Marketing/MAT business guideline

Editorial staff

The Marketing Association of Thailand (MAT) has announced "5 main focuses" as guidelines for Thai entrepreneurs to navigate challenges, changes, and intense competition in current and future market environments.

Also, they have also unveiled a new vision as an "accelerator" aimed at bolstering the Thai marketing industry.

Dr Buranin Rattanasombat, president of The Marketing Association of Thailand (MAT), said amid challenges in economic, geopolitical, climate change, and rapid technological advancements, marketers must adapt to megatrends. From the industrial era focusing on manufacturing to the current era where digital and new media play crucial roles, it is essential to look ahead, emphasizing artificial intelligence, clean technology, and robotics.

Dr Buranin Rattanasombat

Also, marketing channels have transitioned from physical interactions to digital platforms, and they foresee a future of immersive marketing. To tackle these challenges, the association has proposed “5 main focuses” to guide Thai businesses in the second half of 2024, which include:

1. Generate motivation and good news promoting collaboration and mutual assistance within the business community.

2. Support genuine green initiatives that advocate for sustainability and responsible marketing practices.

3. Harness AI for equality, utilizing artificial intelligence to create equal opportunities and access to information.

4. Empower SMEs with their own channels and content to enhance competitiveness among Thai SMEs.

5. Accumulate expertise and experience in the Asian market, focusing on understanding and penetrating Asia, which is becoming a hub for many industries.

Therefore, marketers must enhance marketing efficiency by leveraging technology, fostering collaboration, and adapting together. They believe that in the next era, Asian countries will lead in marketing. Thai marketers must stay abreast of the situation and participate in change-innovate-transform for the future.

(right) Dr Buranin Rattanasombat, president of The Marketing Association of Thailand (MAT)

MAT moves to become a "marketing accelerator" drives marketing as a critical strategy for the country’s prosperity. Throughout its 58-year history since its establishment in 1966, the MAT has been steadfast in its five key mission pillars:

1. Branding the Nation: Utilizing marketing knowledge as a crucial strategy to drive the country forward.

2. Creating Net Positive: Supporting businesses in generating positive impacts on society, the environment, and the world.

3. Driving New Business Growth: Strengthening Thai businesses' competitiveness and their capacity for continued growth.

4. Creating Platforms for Sustainable Advantage: Establishing and linking partnerships within the association, across both public and private sectors.

5. Marketing for All: Promoting the use of marketing knowledge for small and medium-sized enterprises.

These missions reflect MAT's commitment to leveraging marketing strategies for national development and sustainable growth.

In addition, the association has announced a new vision to shift its role from being a "platform" to becoming an "accelerator." This includes plans to collaborate with relevant agencies to develop essential foresight and insight data, aiming to provide marketers and entrepreneurs with practical and actionable information

Furthermore, the association proposed the "5 perspectives that marketers and entrepreneurs must consider" under the concept of "A-B-C-D-E: 5 narketing accelerators for SMEs." These key strategies aim to assist medium-sized and small businesses in achieving success amidst economic challenges and sustaining competitiveness and growth effectively.

• A - Asia Market: Focus on expanding the customer base in high-growth Asian markets, particularly ASEAN, China, and India, through e-commerce channels and by building relationships with international tourists.

• B - Branding: Build a strong brand by creating differentiated and perceived value. Focus on generating profits from customers who appreciate the brand beyond just sales volume.

• C - Collaboration: Promote business partnerships both domestically and internationally to expand the customer base and strengthen mutual strengths.

• D - Digital: Utilize digital technology to enhance operational efficiency, reduce costs, and create excellent customer experiences. Leverage SMEs' agility to experiment with new innovations.

• E - Equity: Conduct business operations based on equity, such as customer and societal responsibility, using a single accounting system for transparency and future growth. Focus on long-term profitability rather than sales growth based on price cuts.

In an ever-evolving and fiercely competitive business landscape, Thai SMEs are compelled to continuously adapt and explore new avenues for growth. The framework of “A-B-C-D-E 5 marketing accelerators for SMEs” serves as an indispensable guide, empowering SME entrepreneurs to steer their businesses towards success amidst dynamic market conditions.

MAT underscores the significance of prioritizing value creation and perceived value for customers over price-based competition. This strategic approach not only fosters immediate growth but also lays the foundation for sustainable business success in the long term.