approaches to examine micro and small enterprises (MSEs) in the food industry. This methodology facilitates a comprehensive understanding of the entrepreneurs' profiles, competitive strategies, challenges, and success indicator.  A mixed-methods design combines quantitative and qualitative research methods, providing a nuanced perspective on complex research questions. This approach is particularly effective when neither qualitative nor quantitative methods alone are sufficient to address the research objectives. For instance, a study on stress prevention in MSEs utilized a mixed-methods design to evaluate the effectiveness of interventions and the implementation process via a web-based platform.   Key Focus Areas:  Entrepreneur Profiles: Understanding the demographic and professional backgrounds of the entrepreneurs aids in identifying patterns and factors influencing business operations and success. A study exploring the readiness of MSEs to adopt mobile money in Indonesia found that many entrepreneurs were initially unaware of mobile money services, indicating a need for awareness-raising initiatives. ​   Competitive Strategies: Analyzing the strategies employed by these entrepreneurs to navigate the market offers insights into effective practices and areas needing support. For example, research on SMEs' use of Management Control Systems (MCS) in Portugal revealed that managers prioritize both financial and non-financial measures, utilizing key performance indicators to guide strategic decision.  Challenges Encountered: Identifying the obstacles faced by these businesses, such as market access, financial constraints, and competition, informs the development of targeted support mechanisms. A study on stress prevention in MSEs highlighted that understanding the implementation process and effectiveness of web-based interventions can help identify and overcome common barriers, improving employee mental health within these enterprises. ​   Success Indicators: Defining and understanding the metrics of success from the entrepreneurs' perspectives facilitates the assessment of business performance and the effectiveness of implemented strategies. The study on mobile money adoption readiness identified that attitude and social influence significantly impact entrepreneurs' intention to adopt such services, emphasizing the importance of perceived credibility and usefulness. ​ The study provides valuable insights into the profiles, competitiveness, and challenges faced by micro and small enterprises (MSEs) in Tandang Sora, Quezon City. The findings align with existing research on MSEs in the Philippines, highlighting both commonalities and specific concerns within this locality. study's recommendations for supporting micro and small enterprises (MSEs) in Tandang Sora, Quezon City, are well-founded and align with best practices observed globally. Implementing these strategies can significantly enhance the growth and sustainability of MSEs in the region.​  1. Providing Accessible Financing Options:  Access to affordable and flexible financing is crucial for MSEs to innovate and expand their operations. Traditional loan structures may not always meet the unique needs of these enterprises. Alternative financial instruments, such as grants, equity financing, and risk-tolerant capital, have proven effective in driving innovation and business growth among small firms. ​ ssir.org  2. Enhancing Competitiveness Through Product Innovation and Digital Marketing:  Staying competitive requires continuous product innovation and effective marketing strategies. Local governments can play a pivotal role by organizing hubs—both online and physical—where business representatives can network, exchange ideas, and collaborate. These platforms facilitate the sharing of best practices and foster a community of support among entrepreneurs. ​ openaccessgovernment.org  3. Diversifying Product Offerings and Collaborating with Other Businesses:  Diversification helps mitigate risks and tap into new market segments. Encouraging collaboration among businesses can lead to shared resources, knowledge exchange, and joint marketing efforts, thereby enhancing overall competitiveness. Such collaborations can also open up new distribution channels and customer bases. ​  4. Developing and Implementing Comprehensive Support Programs:  Local governments and relevant authorities should design and implement support programs tailored to the specific needs of MSEs. These programs can include financial literacy workshops, mentorship opportunities, and assistance in navigating regulatory frameworks. By understanding the unique challenges faced by MSEs, governments can create policies and initiatives that foster a conducive environment for business growth. ​  Additional Recommendations:  Facilitating Networking Opportunities: Organizing networking events and workshops can help MSEs connect with potential partners, customers, and suppliers, fostering business growth and collaboration. ​   Providing Mentorship and Training: Establishing mentorship programs and training sessions can equip entrepreneurs with essential skills in business management, marketing, and financial planning, enhancing their capacity to run successful enterprises. ​  Ensuring Regulatory Support: Simplifying bureaucratic processes and offering legal support can reduce the operational burdens on MSEs, allowing them to focus more on business development. ​   By integrating these recommendations, stakeholders can create a supportive ecosystem that nurtures the growth and sustainability of MSEs in Tandang Sora, Quezon City, ultimately contributing to local economic development and job creation.​