Title: The Impact of Folklore Clusters on Customer Preferences in China’s Economy
Author: Shin Thant Shwe Yee
Advisor: ดร.วรางค์รัตน์ นิติวนะกุล – Dr.Warangrat Nitiwannakul
Degree: Master of Business Administration
Major: International Business Management
Faculty: บัณฑิตวิทยาลัย (Graduate School)
Academic year: 2567 (2024)
Published: The 16th National and International Academic Conference 2023 “Digital Transformation and Sustainable Innovation: Strategies for a Sustainable Future” 31 Oct. – 1 Nov. 2023, pp.633-642 Click PDF
Abstract
This research investigates the Chinese folklore-driven market, which encapsulates consumer preferences and behaviors influenced by traditional customs and beliefs. It explores the interplay between folklore elements, which include yin-yang concepts, mythological symbols, festival practices, and consumer demand for culturally significant products. The study identifies key challenges, including under-commercialization, low visibility of folklore in product marketing, and the necessity for modernization to appeal to younger demographics. By analyzing the current conditions of the folklore market, the study seeks to highlight the economic potential and cultural significance of integrating folklore into contemporary products and marketing strategies. The significance lies in providing insights for international companies targeting Chinese consumers, emphasizing the importance of cultural localization, product innovation, and awareness of folklore’s commercial value. This research not only contributes to economic growth within the folklore-driven sector but also fosters cross-cultural understanding and appreciation of Chinese heritage in global markets. It examine the dichotomy between niche and mass market approaches, highlighting how firms strategically tailor their offerings based on demographic insights and consumer preferences. The influence of the Chinese government’s initiatives in promoting cultural preservation and supporting small and medium enterprises (SMEs) is analyzed, along with the importance of intellectual property rights in safeguarding traditional knowledge. The study also delves into the significance of marketing and consumer engagement, emphasizing the effective use of digital platforms and immersive experiences to connect with audiences. Additionally, it discusses supply chain strategies, such as local sourcing and artisanship, which enhance product authenticity, alongside the challenges of scalability. The interconnectedness of the folklore cluster with tourism and media industries is highlighted, illustrating its role in cultural promotion and economic growth. The findings suggest that the folklore-driven market thrives through a combination of strong demand, innovative business strategies, and substantial government support, positioning firms that balance tradition with modernity for success in an increasingly competitive landscape.
Keywords: folklore, folklore-driven market, China, customer preferences
The Impact of Folklore Clusters on Customer Preferences in China’s Economy
6417192004 – Shin Thant Shwe Yee 2567 (2024) The Impact of Folklore Clusters on Customer Preferences in China’s Economy สารนิพนธ์ (Independent Study), Advisor: ดร.วรางค์รัตน์ นิติวนะกุล – Dr.Warangrat Nitiwannakul, ปริญญาโท (Master’s Degree), บัณฑิตวิทยาลัย (Graduate School), Master of Business Administration, International Business Management, Bangkok: Siam University