Social Marketing Approach to Democratizing Microfinance Services

This study discusses the role of microfinance institutions (MFIs), which offer group lending and relationship-based financial services contextual to inclusivity-led leadership models. The findings of the study explain important managerial implications and provide innovation-led strategic approach aimed at fostering the assimilation of social marketing among the MFIs. This study was conducted in the semi-urban area of metropolitan region of Mexico City by administering a semi-structured research instrument to 1215 respondents via google forms during the post-pandemic economic recovery period. This research is supported by the social learning theory and self-awareness theory. The three domains comprising stakeholder outreach, financial services, and organizational performance with 12 variables affect the performance of microfinance institutions as stated across the hypotheses derived in this study. The results of the study indicate that social consciousness can be fostered through crowd cognition and collective intelligence on ethical appropriation of financial services rendered by the MFIs.