Yuwono, Wisnu; Fi iyan i, Sel iana Dwi; Nainggolan, Fe dinand
A icle
The impac o digi al ma ke ing inno a ion and s a egic o ien a ion on
i m pe o mance: Media ion by ma ke ing capabili y and mode a ion
by isk managemen
Re is a de Mé odos Cuan i a i os pa a la Economía y la Emp esa
P o ided in Coope a ion wi h:
Uni e sidad Pablo de Ola ide, Se illa
Sugges ed Ci a ion: Yuwono, Wisnu; Fi iyan i, Sel iana Dwi; Nainggolan, Fe dinand (2025) : The
impac o digi al ma ke ing inno a ion and s a egic o ien a ion on i m pe o mance: Media ion by
ma ke ing capabili y and mode a ion by isk managemen , Re is a de Mé odos Cuan i a i os pa a
la Economía y la Emp esa, ISSN 1886-516X, Uni e sidad Pablo de Ola ide, Se illa, Vol. 39, pp. 1-29,
h ps://doi.o g/10.46661/ e .me odoscuan .econ.emp esa.10841
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ARTÍCULOS 1
Cómo ci a : Yuwono, W., Fi iyan i, S. D., & Nainggolan, F. (2025). El impac o de la inno ación en ma ke ing digi al y la o ien ación es a égica en el endimien o de las emp esas: Mediación po la
capacidad de ma ke ing y mode ación po la ges ión del iesgo. Re is a De Mé odos Cuan i a i os Pa a La Economía Y La Emp esa, (39), 1-19. 10.46661/ e .me odoscuan .econ.emp esa.10841
El impac o de la inno ación en ma ke ing digi al y
la o ien ación es a égica en el endimien o de las
emp esas: Mediación po la capacidad de ma ke ing y
mode ación po la ges ión del iesgo
The Impac o Digi al Ma ke ing Inno a ion and S a egic
O ien a ion on Fi m Pe o mance: Media ion by Ma ke ing
Capabili y and Mode a ion by Risk Managemen
Wisnu Yuwono
Uni e si as In e nasional Ba am (Indonesia)
h ps://o cid.o g/0000-0001-7634-8618
[email p o ec ed]
Sel iana Dwi Fi iyan i
Uni e si as In e nasional Ba am (Indonesia)
h ps://o cid.o g/0009-0001-0253-9160
[email p o ec ed]
Fe dinand Nainggolan
Uni e si as In e nasional Ba am (Indonesia)
h ps://o cid.o g/0009-0001-6968-6624
[email p o ec ed]
RESUMEN
Las MIPYME han con ibuido al empleo y al c ecimien o económico. En la e a de la
Re olución Indus ial 4.0, las MIPYME se en en an a nume osos e os, en e ellos el
uso de la inno ación en ma ke ing digi al y la o ien ación es a égica pa a log a el
endimien o de la emp esa. En es a in es igación, el obje i o es analiza la in luencia
de la inno ación en ma ke ing digi al y la o ien ación es a égica en el endimien o
de la emp esa con la capacidad de ma ke ing como mediación y la in luencia de la
capacidad de ma ke ing en el endimien o de la emp esa mode ada po la ges ión
de iesgos. Es a in es igación es un es udio cuan i a i o desc ip i o con un en oque
de encues a a 279 encues ados de MIPYMES del sec o de alimen ación y bebidas.
Los da os ecogidos se p ocesa on median e Sma PLS y los esul ados mos a on
que la inno ación en ma ke ing digi al y la o ien ación es a égica ienen un e ec o
signi ica i o en la capacidad de ma ke ing y en el endimien o de la emp esa. La
capacidad de ma ke ing no iene un impac o signi ica i o en el endimien o de
la emp esa. La inno ación en ma ke ing digi al y la o ien ación es a égica con la
Uni e sidad Pablo de Ola ide (España)
Re is a de Mé odos Cuan i a i os pa a la Economía y la Emp esa
núme o 39, 2025
ISSN: 1886-516X
DOI: 10.46661/ e .me odoscuan .econ.emp esa.10841
Sección: A ículos
Recibido: 18-07-2024
Acep ado: 09-10-2024
Publicado: 26-06-2025
Páginas: 1-19
ARTÍCULOS 2
Wisnu Yuwono; Sel iana Dwi Fi iyan i; Fe dinand Nainggolan
El impac o de la inno ación en ma ke ing digi al y la o ien ación es a égica en el endimien o de las emp esas: Me-
diación po la capacidad de ma ke ing y mode ación po la ges ión del iesgo
N. 39, 2025 – ISSN: 1886-516X – DOI: 10.46661/ e .me odoscuan .econ.emp esa.10841 – [Págs. 1-19]
Re is a de Mé odos Cuan i a i os pa a la Economía y la Emp esa
capacidad de ma ke ing como a iable mediado a no ienen un e ec o signi ica i o
en los esul ados de la emp esa. La capacidad de ma ke ing y la o ien ación
es a égica con la ges ión de iesgos como a iable mode ado a no ienen un e ec o
signi ica i o en el endimien o de la emp esa. Los esul ados de es e es udio son una
apo ación pa a que las MIPYME aumen en el papel de la inno ación en ma ke ing
digi al, la es a egia de o ien ación y la capacidad de ma ke ing en el endimien o
de la emp esa. La ges ión del iesgo debe cons ui se aplicando el a amien o del
iesgo adecuado pa a pode impulsa el endimien o de la emp esa.
