Objectives: This study investigates how resource leverage and value creation interact to influence the overall performance of SMEs within an entrepreneurial marketing framework. It addresses the gap in understanding whether leveraging limited resources translates into performance gains when mediated by value creation.
Methodology: A quantitative research design was employed, utilizing a structured questionnaire distributed to 140 SME owners and managers. Data from these respondents were analyzed using Partial Least Squares–Structural Equation Modeling (PLS-SEM) to test the measurement and structural models linking resource leverage, value creation, and performance.
Findings: The results show that resource leverage has a significant direct effect on SME performance (β = 0.333, p = 0.000). Additionally, resource leverage strongly influences value creation (β = 0.604, p = 0.000), which in turn has a substantial effect on SME performance (β = 0.527, p = 0.000). The mediation analysis confirms that value creation significantly mediates the relationship between resource leverage and SME performance (β = 0.319, p = 0.000), indicating that firms that effectively transform financial, human, and social resources into customer-oriented value offerings achieve superior outcomes—such as higher financial returns, customer loyalty, and market differentiation.
Conclusion: This study confirms the importance of value creation in maximizing the impact of resource leverage. It contributes to entrepreneurial marketing and resource-based view literature by highlighting the strategic role of co-creation, innovation, and market responsiveness in enhancing SME performance, particularly in resource-constrained environments.

Alam, A., Asdar, M., Munizu, M., & Mappanyompa, A. (2023). The importance of social media in improving SMEs performance., 124-131. https://doi.org/10.2991/978-94-6463-146-3_13

Ali, E., Liu, J., Faiz, A., Siraj, A., & Rasheed, M. (2022). Exploring the nexus between supply chain integration, integrative value-creation, and firm’s performance: Mediating roles of entrepreneurial self-efficacy and innovation capability. International Journal of Management Research and Emerging Sciences, 12(2). https://doi.org/10.56536/ijmres.v12i2.211

Anoke, F., Ngozi, N., Uchechukwu, E., & Joyce, I. (2022). Entrepreneurial marketing and SMEs growth in post COVID-19 era in Awka, Anambra State, Nigeria. International Journal of Financial Accounting and Management, 4(2), 115–127. https://doi.org/10.35912/ijfam.v4i2.833

Barney, J. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99–120.

Batra, S., Sharma, S., Dixit, M., & Vohra, N. (2015). Strategic orientations and innovation in resource-constrained smes of an emerging economy. The Journal of Entrepreneurship, 24(1), 17-36. https://doi.org/10.1177/0971355714560052

Brege, H. and Kindström, D. (2020). Proactivity and responsiveness in value creation: a conceptual typology of market strategies. Journal of Business and Industrial Marketing, 36(1), 72-85. https://doi.org/10.1108/jbim-11-2019-0479

Buli, B. (2017). Entrepreneurial orientation, market orientation and performance of SMEs in the manufacturing industry. Management Research Review, 40(3), 292–309. https://doi.org/10.1108/mrr-07-2016-0173

Chen, Y. (2024). The innovative entrepreneurial marketing journey and sustainable development of Southeast Asian immigrants. Sustainability, 16(7), 2815. https://doi.org/10.3390/su16072815

Crick, J., Karami, M., & Crick, D. (2021). The impact of the interaction between an entrepreneurial marketing orientation and coopetition on business performance. International Journal of Entrepreneurial Behaviour & Research, 27(6), 1423–1447. https://doi.org/10.1108/ijebr-12-2020-0871

Diantoro, A. K., Ikhsan, F., Kusmantini, T., & Janah, A. W. (2023). How Entrepreneurship Orientation Influences the Performance of New Product Development in the SME in Bantul? Mix: Jurnal Ilmiah Manajemen, 13(2), 454. https://doi.org/10.22441//jurnal_mix.2023.v13i1.013

Etuk, S., Udoh, N., & Usani, N. (2024). Entrepreneurial marketing and performance of small and medium scale enterprises in Akwa Ibom State. International Journal of Entrepreneurship Business and Creative Economy, 4(2), 170–185. https://doi.org/10.31098/ijebce.v4i2.2137

Feng, D., Lu, C., & Jiang, S. (2022). An iterative design method from products to product service systems—combining acceptability and sustainability for manufacturing SMEs. Sustainability, 14(2), 722. https://doi.org/10.3390/su14020722

Ferreira, C., Ferguson, S., & Pitt, L. (2019). Entrepreneurial marketing and hybrid entrepreneurship: The case of JM Reid bamboo rods. Journal of Marketing Management, 35(9-10), 867–885. https://doi.org/10.1080/0267257x.2019.1637921

Fitriany, F., Halim, S., Rahman, M., & Suwandaru, R. (2023). Analysis of the influence of entrepreneurial and networking competitive advantage on business performance with use of digital marketing as a moderating on agricultural SME’s in Makassar City. Jurnal Penelitian Pendidikan IPA, 9(Special Issue), 893–900. https://doi.org/10.29303/jppipa.v9ispecialissue.6342

