Strategic Development Guideline for Success as a Market Leader in Medical Protein Supplement in Thailand
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Abstract
The research article consisted of the following objectives: 1) to investigate consumer behavior and value proposition components influencing marketing strategies in medical protein supplements in Thailand; 2) to explore the strategic development guidelines as a market leader of medical protein supplements in Thailand; and 3) to examine the success of the strategies as a market leader for medical protein supplements in Thailand. The researcher used the survey research method by collecting data with 1 corporate executive, 1 scholar, and 8 consumers through in-depth interviews to identify the important components. Qualitative data were collected with 21 key informants through in-depth interviews.
From the study, the following results were found: 1) Based on survey research and in-depth interviews with key informants, they agree that the 7Ps marketing strategy is the most appropriate for the business. In terms of the value propositions that influence customers' buying decisions, all key informants agree that products, distribution channels, customer service and brand promotion are the most important; 2) According to the strategic development guidelines for success as a market leader in medical protein supplements in Thailand, there are three strategies that enable entrepreneurs to become market leaders and succeed in their businesses: meeting consumer demands, emphasizing value over price, and expanding consumer demands; and 3) The success of a market leader includes four indications that result from following strategic development guidelines: sales success, profit growth success, customer loyalty success, and efficiency success.
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