PALABRAS CLAVE
Inno ación en Ma ke ing Digi al; O ien ación Es a égica; Rendimien o de la Emp esa;
Capacidad de Ma ke ing; Ges ión del Riesgo.
ABSTRACT
MSMEs ha e con ibu ed o employmen and economic g ow h. The e a e many
challenges aced by MSMEs in he e a o Indus ial Re olu ion 4.0, including he use o
digi al ma ke ing inno a ion and s a egic o ien a ion o achie e i m pe o mance. In
his esea ch, he aim is o analyze he in luence o digi al ma ke ing inno a ion and
s a egic o ien a ion on i m pe o mance wi h ma ke ing capabili y as media ion
and he in luence o ma ke ing capabili y on i m pe o mance mode a ed by isk
managemen . This esea ch is a desc ip i e quan i a i e s udy wi h a su ey app oach
o 279 esponden s om MSMEs in he ood and be e age sec o . The collec ed da a
was p ocessed using Sma PLS, he esul s showed ha digi al ma ke ing inno a ion
and s a egic o ien a ion ha e a signi ican e ec on ma ke ing capabili y, and on i m
pe o mance. Ma ke ing capabili y is ha ing no signi ican impac on i m pe o mance.
Digi al ma ke ing inno a ion and s a egic o ien a ion wi h ma ke ing capabili y as
media ing a iable has no signi ican e ec on i m pe o mance. Ma ke ing capabili y
and s a egic o ien a ion wi h isk managemen as a mode a ing a iable ha e no
signi ican e ec on i m pe o mance. The esul s o his s udy a e inpu o MSMEs in
inc easing he ole o digi al ma ke ing inno a ion, o ien a ion s a egy and ma ke ing
capabili y owa ds company pe o mance. Risk managemen needs o be buil by
implemen ing he igh isk ea men in o de o be able o d i e i m pe o mance.
KEYWORDS
Digi al Ma ke ing Inno a ion; S a egic O ien a ion; Fi m Pe o mance; Ma ke ing Capabili y;
Risk Managemen .
Clasi icación JEL: Q55, M31, G32, L23.
MSC2010: 90B60, 91G45.
1. INTRODUCTION
Businesses o a ying sizes, including Mic o, Small, and Medium-sized En ep ises (MSMEs), sig-
ni ican ly play an impo an ole o a coun y’s economic de elopmen and g ow h (Fa ida &
Se iawan, 2022) jus as hey a e essen ial o ini ia ing employmen in o he de eloping coun ies
(A iyie e al., 2019). A he same ime, digi aliza ion e a as a esul o he e ec s o globaliza ion,
is al e ing economies and ans o ming he way businesses de elop ac oss he wo ld (Gaglio
e al., 2022). Businesses mus adap hei models in o de o be inno a i e and c ea i e o gain
g ow h (Reka i e al., 2018) and he le el o echnological inno a ion will de e mine compe i i-
eness (Beni es Gu ie ez e al., 2020) o o compe e in compe i i e business wo ld (Ra id e al.,
2023). Since he s a o he globaliza ion e a, mos businesses a e s uggling o be mo e inno-
ARTÍCULOS 3
Wisnu Yuwono; Sel iana Dwi Fi iyan i; Fe dinand Nainggolan
El impac o de la inno ación en ma ke ing digi al y la o ien ación es a égica en el endimien o de las emp esas: Me-
diación po la capacidad de ma ke ing y mode ación po la ges ión del iesgo
N. 39, 2025 – ISSN: 1886-516X – DOI: 10.46661/ e .me odoscuan .econ.emp esa.10841 – [Págs. 1-19]
Re is a de Mé odos Cuan i a i os pa a la Economía y la Emp esa
a i e and c ea i e (Valdez-Juá ez & Cas illo-Ve ga a, 2021). Inno a ion is c ucial since i d i es
businesses o c ea e new capabili y o compe e (Jung & Shegai, 2023). Compe i i eness is also
equi ed so ha he business can su i e and de elop (Ha ammimi & Thaha a, 2022).
