The development of strategies for success in the home building business of members of Thai Home Builders Association (THBA)

Abstract

The objectives of this study were: (1) to explore and understand the internal and external environments of the home-building business among members of the Thai Home Builders Association (THBA), (2) to analyze competitive pressures in the industry, (3) to explain the critical success factors, and (4) to synthesize and propose strategies for business success. This research employed a qualitative approach using in-depth interviews with 40 key informants, including entrepreneurs, experts, and stakeholders in the home-building sector. A semi-structured interview guide was used as the research instrument. Data were recorded, transcribed, and analyzed using content analysis and thematic analysis.

The findings revealed that: (1) long-established home-building businesses gain stronger recognition, image, and credibility than general contractors. They provide one-stop services and offer homeowners more freedom in design and material selection, although standards vary and prices are 10–20% higher than general contractors. (2) Competitive pressures arise from customers’ bargaining power, suppliers’ influence, new entrants from related industries, and strong rivalry with numerous general contractors, while substitute products have minimal impact. (3) The critical success factors include time, financial resources, operational effectiveness, and client satisfaction. (4) The strategic directions for success consist of pricing strategy, building image and industry standards under THBA, offering unique design, providing one-stop services, and expanding service coverage.