Journal of KMITL Business school

ASEAN as a Safe Haven for Foreign Investors: Opportunities and Challenges Amid Global Geopolitical Tensions

Methee Chanted, Thatarot Chamroonkul, Panadda Charoensak — Mon, 29 Dec 2025 00:00:00 +0700

In an era marked by escalating geopolitical tensions and global economic uncertainty, the Association of Southeast Asian Nations (ASEAN) has increasingly emerged as a potential “Investment Safe Haven” for foreign investors. This article examines ASEAN’s strategic positioning as a secure and attractive destination for foreign direct investment (FDI) by analyzing its political stability, legal and regulatory clarity, and commitment to open, predictable economic policies. ASEAN’s relative neutrality in global power rivalries, combined with proactive economic frameworks such as the ASEAN Economic Community (AEC) and the Regional Comprehensive Economic Partnership (RCEP), enhances its appeal to multinational corporations seeking to mitigate risks from global disruptions. Key mechanisms—such as Special Economic Zones (SEZs), One-Stop Service centers, and the ASEAN Comprehensive Investment Agreement (ACIA)—further contribute to investor confidence through streamlined processes and policy predictability. However, the region faces structural challenges, including regulatory divergence among member states, unresolved regional security issues like the South China Sea dispute, and pressures stemming from U.S.–China strategic competition. Despite these challenges, ASEAN has responded through strategic diplomacy, regional economic integration, infrastructure modernization, and soft power branding. This article concludes that ASEAN’s sustained role as an investment safe haven will depend on its ability to harmonize legal standards, manage geopolitical risks, and institutionalize investor-friendly reforms—thus reinforcing its global reputation as a stable and resilient investment hub.

Cluster of Consumers to the Service Quality Affected Decision to use Internet Fiber Optic

Ajcharapan Tangjaturasopon — Mon, 29 Dec 2025 00:00:00 +0700

This research aimed to 1) study personal data, 2) study usage behavior, 3) analyze and classify service quality factors, and 4) classify user behavior according to service quality factors that affect the decision to use fiber optic internet. The sample group was 385 fiber optic internet users in Nakhon Ratchasima Province. A questionnaire was used to collect data, analyze data using descriptive statistics, factor analysis, and compare user groups using cross-tabulation. The results of the research found that most of them were female, aged 41-50 years, had a bachelor's degree, had an income between 15,001-25,000 baht, were civil servants/government employees/state enterprise employees and were single. In terms of usage behavior, most users used the service to watch TV shows/watch movies/listen to music/play games/watch online news, used it from 7:00 p.m. to 12:00 a.m., used it for 1-3 hours per time, and used it at home/residence via smartphones/mobile phones. and made the decision to use True Corporation Public Company Limited by themselves. In terms of component analysis, there were 4 factors: Factor 1) service staff 2) service center 3) service price 4) signal quality, and the results of grouping users into 2 groups: Group 1) focuses on service quality and Group 2) focuses on signal quality. The results of this research are useful for service providers in determining marketing strategies to compete with different and diverse user groups.

The Relationships between Big Data Analytics Application, Logistics Performance and Firm Performance

Mon, 29 Dec 2025 00:00:00 +0700

This study investigates the impact of big data analytics (BDA) application on logistics performance and firm performance within the framework of the resource-based view (RBV). BDA was examined through four key dimensions: descriptive, diagnostic, predictive, and prescriptive analytics. The research employed a census approach, targeting 240 logistics and transportation businesses registered with the Thai Transportation and Logistics Association. A total of 116 completed responses were used in the analysis, achieving a usable response rate of 52.5%. Data were analyzed using multiple regression analysis to test the hypothesized relationships. The results reveal that all four dimensions of BDA significantly enhance logistics performance. However, BDA does not have a statistically significant direct effect on firm performance. Instead, its influence is exerted indirectly through logistics performance, confirming its mediating role. These findings contribute to the theoretical understanding of BDA as an enabler of operational excellence, offering practical insights for managers seeking to leverage data capabilities to enhance logistics functions and overall competitiveness.

Marketing Communication Factors Influencing Parents' Decision-Making for Secondary Education Choice in Private Educational Institutions in Nonthaburi Province

dusida pranich , Narubodee Wathanakom — Mon, 29 Dec 2025 00:00:00 +0700

The objectives of this research were to study (1) demographic factors of parents, (2) institutional components, (3) marketing communication factors, (4) decision-making in choosing secondary education, (5) decision-making classified by demographic factors, (6) decision-making classified by institutional factors, and (7) influence of marketing communication factors on decision-making in choosing to continue secondary education in private educational institutions in Nonthaburi Province.