MSMEs will ace se e al challenges while ans o ming o digi aliza ion. Resea ch ela ed o his
has mos ly been conduc ed in Eu opean coun ies and se e al Asian coun ies, and esea ch
in de eloping coun ies s ill needs o be published o ill he gap and p o ide p ac ical ecom-
menda ions o implemen a ion o MSMEs whose a eas ha e no been p e iously esea ched
(Sagala & Ő i, 2024). Gene ally, in his ans o ma ion, 70,2 % o MSMEs ha e p oblems in ma ke-
ing hei p oduc s. The ac ha he digi al ans o ma ion o Indonesian MSMEs only eached
13 pe cen in 2020 and is expec ed o each 47 pe cen in 2024, he coun y is s ill ailing behind
o he Asian na ions in his ega d (MSME Empowe men Repo 2022). In addi ion, 50 pe cen o
he p oduc s sold in e-comme ce a e s ill impo ed p oduc s (Masduki, 2022).
Pic 1. Obs acles in Business Ac i i ies (n=1500)
Sou ce: (MSME Empowe men Repo 2022, 2023)
Link: h ps://dailysocial.id/ esea ch/msme- epo -2022
Despi e ha ing a popula ion o o e 273.8 million and a sizable, di e se economy, Indonesia has
long lagged behind o he na ions in e ms o he adop ion o digi al echnology, especially among
MSMEs. Digi aliza ion c ea es oppo uni y o access new ma ke s and gain alue wi h cus ome s
and o he pa ne ships (Joensuu-Salo e al., 2018). MSMEs can ma ke hei goods o se ices o
cus ome s by ha ing an online p esence and eaching a la ge audience and may be able o
compe e be e wi h la ge businesses (Bu hanudin e al., 2022). Finally, digi aliza ion can assis
MSMEs in s eng hening hei sus ainabili y and inancial s abili y (Supa i & An on, 2022).
This s udy uses endogenous g ow h heo y (Sagala & Ő i, 2024). In endogenous g ow h heo y, he
con ex o digi al ma ke ing inno a ion and s a egic o ien a ion o MSMEs is unique esea ch. The
objec o esea ch is ca ied ou in an a ea in a de eloping coun y, which has ne e been e ea-
led, and is expe iencing g ow h because echnological changes and he abundance o knowledge
p oduce economic g ow h. Fo a i m o succeed, ma ke ing is c ucial, bu o MSMEs, i can be
di icul (Sha ma e al., 2017). To compe e wi h la ge , mo e es ablished businesses, addi ional e-
sou ces and assis ance a e equi ed. Fo he su i al and sus ainabili y, s a egic o ien a ions a e
equi ed (Ejo wokeoghene Isia we-Ogba i e al., 2018) because in c owded ma ke s when cus o-
me s ha e a lo o op ions, i can be e y challenging. Smalle businesses may only ha e a limi ed
ARTÍCULOS 4
Wisnu Yuwono; Sel iana Dwi Fi iyan i; Fe dinand Nainggolan
El impac o de la inno ación en ma ke ing digi al y la o ien ación es a égica en el endimien o de las emp esas: Me-
diación po la capacidad de ma ke ing y mode ación po la ges ión del iesgo
N. 39, 2025 – ISSN: 1886-516X – DOI: 10.46661/ e .me odoscuan .econ.emp esa.10841 – [Págs. 1-19]
Re is a de Mé odos Cuan i a i os pa a la Economía y la Emp esa
numbe o esou ces, whe eas la ge businesses may ha e mo e esou ces bu may ind i di icul
o adop new echnologies (Akpan e al., 2021). A company’s capaci y o success ully in eg a e
digi al ma ke ing inno a ions and boos pe o mance can be impac ed by ma ke ing capabili-
y, which includes human and inancial esou ces, echnology, and s a egy (Ta iq e al., 2022).
MSME’s sus ainabili y and esilience a e ulne able o isk, in his addi ion o compe e in ma ke s
and o a ain a s able posi ion, companies can o mula e isk managemen o encou age hei
success (Pulka e al., 2018). Based on gene al su ey in CRMS 2023 (Si ega e .al, 2023), i shows
ha in gene al, mos companies a e qui e conce ned wi h he isk managemen unc ion. Howe-
e , company managemen is expec ed o con inue o implemen isk managemen unc ions in
hei company o o ganiza ion. This esea ch analysing he impac o digi al ma ke ing inno a ion
and s a egic o ien a ion owa ds i m pe o mance wi h ma ke ing capabili y as media ion and
i s e ec on i m pe o mance wi h isk managemen as mode a ion a iable.
