The study of marketing mix elements (7P's) for generating brand awareness for Non-Performing Assets (NPAs) of Bangkok Commercial Asset Management Public Company Limited (BAM)

Abstract

The objectives of this research were 1) to study the causes related to BAM business issue in managing non-performing assets ( NPAs), causing less income  than income generated from managing non-performing loans (NPLs) and 2) to study marketing mix elements (7P's) possibly affecting perceived brand equity of non-performing assets (NPAs). This research relied on the concept of marketing mix elements (7P’s), Brand Awareness and Cause and Effect Diagram. The data collection was conducted by the interview with 21 people who decided to purchase BAM non-performing asset (NPAs) which were divided into 3 groups as follows – 1) 7 regular purchasers, 2) 7 first-time purchasers and 3) 7 non-return purchasers. The data collection duration was 1 month with the interview with specifically B2C new costumers receiving service on non-performing asset (NPAs) at BAM head quarter for only 1 branch. Data were then analyzed by the presentation of keywords in table format analyzation that were collected and checked for the accuracy and completeness. After that, the inductive conclusion was made by using Cause and Effect Diagram or Fishbone Diagram written in sentences or phrases according to the theorical concepts to answer to the problem or cause of the research.

The results of this study indicated that marketing mix elements (7P’s) had 3 factors of main cause that needed to be improved which were 1. Promotion, 2. Place and 3. Price. This research presented 3 problem solving guidelines, which were prioritized as follows: 1. More effective public relations of marketing promotion activities relating to BAM asset sales discount. 2. The improvement of BAM asset selling channel such as online channel to be easy to use and more interesting and 3. Development of employee competency in terms of hospitality and coordination. All proposed guidelines had both advantages and disadvantages under required varying budgets. The guideline 1 regarding “More effective public relation of marketing promotion activities relating to BAM asset sales discount” was suggested to be used with NPAs sale discount promotion issued as the official announcement. So, it was possible to continuously announce this public relation of marketing promotion activities relating to BAM asset sale discount and it would successfully enhance generating brand awareness for non-performing assets (NPAs).