A Causal Relationship Model of 7P’s Marketing Strategy and Business Innovation Capability Influencing the Business Success of Micro-Enterprises in Chanthaburi Province
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Abstract
This research aimed to examine the consistency of the causal relationship model of 7P’s marketing strategy and business innovation capability and to study the direct, indirect, and overall effects of variables that influence the business success of micro-enterprises in Chanthaburi province. This research was quantitative in the form of a survey. The population consisted of micro-enterprise entrepreneurs in Chanthaburi province. The sample was randomly selected using a stratified sampling method based on the proportion of the business sector and simple random sampling using the lottery technique, resulting in 280 samples analyzed. The hypotheses were tested using structural equation modeling statistics, confirmatory factor analysis, and path analysis. The findings indicated that 1) the causal relationship model was consistent with the empirical data and 2) 7P’s marketing strategy positively influenced business innovation capability directly. Business innovation capability positively influenced the business success of micro-enterprises directly, and 7P’s marketing strategy had a positive direct effect on the business success of micro-enterprises and had an indirect effect through business innovation capability. The theoritical contribution is that it can integrate marketing perspectives and innovative ability to succeed in micro-enterprise operations. As for the implementation aspect, it can be used as a guideline for small enterprises to achieve their business goals.
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