Pic 2. Resea ch Model
2. LITERATURE REVIEW
2.1. The Rela ionship be ween Digi al Ma ke ing Inno a ion and Ma ke ing
Capabili y
Digi al ma ke ing is an ac i i y using echnology in ma ke ing p oduc s o se ices (Andhyka e
al., 2023) and cu en ly conside ed as c i ical aspec o business (A iyie e al., 2019). The c ea-
ion o ma ke p oduc s, business p ocesses, o business models as a esul o he applica ion
o digi al echnology is digi al inno a ion (Nambisan e al., 2017). I is becoming e ec i e when
i in ol es inno a ion o businesses o e eal hei imp o ed p oduc s be o e he compe i o s
o he ma ke (Muis e al., 2022) so hey can a ac new cus ome s o nu u e i s compe encies
(Hanaysha e al., 2022). This is posi i ely impac i m pe o mance since i is allowing companies
o each mo e audiences, s eng hen cus ome engagemen , and collec da a o a ge ed ad-
e ising (Jung & Shegai, 2023).
H1: Digi al ma ke ing inno a ion has signi ican e ec on ma ke ing capabili y.
ARTÍCULOS 5
Wisnu Yuwono; Sel iana Dwi Fi iyan i; Fe dinand Nainggolan
El impac o de la inno ación en ma ke ing digi al y la o ien ación es a égica en el endimien o de las emp esas: Me-
diación po la capacidad de ma ke ing y mode ación po la ges ión del iesgo
N. 39, 2025 – ISSN: 1886-516X – DOI: 10.46661/ e .me odoscuan .econ.emp esa.10841 – [Págs. 1-19]
Re is a de Mé odos Cuan i a i os pa a la Economía y la Emp esa
2.2. The Rela ionship be ween S a egic O ien a ion and Ma ke ing Capabili y
S a egic o ien a ion is widely used on he managemen s a egy, en ep eneu ship, and ma -
ke ing (Da man o e al., 2014). The ac i i ies o he way ha businesses engage in in elligence
ga he ing ac i i ies o ga he da a ha may be used o enhance in e nal decision-making and
gain compe i i e ad an age (Adams e al., 2019). As i indica es he abili y o achie e hei goals
(Samad, 2022). As a guiding p inciple, business’ ma ke ing and s a egy is in luenced by s a e-
gic o ien a ion (Theodosiou e al., 2012). This can lead o compe i i e ad an age h ough ma -
ke ing o ien a ion (Go eland e al., 2020).
H2: S a egic o ien a ion has signi ican e ec on ma ke ing capabili y.
2.3. The Rela ionship be ween Digi al Ma ke ing Inno a ion and Fi m
Pe o mance
Wi h inno a ion, businesses may c ea e i ems ha mee he needs o cus ome s which can boos
he quan i y o sales (Alim Musonna a & Djazuli, 2022). I s impac on p oduc quali y and ope a-
ional e ec i eness can a ec compe i i eness and pe o mance imp o emen , pa icula ly o
MSMEs (Fa ida & Se iawan, 2022). Digi al ma ke ing inno a ion will ha e a signi ican impac on i m
pe o mance (Reyes-Gómez e al., 2024)inno a ion and i m pe o mance and o examine he ole
o inno a ion in he ela ionship while a oiding ci cula a gumen s. The uni e salis ic app oach
sugges s ha s a egic o ien a ions ha e independen and pa allel e ec s on i ms’ pe o mance,
and ha inno a ion does no in luence his ela ionship. The holis ic app oach p oposes ha s a-
egic o ien a ions in a complemen a y and in e ela ed iew ha e bo h di ec and indi ec e ec s
on i ms’ pe o mance h ough inno a ion. Design/me hodology/app oach: A me a-analy ic pa h
analysis applying wo-s age s uc u al equa ion modeling (TSSEM. In his e a o digi al, inno a ion
in he o m o digi al ma ke ing will be ex emely bene icial o MSMEs. Wi h low-cos p omo ion, his
will inc ease b and ecogni ion, b and image, sales g ow h (Muis e al., 2022), gain mo e business
con ac s, abili y o exhibi i m expe ise, be e cus ome eedback and sa is ac ion, explo e ma -
ke esea ch, and imp o e he p oduc s and se ices (Qala i e al., 2022).
