A Confirmatory Factor Model “for the Thai Anchor’s Market Opportunity Expansio

Abstract

The anchor industry creates economic value for Thailand. However, based on the current situation of Thai fishing industry in which many entrepreneurs still do not operate their business to comply with the relevant laws, the anchor industry has been negatively affected which is evidenced by an obvious fall in the overall sales. Thus, the researcher would like to find ways to expand the Thai anchor industry’s market. The objectives of this research were to: 1. study factors contributing to the market opportunity expansion of the Thai anchor industry; and 2. study the level of these factors affecting the market opportunity expansion of Thai anchor industry. This research employed a mixed research methodology combining quantitative and qualitative methods. For the quantitative research component, the sample consisted of 200 fishing industry entrepreneurs from 23 Thai provinces, selected by multi-stage sampling. The sample size was determined based on 20 times the observed variables. Data were collected with the use of a questionnaire and analyzed by confirmatory factor analysis. As for the qualitative research part, in-depth interviews were performed with 30 key informants including experts in anchors and fishing industry entrepreneurs. They were selected via purposive sampling. Data were then analyzed by content analysis. The research findings showed that: 1. the factors contributing to the market opportunity expansion of the Thai anchor industry included perceived value for money, products, price, distribution channels, promotion, personnel, physical attri butes, process, identities, and environmental friendliness; and 2. the factors including perceived value for money, promotion, price, and physical attributes were found to affect the market opportunity expansion of Thai anchor industry at the highest level whereas identities, distribution channels, products, personnel, process, and environmental friendliness had an effect at a high level. Additionally, the qualitative data analysis found that perceived value for money and promotion were significant factors playing a role in the decision to buy anchors. These research findings can be used as a model for the producers of anchors to increase their business profits by focusing on using active promotional marketing strategies and creating perceived value for their products.