Abstract:
Small and medium-sized enterprises (SMEs) are essential to most economies in
emerging nations. The economy of Sri Lanka is mainly composed of small and medium
sized firms. Small and medium-sized enterprises face strong competition from both
domestic and foreign companies. To survive in the cutthroat market, they must
simultaneously innovate every system. SME's must urgently build adequate and proper
marketing competencies in order to meet the challenges. This study investigates the
elements of competency marketing for Sri Lanka's SME sector. For the purpose of this
investigation, a mixed technique is used. The study's target audience is the SMEs in
Northern Province. Initially, utilizing snow ball sampling, 25 SMEs were chosen for this
research project. In depth discussions were conducted with the interviewees. The
competencies of SMEs were determined using thematic analysis. Using thematic
analysis, nineteen factors were found, and they were divided into six dimensions:
knowledge itself, accumulated knowledge, communication competency, judgmental
competence, joint innovation competence, and absorption competence. The
questionnaire was created using the quantitative approach to discover the dimensions of
competency marketing. Out of 450 questionnaires, 436 were returned. The result of the
study revealed four dimensions of loading structures of competence marketing, viz
experiential knowledge, joint innovation competence, absorption competence and
judgmental competence. When it comes to SMEs' marketing competencies, experiential
knowledge competence has a significant impact whereas judging knowledge
competence has a low impact. SME owners need to consider accomplishments,
capabilities, interactions, two-way communications, and qualifications. The focus of
joint innovation competence should be on innovative products and production
processes. Adopting a new technology would be better for all SMEs in this current
technological era. The constantly shifting business environment will force the company
to put more emphasis on judgmental capability.