H3: Digi al ma ke ing inno a ion has signi ican e ec on i m pe o mance.
2.4. The Rela ionship be ween S a egic O ien a ion and Fi m Pe o mance
In o de o suppo a company’s iabili y and pe o mance, s a egic o ien a ion is seen as guiding
p inciple ha in luences he way businesses ope a e h ough a deeply ing ained se o alues
and belie s (Didone e al., 2020). S a egic o ien a ion has a signi ican impac on pe o mance
because i inc eases compe i i e ad an age and c ea es alue o consume s (Reyes-Gómez e
al., 2024)inno a ion and i m pe o mance and o examine he ole o inno a ion in he ela ionship
while a oiding ci cula a gumen s. The uni e salis ic app oach sugges s ha s a egic o ien a-
ions ha e independen and pa allel e ec s on i ms’ pe o mance, and ha inno a ion does no
in luence his ela ionship. The holis ic app oach p oposes ha s a egic o ien a ions in a comple-
men a y and in e ela ed iew ha e bo h di ec and indi ec e ec s on i ms’ pe o mance h ough
inno a ion. Design/me hodology/app oach: A me a-analy ic pa h analysis applying wo-s age
s uc u al equa ion modeling (TSSEM. I is used by a company o ins ill he igh beha iou s o he
con inuing, supe io ope a ion o he en e p ise. In hese condi ions, s a egic o ien a ions can be
cha ac e ized as he alues ha guide and a ec he company’s ope a ions and p oduce he be-
ha iou s ha a e c ucial o he success o he company (Aca & Ozs, 2018), and i is an impo an
capabili y ha can imp o e i m pe o mance (Ade ulu e al., 2022).
H4. S a egic o ien a ion has signi ican e ec on i m pe o mance.
ARTÍCULOS 6
Wisnu Yuwono; Sel iana Dwi Fi iyan i; Fe dinand Nainggolan
El impac o de la inno ación en ma ke ing digi al y la o ien ación es a égica en el endimien o de las emp esas: Me-
diación po la capacidad de ma ke ing y mode ación po la ges ión del iesgo
N. 39, 2025 – ISSN: 1886-516X – DOI: 10.46661/ e .me odoscuan .econ.emp esa.10841 – [Págs. 1-19]
Re is a de Mé odos Cuan i a i os pa a la Economía y la Emp esa
2.5. The Rela ionship be ween Ma ke ing Capabili y and Fi m Pe o mance
Ma ke ing capabili y is c ucial o business su i al (Da cik e al., 2020) as i is a d i e o i m pe o -
mance (Jeong e al., 2019) wi h he abili y o design and implemen e ec i e ma ke ing s a egies
and echniques o p omo e i s p oduc s o se ices which can lead o build b and awa eness and
inc ease p o i abili y. To ensu e he su i al and g ow h o businesses, ma ke ing is a c i ical com-
ponen (Reka i e al., 2018) o achie e compe i i e ad an age (Hombu g & Wielgos, 2022) and no-
iceably a ec s on pe o mance in SMEs (Ej ami e al., 2016) as i ms wi h supe io ma ke ing capa-
bili ies expand as e which is an impo an ac o o p o i g ow h a es (Joensuu-Salo e al., 2023).
H5: Ma ke ing capabili y has signi ican e ec on i m pe o mance.
2.6. The Rela ionship be ween Ma ke ing Capabili y and Fi m Pe o mance
wi h Risk Managemen as Mode a ing Va iable.
Ma ke ing compe ence is c ucial o o ganiza ions o all sizes and indus ies because i allows
hem o each and engage wi h hei a ge cus ome s, di e en ia e hemsel es om compe-
i o s, and d i e sales and e enue g ow h. A s ong ma ke ing compe ence can also assis a
business in adap ing o changing ma ke and cus ome needs, s aying ahead o ends, and in-
no a ing new p oduc s o se ices (Jung & Shegai, 2023). Risk is seen as an essen ial componen
o a company’s ope a ions. Financial isk is one o he mos se ious p oblem o SMEs. The mos
ypical signs o SME inancial isk a e di icul ies in business inancing because he majo i y o he
company’s ope a ion is suppo ed by he owne s o manage s hemsel es. This could lead o an
inc ease in ope a ional cos s and deb as well as deb epaymen issues (D o sky e al., 2021).
Risk managemen imp o es i m pe o mance Candy, 2021), and he company has policies o
good inancial managemen and sha eholde con idence (Ka ina e al., 2023). In o de o mini-
mize isks o imp o e he i m’s pe o mance, manage can o mula e di e en s a egies. This
p ocess o cope wi h isks is de ined as isk managemen (Rehman & Anwa , 2019).