This quantitative research employed a survey design, collecting data through questionnaires from 400 parents selected through multi-stage random sampling. Data were analysed using descriptive statistics (frequency, percentage, mean, standard deviation) and inferential statistics (one-way ANOVA, multiple regression analysis).

The findings revealed that: (1) most respondents were female, aged 40-49, with bachelor's degrees, private company employees, earning 50,001-70,000 baht/month; (2) parents strongly agreed with educational management factors, marketing communication factors, and decision to continue education; (3) gender, education, and occupation differences resulted in different decision-making; (4) educational management factors (administration, curriculum, teacher quality, expenses) influenced decision-making; (5) marketing communication factors (advertising, public relations, sales promotion, personal selling, direct marketing, digital media) influenced decision-making in choosing secondary education in private institutions in Nonthaburi Province.

Service Quality Expectations that Affect Customer Satisfaction with the Central Cafeteria at Rajamangala University of Technology Thanyaburi

Jenasama Srihirun, Yutthaphong Metpan , Sornsiri Rawirojworakul — Mon, 29 Dec 2025 00:00:00 +0700

This research aimed to investigate the level of service quality expectations influencing user satisfaction at the Central Cafeteria of Rajamangala University of Technology Thanyaburi (RMUTT). Employing a mixed-methods research design, the study collected quantitative data through questionnaires administered to a sample of 400 respondents, and qualitative data through in-depth interviews with eight key informants. Statistical methods used in quantitative analysis included descriptive statistics and inferential statistics, such as t-test, F-test, One-Way ANOVA, multiple regression analysis, and Fisher’s Least Significant Difference (LSD) method. Qualitative data were analyzed using content analysis. The quantitative findings revealed that respondents had a high level of service quality expectations (X̄ = 4.34) and were also highly satisfied (X̄ = 4.22) with the overall services. Results from the multiple regression analysis indicated that service quality expectations collectively predicted 75.5% of user satisfaction (R² = 0.755). The most significant predictor of satisfaction was empathy (β = 0.229), followed by reliability (β = 0.187) and tangibles (β = 0.183), respectively. The qualitative findings supported the quantitative results, highlighting that attentiveness and flexibility of service providers are central to achieving customer satisfaction. However, a notable contradiction emerged: while the quantitative results indicated a high level of satisfaction regarding the physical environment, all qualitative participants unanimously emphasized that the remote location of the cafeteria and inadequate shuttle services were major obstacles to accessibility. In conclusion, although users reported a high level of satisfaction, underlying structural issues underlying and require urgent attention. The study contributes new knowledge by proposing a “A Sustainable Model for Enhancing Customer Satisfaction at the Central Cafeteria of RMUTT”, offering strategic insights for stakeholders to improve service quality.

Impacts of Online Reviews on Destination Trust and Travel Intention: Empirical Evidence from Nakhon Phanom’s Tourists

Khajit Na Kalasindhu, Penpak Rattanangam, Chinnakon Chaiyada — Mon, 29 Dec 2025 00:00:00 +0700

This research is conducted to investigate the impact of online reviews on destination trust and travel intention of tourists in Nakhon Phanom province. Data are collected from 400 tourists using a questionnaire and are analyzed by covariance-based structural equation modeling (CB-SEM). The results indicate that review valence, review quality, review volume, and review credibility are positively impact destination trust, with review quality being the most influential factor. Destination trust is identified as a key variable that is directly impacts and mediates the relationship between online reviews and travel intention. The role of online reviews is confirmed as an important strategy for building trust and stimulating travel decision-making. The findings are also contributed to the development of knowledge in the theory of planned behavior and are provided as practical guidelines for entrepreneurs and tourism agencies in formulating digital communication and marketing strategies to enhance the competitiveness of Nakhon Phanom province.