Fitriasari, F. (2020). How do small and medium enterprise (SME) survive the covid-19 outbreak?. Jurnal Inovasi Ekonomi, 5(02). https://doi.org/10.22219/jiko.v5i3.11838

Flaminiano, J. (2024). Entrepreneurial bricolage: A key to innovation for SMEs in a developing economy. Small Business International Review, 8(1), e645. https://doi.org/10.26784/sbir.v8i1.645

Gala, P., & Kashmiri, S. (2022). Exploring the dark side of integrity: Impact of CEO integrity on firms’ innovativeness, risk-taking and proactiveness. European Journal of Marketing, 56(7), 2052–2102. https://doi.org/10.1108/ejm-02-2021-0095

Gontur, S., Goyit, M., & Vem, L. (2022). Impact of entrepreneurial marketing dimensions on competitive advantage of small and medium-scale enterprises in Plateau State, North Central Nigeria. Journal of Production Operations Management and Economics, (31), 1–12. https://doi.org/10.55529/jpome.31.1.12

Gruber-Mücke, T., & Hofer, K. (2015). Market orientation, entrepreneurial orientation and performance in emerging markets. International Journal of Emerging Markets, 10(3), 560–571. https://doi.org/10.1108/ijoem-05-2013-0076

Hacini, I., Mohammedi, K., & Dahou, K. (2022). Determinants of the capital structure of small and medium enterprises: empirical evidence in the public works and hydraulics sector from algeria. Small Business International Review, 6(1), e408. https://doi.org/10.26784/sbir.v6i1.408

Hadiyati, E., & Hendrasto, F. (2021). Entrepreneurial marketing strategy of micro, small and medium enterprises in pandemic COVID-19 era. International Journal of Economics and Business Administration, IX(2), 178–191. https://doi.org/10.35808/ijeba/696

Hair Jr, J. F., Matthews, L. M., Matthews, R. L., & Sarstedt, M. (2017). PLS-SEM or CB-SEM: updated guidelines on which method to use. International Journal of Multivariate Data Analysis, 1(2), 107-123.

Haque, A. (2023). The impact of the COVID-19 pandemic on employee motivation and organisational resilience and the role of strategic HRM: Renewal of a resource-based conceptual model. Management Matters, 20(2), 117-133. https://doi.org/10.1108/manm-02-2022-0022

Illandarage, D., & Kodituwakku, S. (2024). Award-winning women business operators in Kandy district of Sri Lanka: Entrepreneurial bricolage. Journal of Entrepreneurship and Business, 12(1), 1–17. https://doi.org/10.17687/jeb.v12i1.1065

Jain, P., Vyas, V., & Roy, A. (2017). Exploring the mediating role of intellectual capital and competitive advantage on the relation between CSR and financial performance in SMEs. Social Responsibility Journal, 13(1), 1-23. https://doi.org/10.1108/srj-04-2015-0048

Kock, N. (2015). Common method bias in PLS-SEM: A full collinearity assessment approach. International Journal of e-Collaboration (ijec), 11(4), 1-10.

Koeswandi, T., Gaffar, V., Wibowo, L., & Primaskara, E. (2024). Do entrepreneurial marketing strategies lead to better marketing performance on smes?. Image Jurnal Riset Manajemen, 12(1), 82-90. https://doi.org/10.17509/image.2024.007

Liu, Y., Marrewijk, A., Houwing, E., & Hertogh, M. (2019). The co-creation of values-in-use at the front end of infrastructure development programs. International Journal of Project Management, 37(5), 684-695. https://doi.org/10.1016/j.ijproman.2019.01.013

Maharani, I., Alfina, A., Destari, F., Mujahidin, A., Hiqmah, F., & Usman, I. (2024). Three-way interaction effect of entrepreneurial orientation, CEO power, and organizational slack on Indonesian firms’ performance. Problems and Perspectives in Management, 22(2), 271–285. https://doi.org/10.21511/ppm.22(2).2024.21

Maziriri, E., & Mapuranga, M. (2018). Modeling the nexus between entrepreneurial marketing dimensions and business growth among small and medium agro-processing enterprises in Zimbabwe. Journal of Agribusiness and Rural Development, 48(2), 153–163. https://doi.org/10.17306/j.jard.2018.00407

Morris, M. H., Schindehutte, M., & LaForge, R. W. (2002). Entrepreneurial marketing: A construct for integrating emerging entrepreneurship and marketing perspectives. Journal of Marketing Theory and Practice, 10(4), 1–19.