H6: Ma ke ing capabili y wi h isk managemen as mode a ing a iable has signi i-
can e ec on i m pe o mance.
2.7. The Rela ionship be ween Digi al Ma ke ing Inno a ion and S a egic O ien a ion
on Fi m Pe o mance wi h Ma ke ing Capabili y as Media ing Va iable
As a condui o dis ibu ing elec onic wo d-o -mou h abou a p oduc , b and, o company, social
media ma ke ing is used. he use o social media pla o ms o spa k dialogue and a ou ably a ec
cus ome beha iou , such as p oduc pu chases, newsle e subsc ip ions, online communi y egis-
a ion, and o he consume beha iou s (Ta sakoo & Cha oensukmongkol, 2020) in speci ic social
media pla o ms by age, sex, egion, p e e ences, e c (Bas i, 2016). Such inno a ion is ega ded as a
i al componen by o ganiza ions seeking o gi e supe io alue p oposi ions o ma ke s; as a esul ,
hese i ms endea ou o unde s and cus ome s h ough ob aining ma ke in elligence in o de o
an icipa e changes in cus ome s’ wan s and beha iou s (Thoum ung oje & Racela, 2022). Howe e ,
he usage o online social media has a g ea e impac on i m pe o mance (Taj idi & Ka ami, 2021).
Mos businesses s i e o long- e m compe i i e ad an age and good pe o mance. Fi m pe -
o mance is exhibi ed based on he i m’s business objec i e, goal, and s a egy. The wo d i m
pe o mance e e s o he le el o achie emen ha a company ypically achie es. The wo d
i m pe o mance e e s o he achie emen o ma ke and inancial objec i es (Samad, 2022).
Al hough pe o mance is he co e o all o ganiza ional p ocesses and ac i i ies and is wha de-
ines an o ganiza ion’s su i al, i is a ela i e concep o ph ase ha is used in di e en con ex s
o explain how ac ions achie e hei goals (Sawaean & Ali, 2020).
H7. Digi al ma ke ing inno a ion wi h ma ke ing capabili y as media ing a iable
has signi ican e ec on i m pe o mance.
H8: S a egic o ien a ion wi h ma ke ing capabili y as media ing a iable has signi-
ican e ec on i m pe o mance.
ARTÍCULOS 7
Wisnu Yuwono; Sel iana Dwi Fi iyan i; Fe dinand Nainggolan
El impac o de la inno ación en ma ke ing digi al y la o ien ación es a égica en el endimien o de las emp esas: Me-
diación po la capacidad de ma ke ing y mode ación po la ges ión del iesgo
N. 39, 2025 – ISSN: 1886-516X – DOI: 10.46661/ e .me odoscuan .econ.emp esa.10841 – [Págs. 1-19]
Re is a de Mé odos Cuan i a i os pa a la Economía y la Emp esa
3. METHODOLOGY
The ocus o his s udy is o explain he cause-and-e ec ela ionship o independen a iables,
including digi al ma ke ing inno a ion and s a egic o ien a ion, on he dependen a iable, na-
mely i m pe o mance, con eyed h ough he media ion o ma ke ing capabili y and mode a-
ion o isk managemen . The popula ion in his s udy is ood and be e age MSMEs in Tanjung Pi-
nang Ci y, he capi al ci y o he Riau Islands P o ince o Indonesia coun y. The numbe o hese
businesses is es ima ed o be mo e han 5,000 uni s, because he da a on he numbe o small
businesses alone o ood and non- ood based on Indonesia S a is ics 2020 da a is 4,080 busi-
ness uni s, no including mic o and medium businesses. Sampling echnique is used o collec
da a and i does no andomly selec samples bu in en ionally chooses hem based on speci-
ied c i e ia/pu posi e sampling (Buelens e al., 2018) which we e: 1) MSMEs ope a ed in ood and
be e age, 2) been ope a ing in minimun 1 yea , and 3) loca ed in Tanjungpinang a ea. Wi h o al
o 20 ques ions, his esea ch is using (Hai J e al., 2021) heo y o 1:10 whe e each indica o will
be ep esen ed by 10 esponden s.
