Development of marketing strategies for Thai SMEs based on customer knowledge management and factors of marketing mix 4Es

Abstract

This research study about the challenge Thai small and medium-sized enterprises (SMEs) face due to a lack of sufficient data on Chinese customers and the Chinese market, particularly within the context of active trade between China and Thailand. Thai small and medium-sized enterprises play a crucial role in the country's economy, significantly contributing to the GDP. However, several limitations including a lack of resources, capital, and knowledge, especially in comparison to larger enterprises and multinational corporations, hinder their competitiveness in a rapidly growing trade environment. Using a methodology that includes text mining of product comments from Chinese social networking and e-commerce platforms Xiaohongshu, this research extracts trends and customer preferences in the Chinese market. The results show that keywords frequently mentioned by Chinese customers, which can help Thai small and medium-sized enterprises understand current trends and customer requirements better. This research provides valuable insights through the integration of customer knowledge management and the 4Ps to 4Es marketing framework, generating targeted marketing strategies for enterprises. In addition, semi-structured interviews with experts are conducted to refine these strategies. In the long term, this research equips Thai small and medium-sized enterprises with a deeper understanding of the Chinese market, supporting their competitiveness and future growth.