Mukhtar, M., Nasreen, F., & Khalid, W. (2023). Dynamic capabilities and firm performance: Moderating effect of environmental dynamism. BBE, 12(4), 597-601. https://doi.org/10.61506/01.00180

Novari, E. (2020). The impact of market orientation to SMEs performance with mediation of creation value. Mimbar Jurnal Sosial dan Pembangunan, 36(2). https://doi.org/10.29313/mimbar.v36i2.5987

Oduro, S. and Mensah-Williams, E. (2023). Marketing capabilities and competitive performance in the smes context: a bi-theoretical perspective. Journal of Small Business Strategy, 33(2). https://doi.org/10.53703/001c.77458

Purnamasari, M., Hermawan, A., & Junaedi, J. (2024). Unveiling the synergy: How entrepreneurial marketing and product quality drive purchase decisions through the lens of digital marketing. Eco-Buss, 6(3), 1423-1434. https://doi.org/10.32877/eb.v6i3.1181

Rashad, N. (2018). The impact of entrepreneurial marketing dimensions on the organizational performance within Saudi SMEs. Eurasian Journal of Business and Management, 6(3), 61–71. https://doi.org/10.15604/ejbm.2018.06.03.007

Sarwoko, E., Sri, L., & Sedyastuti, K. (2023). Entrepreneurial orientation, market orientation, and SMEs performance: The moderating role of entrepreneurial strategy. QAS, 24(195). https://doi.org/10.47750/qas/24.195.29

Sefnedi, S., Utami, W., & Fernanda, B. (2023). The mediating effect of strategic competitive advantage on the relationship between entrepreneurial orientation and marketing performance. KNE Social Sciences. https://doi.org/10.18502/kss.v8i13.13762

Setiyaningrum, A., & Ramawati, Y. (2020). Peran dimensi-dimensi entrepreneurial marketing dalam mendorong kesuksesan bisnis UMKM di industri ekonomi kreatif. Jurnal Ekonomi Bisnis dan Kewirausahaan, 9(2), 125. https://doi.org/10.26418/jebik.v9i2.39818

Shiratina, A., Ramli, Y., Imaningsih, E., Rajak, A., & Ali, A. (2023). The role of entrepreneurial marketing and relationship marketing that strengthen the women entrepreneurs' business performance. Indonesian Journal of Business and Entrepreneurship. https://doi.org/10.17358/ijbe.9.2.169

Shuremo, G., Illés, C., & Dunay, A. (2021). The effect of entrepreneurial marketing on the performance of small and medium-sized enterprises. SHS Web of Conferences, 90, 01018. https://doi.org/10.1051/shsconf/20219001018

Teofilus, T., Singh, S. K., Sutrisno, T. F., & Kurniawan, A. (2020). Analyzing Entrepreneurial Marketing on Innovative Performance. Mix Jurnal Ilmiah Manajemen, 10(1), 78. https://doi.org/10.22441/mix.2020.v10i1.006

Vargo, S. and Lusch, R. (2015). Institutions and axioms: an extension and update of service-dominant logic. Journal of the Academy of Marketing Science, 44(1), 5-23. https://doi.org/10.1007/s11747-015-0456-3

Vrontis, D., Chaudhuri, R., & Chatterjee, S. (2022). Adoption of digital technologies by SMEs for sustainability and value creation: Moderating role of entrepreneurial orientation. Sustainability, 14(13), 7949. https://doi.org/10.3390/su14137949

Yang, M., Gabrielsson, P., & Andersson, S. (2023). Entrepreneurs’ social ties and international digital entrepreneurial marketing in small and medium-sized enterprise internationalization. Journal of International Marketing, 31(4), 1-22. https://doi.org/10.1177/1069031x231178220

Yuza, G., Syafrizal, S., & Yeni, Y. (2023). The effect of entrepreneurial orientation and market orientation on competitive advantage at culinary SMEs in West Sumatera. Jurnal Informatika Ekonomi Bisnis, 968–971. https://doi.org/10.37034/infeb.v5i3.702

Zahara, Z., Muslimin, M., & N, C. (2023). The effect of institutional environment toward entrepreneurial marketing and its impact on culinary SMEs' performance. Jurnal Aplikasi Manajemen, 21(4). https://doi.org/10.21776/ub.jam.2023.021.04.11

Zeng, J., & Khan, Z. (2019). Value creation through big data in emerging economies. Management Decision, 57(8), 1818–1838. https://doi.org/10.1108/md-05-2018-0572

Zhou, W., Li, S., & Meng, X. (2022). Study on the effect of customer psychological ownership on value co-creation under service ecosystem. Sustainability, 14(5), 2660. https://doi.org/10.3390/su14052660

Zhuo, J., Su, R., Yang, H., & Hsu, M. (2022). Antecedents and consequences of brand experience in virtual sports brand communities: a value co-creation perspective. Frontiers in Psychology, 13. https://doi.org/10.3389/fpsyg.2022.1033439