A o al o 20 ques ions co e ing aspec s o Digi al Ma ke ing Inno a ion consis ing o 3 ques ions
(Sudja moko e al., 2023), S a egic O ien a ion wi h 4 ques ions (Tseng e al., 2019), Ma ke ing
Capabili y consis ing o 3 ques ions (Jeong e al., 2019), Fi m Pe o mance wi h 4 ques ions (Di-
done e al., 2020), and Risk Managemen consis ing o 6 ques ions (Rehman & Anwa , 2019),
a e dis ibu ed h ough Google Fo m o indi iduals owning he business o ood and be e a-
ge in Tanjungpinang. Pa icipan s’s esponses a e measu ed using a Like scale o 1-5, whe e 1
indica es “s ongly disag ee” and 5 indica es “s ongly ag ee” (Fa ida & Se iawan, 2022). Da a
es ing is conduc ed using he Sma -PLS e sion 3. In his s udy, he esea che s examine he
ela ionships among digi al ma ke ing inno a ion, s a egic o ien a ion, and i m pe o mance
wi h ma ke ing capabili y as media ing a iable and isk managemen as mode a ing a iable
h ough desc ip i e s a is ical analysis, alidi y es , eliabili y es , hypo hesis es , model i e a-
lua ion, and R Squa e es .
4. RESULT AND DISCUSSION
4.1. Demog aphic o Responden s
The e a e 279 samples o he owne s o ood and be e age business in Tanjungpinang. The
majo i y a e emale, 56 % o he 279 esponden s. The age dis ibu ion o he su ey pa icipan s
is 35 % be ween 17-27 yea s (97 pa icipan s), 29 % be ween 28-38 yea s (82 pa icipan s), 22 %
be ween 39-50 yea s (61 pa icipan s), and 14 % mo e han 50 yea s (39 pa icipan s). In e ms
o business pe iod, 48 % ha e been ope a ing o 3 – 4.9 yea s, 34 % ha e been ope a ing o
5 – 9.9 yea s, and 18 % ha e been ope a ing o mo e han 10 yea s. The majo i y o businesses
ha e less han 3 employess wi h pe cen age o 48 %, 3 – 5 employees wi h pe cen age o 28 %,
and mo e han 5 employees wi h pe cen age o 13 %. And las ly, 69 % ha e income less han Rp.
25.000.000, 24 % ha e income be ween Rp. 25.000.000 – Rp. 50.000.000, and 18 % ha e income
mo e han Rp. 50.000.000.
ARTÍCULOS 8
Wisnu Yuwono; Sel iana Dwi Fi iyan i; Fe dinand Nainggolan
El impac o de la inno ación en ma ke ing digi al y la o ien ación es a égica en el endimien o de las emp esas: Me-
diación po la capacidad de ma ke ing y mode ación po la ges ión del iesgo
N. 39, 2025 – ISSN: 1886-516X – DOI: 10.46661/ e .me odoscuan .econ.emp esa.10841 – [Págs. 1-19]
Re is a de Mé odos Cuan i a i os pa a la Economía y la Emp esa
Table 1. Demogh apic Responden s
Va iable Ca ego y F equency Pe cen age
Gende Male 124 44 %
Female 155 56 %
Age
17 - 27 yea s 97 35 %
28 - 38 yea s 82 29 %
39 - 50 yea s 61 22 %
Mo e han 50 yea s 39 14 %
Business Pe iod
3 – 4.9 yea s 134 48 %
5 – 9.9 yea s 96 34 %
Mo e han 10 yea s 49 18 %
To al o Employees
< 3 pe sons 164 59 %
3 – 5 pe sons 78 28 %
Mo e han 5 pe sons 37 13 %
< Rp. 25.000.000 192 69 %
To al Income Rp. 25.000.000 – Rp. 50.000.000 67 24 %
Mo e han Rp. 50.000.000 20 7 %
Sou ce: Resea ch Finding
4.2. Validi y Tes Resul
4.2.1 Ou e Loading
This es is conduc ed o assess whe he he esea ch model is sui able o he gi en ques ions
o s a emen s. A ques ion/s a emen is conside ed alid i i has an ou e loading alue g ea e
han 0.7 bu Ghozali s a ed in (A i ian i e al., 2023) ha i s ill can be ole a ed o 0.5. Based on
Table 2, i can be seen ha all ques ions ha e ou e loading alues > 0.6 and one wi h > 0.5, so all
ques ions/s a emen s below a e decla ed alid.
