Potential Development of Market for Entrepreneurs: A Case Study of Scented-Candle Product Entrepreneurship in Chiang Mai Province, Thailand

Abstract

This study focuses on five primary objectives: 1) studying individual data, characteristics of enterprises, and factors attracting entrepreneurs for scented-candle products in Chiang Mai Province; 2) studying the data concerning the present market of SMEs for the product; 3) studying the individual data and viewpoints of consumers towards the product; 4) studying consumers’ behavior and trends of behavior for the product; and 5) determining the trends of potential development of the market for scented-candle products by SMEs in Chiang Mai Province. The results relating to entrepreneurs revealed that the products enjoyed continuous development by offering shopkeepers a variety of products, and had great demand from overseas markets. Most of the entrepreneurs were SMEs with a family history of entrepreneurship. The most direct way to boost their sales was conducted by regularly launching sales promotion events around the country. The results concerning consumers revealed that gender, age, income and purpose of purchase had the most influence on their purchasing behavior.