COST ANALYSIS AND MARKETING STRATEGY PLANNING FOR PALMYRA PALM FURNITURE PRODUCTS
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Abstract
This study aimed 1) To analyze the costs and returns on investment (ROI) of furniture made from palmyra palm furniture and 2) Analysis of the appropriate marketing mix and the comparison of demographic factors for marketing strategy planning. A mixed-method research design was employed. The population was divided into two groups. Group 1, focusing on cost and return analysis, comprised 32 Palmyra palm furniture producers in Songkhla Province, selected purposively. Data were collected using a structured interview with a reliability coefficient of 0.92 and analyzed using ROI and gross profit margin (GPM). Group 2, which examined marketing mix, consisted of 400 consumers of furniture products, selected through a multi-stage sampling process. Data were collected using a questionnaire with a reliability coefficient of 0.81, and analyzed with mean, percentage, standard deviation, t-test, and one-way ANOVA at the 0.05 significance level. The results revealed that Tal Tod palm furniture generated a total annual revenue of 366,400 THB, with total costs of 242,717.40 THB and net income of 123,682.60 THB, which yielded an ROI of 50.96% and a GPM of 33.76%. The primary target consumers were working-age buyers with medium to high income, who placed a strong emphasis on product quality, aesthetic appeal, safety, and environmental friendliness. Among the marketing-mix factors, promotion exerted the highest influence (mean = 4.55), followed by distribution channels, product, and price, respectively. No statistically significant differences (p < 0.05) were found in marketing strategy planning when analyzed across respondents' demographic characteristics.
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