Table 2. Ou e Loading Tes Resul s
Va iable Ou e Loading
DMI1 <- Digi al Ma ke ing Inno a ion 0.850
DMI2 <- Digi al Ma ke ing Inno a ion 0.860
DMI3 <- Digi al Ma ke ing Inno a ion 0.847
SO1 <- S a egic O ien a ion 0.799
ARTÍCULOS 15
Wisnu Yuwono; Sel iana Dwi Fi iyan i; Fe dinand Nainggolan
El impac o de la inno ación en ma ke ing digi al y la o ien ación es a égica en el endimien o de las emp esas: Me-
diación po la capacidad de ma ke ing y mode ación po la ges ión del iesgo
N. 39, 2025 – ISSN: 1886-516X – DOI: 10.46661/ e .me odoscuan .econ.emp esa.10841 – [Págs. 1-19]
Re is a de Mé odos Cuan i a i os pa a la Economía y la Emp esa
(y-on-y) om June 2023-June 2024, abo e in la ion o 2.97 %. This ce ainly pu s hea y p essu e on
MSMEs in inc easing company p o i s. On his occasion, he esea che ies o o e a isk mana-
gemen amewo k ha is conside ed e ec i e and s uc u ed ega ding he igh isk ea men .
This isk ea men con ains ac ions a e a isk esponse in aligning he ex en o which his isk
can be accep ed by he company, so ha inancial pe o mance emains he main goal. The las
ecommenda ion is o imp o e he adminis a ion o inancial epo s acco ding o s anda ds, his
aims o e alua e i s inancial pe o mance be e so ha i can a oid losses.
7. CONCLUSION
Based on he esul s o he analysis and discussion, i was concluded ha : 1) digi al ma ke ing
inno a ion has a signi ican e ec on ma ke ing capabili y, 2) digi al ma ke ing inno a ion has a
signi ican e ec on i m pe o mance, 3) digi al ma ke ing inno a ion has a signi ican e ec on
i m pe o mance, 4) s a egic o ien a ion has signi ican e ec on i m pe o mance., 5) ma -
ke ing capabili y has no signi ican e ec on i m pe o mance., 6) ma ke ing capabili y wi h isk
managemen as mode a ing a iable has no signi ican e ec on i m pe o mance., 7) digi al
ma ke ing inno a ion wi h ma ke ing capabili y as media ing a iable has no signi ican e ec
on i m pe o mance., 8) s a egic o ien a ion wi h ma ke ing capabili y as media ing a iable
has no signi ican e ec on i m pe o mance.
This esea ch is p ac ically use ul in p o iding ecommenda ions, especially in managing s a e-
gies o MSME ac i i ies ela ed o cu en de elopmen s which canno be sepa a ed om in e ne .
Digi al ma ke ing inno a ion and s a egic o ien a ion a e manda o y o MSME playe s o expand
hei ma ke sha e and ob ain app op ia e p o i s. Howe e , MSMEs mus also be ca e ul in using
hei unds o inc ease ma ke ing capaci y because excessi e use o unds and wi hou in-dep h
analysis will esul in dec easing o i m pe o mance. In his esea ch, i is also ecommended ha
MSMEs migh s a o implemen isk managemen p inciples and policies, because no all MSMEs
ha e implemen ed i , e en hough a a basic le el, he exis ence o his isk policy could be one
solu ion in con olling inances o achie e be e i m pe o mance and sus ainable.
This esea ch has limi a ions because wha is being obse ed is s ill wi hin he scope o MSMEs
in he ood and be e age sec o , in he u u e esea ch, i is possible o ca y ou on o he MSME
businesses beyond ood and be e age, such as manu ac u ing, and wi h a quali a i e app oach
o ob ain a mo e in-dep h analysis. Cu en ly, in he e a o big da a echnology and AI, skill and
knowledge, IT-aligmen , and his ela ed opic could be in e es ing esea ch in he u u e.
ACKNOWLEDGMENTS
This esea ch was unded by a Lec u e Resea ch G an om Uni e si as In e nasional Ba am
wi h Con ac Numbe o : 006/LPPM/KP-UIB/X/2024.
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Wisnu Yuwono; Sel iana Dwi Fi iyan i; Fe dinand Nainggolan
El impac o de la inno ación en ma ke ing digi al y la o ien ación es a égica en el endimien o de las emp esas: Me-
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ARTÍCULOS 18
Wisnu Yuwono; Sel iana Dwi Fi iyan i; Fe dinand Nainggolan
El impac o de la inno ación en ma ke ing digi al y la o ien ación es a égica en el endimien o de las emp esas: Me-
diación po la capacidad de ma ke ing y mode ación po la ges ión del iesgo
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ARTÍCULOS 19
Wisnu Yuwono; Sel iana Dwi Fi iyan i; Fe dinand Nainggolan
El impac o de la inno ación en ma ke ing digi al y la o ien ación es a égica en el endimien o de las emp esas: Me-
diación po la capacidad de ma ke ing y mode ación po la ges ión del iesgo
N. 39, 2025 – ISSN: 1886-516X – DOI: 10.46661/ e .me odoscuan .econ.emp esa.10841 – [Págs. 1-19]
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