The Second-Order Confirmatory Analysis of Modern Marketing Mix for Small and Medium-Sized Enterprises
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Abstract
The findings revealed the following:
1. First-Order Confirmatory Factors of the modern marketing mix for SMEs consist of: creating positive experiences (Experience), providing value for customers to justify spending (Exchange), ensuring easy accessibility through online platforms (Everywhere), and building loyal customers (Evangelism), in that order.
2. Second-Order Confirmatory Factors, based on the highest factor loadings of each component, are: Creating positive experiences: Consistent communication through social media (LY15 = 0.61). Providing value for customers to justify spending: Developing customer profiles by segmenting customers into smaller groups for a more precise understanding of their needs (LY22 = 0.63). Ensuring easy accessibility through online platforms: Effectively using social media by selecting appropriate channels, creating engaging content, and interacting with customers (LY32 = 0.55). Building loyal customers: Establishing business partnerships through collaborations with influencers and e-commerce platforms (LY45 = 0.52), respectively.
Article history: Received 5 July 2024
Revised 1 October 2024
Accepted 4 October 2024
SIMILARITY INDEX = 10.11%
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