Marketing Strategy, Product Innovation and Product Quality to Competitiveness of Banana Trunk and Coconut Sugar Serum in Thailand

Abstract

The objective of this study is to analyze the role of marketing strategy, product innovation, and product quality in the competitiveness of banana Trunk and Coconut Sugar Serum in Thailand. It is observed that the Banana Trunk and Coconut Sugar Serum business in Thailand is facing problems in terms of market growth, and defeating the competitors. By taking first-hand data from the diverse 301 respondents on the questionnaire, who are direct consumers of Banana Trunk and Coconut Sugar Serum from Thailand, this study’s ultimate objective is to provide a way to the Banana Trunk and Coconut Sugar Businesses to implements the recommendations of this study to have a competitive advantage on the consumers, that is key to capture a big market. This study concludes that there is a crucial role of marketing strategy, product innovation, and product quality to capture a big share of the market in a sustainable environment where the global supply chains are creating challenges for local businesses. Also, with the help of the recommendations of this study, the Banana Trunk and Coconut Sugar Serum businesses in Thailand can get a competitive advantage.