EFFECT OF MARKET STRATEGIES, NON-MARKET STRATEGIES, MARKET TURBULENCE, AND TOP MANAGEMENT COMMITMENT ON COMPETITIVE ADVANTAGE OF BUSINESS IN THAILAND

Abstract The importance of marketing strategy has been increased in the past few decades for getting a competitive advantage in the market because marketing strategy combines all types of strategies and marketing goals into one effective plan. Though, this study aims to identify the impact of market and non-market strategy emphasis on the competitive advantage of the firm in a saturated pharmaceutical market of Thailand. The given study also aims to examine the mediating impact of market turbulence and the moderating impact of top management commitment TMC. To find the impact of these variables the given study collected data through the use of a self-administered paper questionnaire. A survey of 442 employees and top managers of pharmaceutical firms in Thailand identified market strategy as a key factor of competitive advantage and performance of the firm. Structural equation modelling and KMO techniques were used in this research to check the validity of the hypothesis. The results and findings of the research suggest that the impact of market strategy has been significant in the competitive advantage of the firm. Furthermore, the outcomes of the study also indicate that market turbulence mediates the relationship between MS and the competitive advantage of the firm. The study contributes to various sectors to cope with the challenge of competitive advantage