LOCAL PRODUCT DEVELOPMENT MODEL TO INCREASE COMMUNITY ECONOMIC POTENTIAL OF RANONG PROVINCE, THAILAND

Yenjit Kongpan, Yananda Siraphatthade, Ekgnarong Vorasiha, Jiraporn Boonying

ABSTRACT:

The current study examines the impact of product development and cultural capital on the community economic potential in Ranong Province, Thailand. The current article also investigates the mediating role of strengthen firm performance among the linkage of product development, cultural capital and community economic potential in Ranong Province, Thailand. The present study has applied primary data collection methods such as questionnaires distributed using personal visits. The current research has also applied SPSS to investigate the linkage among variables. The results indicated that product development and cultural capital have a significant and positive nexus with community economic potential. The results also revealed that strengthen firm performance significantly mediates among the linkage of product development, cultural capital and community economic potential. These findings provide the guideline to the policymakers while establishing new policies related to improve the community's economic potential using product development and cultural capital.

KEYWORDS: Strengthen Firm Performance, Product Development, Cultural Capital

DOI: 10.62788/Q8b3N7m6pF

PUBLISHED IN: ICMIESS 2023 Conference Proceedings

DATE OF CONFERENCE: 1st - 2nd MAY 2023

CONFERENCE LOCATION: OKINAWA, JAPAN

PUBLISHER: EDUCATION STUDIO (THAILAND) CO., LTD.

ELECTRONIC ISBN: 978-616-7901-68-8

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