Strategies for Creating Competitive Advantage in the Real Estate Business within the Special Economic Zones of Chiang Rai Province

Abstract

This study examines investment conditions and strategies for establishing a competitive advantage in the real estate sector within the Chiang Rai Special Economic Zone. It aims to evaluate the suitability of these strategies, given the zone's strategic location as a gateway connecting Northern Thailand with Myanmar, Laos, and China. the target area comprises three districts: Mae Sai, Chiang Saen, and Chiang Khong. Currently, businesses in this region are grappling with the impact of an economic slowdown and the COVID-19 crisis. Consequently, real estate businesses must adapt to survive, necessitating key strategies to address these challenges and boost sales.

An analysis of the documents reveals two strategies for establishing a competitive advantage in the real estate business within the Chiang Rai Special Economic Zone. The first is an adaptation strategy, wherein operators should formulate long-term business plans. The second is a strategy of adjusting approaches to align with changing circumstances. Both strategies encompass four key aspects: 1) Product: developing goods and services that align with consumer needs; 2) Price: reducing business operating costs to maintain cash flow; 3) Distribution Channels: implementing both direct sales and intermediary/agent-based sales; and 4) Image: enhancing the service image to ensure consumers remember the business name.