Strategies for Creating Sustainable Competitive Advantage of Traditional Drug Stores: A Case Study in Bangkok

Abstract

This research aims: 1) to study the competitive situation of traditional medicine drug stores in Bangkok and 2) to explore the competitive advantages of traditional medicine drug stores for sustainable survival: a case study of traditional medicine drug stores in Bangkok. The research design was qualitative. The sample consisted of 17 business owners and employees of traditional medicine drug stores in Bangkok. Purposive sampling was used. Data analysis was interpreted and inductively analyzed. Content analysis was conducted from interviews, taking context into account, and descriptive writing was used. The findings revealed: 1) Traditional medicine drug stores in Bangkok are facing intense competition from modern pharmacies and convenience stores, resulting in a decrease in customer numbers. At the same time, consumer behavior is increasingly shifting toward modern medicine. Furthermore, government regulatory restrictions are exacerbating the situation. Therefore, operators are adapting strategies, such as creating unique selling points, providing in-depth health consultations, and utilizing online marketing to maintain their competitiveness and position in the Thai medicine market. 2) Traditional medicine drug stores' competitive advantage lies in their expertise in herbs and traditional knowledge, which cater to the health and alternative medicine trends. Providing personalized advice builds customer confidence. However, brand development and online marketing are essential to expand the customer base and maintain business sustainability, while preserving their traditional identity.