Brand Equity Factors and Service Marketing Mix Influencing Customers’ Purchase Decision at Starbucks Coffee Shops in Chiang Mai Province

Summie Sik, Narubodee Wathanakom , Anothai Ngamvichaikit — Mon, 29 Dec 2025 00:00:00 +0700

This study investigated the influence of marketing mix factors and brand equity on consumer decisions to use Starbucks Coffee Shop in Chiang Mai. The objectives of this research were: to examine the demographic factors of consumers influencing their decision to use Starbucks Coffee Shop in Chiang Mai, to explore the Starbucks Coffee Shop’s marketing mix factors , to study the brand equity factors of Starbucks Coffee Shop, to compare the consumers’ decision to use Starbucks Coffee Shop classified by demographic factors, to study the impact of marketing mix factors, and to analyze the brand equity factors affecting consumers’ decision to use Starbucks Coffee Shop in Chiang Mai. This research collected data using a questionnaire from a population of 400 consumers. Data were analyzed using descriptive statistics, including frequency, percentage, mean, and standard deviation, and inferential statistics by one-way ANOVA and multiple linear regression analysis. The results of the study revealed that: The most respondents were female, aged between 20-29 years old, bachelor's degree, private company employees, and earning a monthly income of less than 30,000 Baht, The marketing mix factors of product, price, promotion, and process significantly impacted the decision to use Starbucks Coffee Shop (p<0.05), and The brand equity factors awareness, quality awareness, brand associations, and brand loyalty also significantly affected the decision to use Starbucks Coffee Shop in Chiang Mai.

The Marketing Components Influencing Parents' Decisions to Purchase Youth Under Twelve Football Courses in The Bangkok

Mon, 29 Dec 2025 00:00:00 +0700

Parents play a crucial role in selecting extracurricular activities for their children, particularly football courses. This study examines the marketing mix (7P) factors that influence parents’ purchase decisions for football courses for children under 12 in Bangkok, as well as the demographic characteristics of the parents. The sample comprised 400 parents, and data were collected through online questionnaires from June to December 2024. The data collection process involved obtaining participants’ consent, explaining the questionnaire content and response procedures, distributing the questionnaire via designated social media platforms, and verifying the completeness of responses until the target sample size was reached. The results revealed that four dimensions of the marketing mix (7P)—personnel, price, training process, and promotion—significantly affected parents’ purchase decisions (p < .05). Parents expected instructors to be competent, courses to be reasonably priced, training to be systematic and continuous, and progress updates on students to be provided regularly. In addition, demographic factors such as gender, age, occupation, income, and expectations for their children significantly influenced purchase decisions, with different parent groups showing distinct decision-making patterns. The findings provide practical guidance for developing football training centers to enhance parents’ confidence and satisfaction, while promoting active participation of children, parents, and the community.

Factors Influencing the Decision to Use Rental Football Fields in Ladprao District, Bangkok

Mon, 29 Dec 2025 00:00:00 +0700

Currently, the use of rental football fields in Bangkok has been increasing, particularly among adolescents and university students. Understanding user behavior and the marketing mix (4Ps) factors is essential for service development and marketing strategy implementation. This study aims to investigate the personal characteristics of users of rental football fields in the Lat Phrao district of Bangkok and the marketing mix (4Ps) factors influencing their service usage decisions. A quantitative research design was employed, collecting data from a sample of 400 participants from a population of 112,815. Data were analyzed using frequency distribution, percentage, mean, one-way ANOVA, and multiple regression analysis. The results indicated that most participants were under 18 years old, were students, had a monthly income not exceeding 10,000 Baht, used football field services once a week for approximately two hours, typically on Saturdays and Sundays between 16:00 and 20:00. The primary reasons for using the service were social interaction with friends and peer influence. The findings suggest that maintaining high-quality facilities that are clean and well-equipped, as well as organizing activities that promote participation, such as team matching and competitions, can effectively meet user needs and support marketing strategies. This study contributes to the understanding of recreational sports consumer behavior in Thailand by providing quantitative insights into personal characteristics and marketing factors affecting service usage decisions. The results can be applied both academically and practically by rental football field operators.

Factors Affecting The SET Index

Mon, 29 Dec 2025 00:00:00 +0700

The purpose of this study is to analyse the macroeconomic factors influencing the Stock Exchange of Thailand (SET) Index. This quantitative research utilised quarterly secondary data from the first quarter of 2004 to the fourth quarter of 2024 (a total of 84 quarters). The independent variables included the THB/USD exchange rate, global crude oil price, policy interest rate, Consumer Price Index (CPI), global gold price, SET dividend yield, and the 10-year U.S. Treasury bond yield. Multiple linear regression analysis was employed to test the hypotheses. The results indicated that the policy interest rate and the Consumer Price Index had a statistically significant positive relationship with the SET Index at the 0.05 level. In contrast, the global crude oil price, global gold price, SET dividend yield, and the 10-year U.S. Treasury bond yield had a statistically significant negative relationship with the SET Index, while the THB/USD exchange rate showed no significant effect. The findings of this study provide useful implications for individual and institutional investors as well as fund managers. The results can support investment decision-making in the Thai capital market by clarifying how macroeconomic factors influence stock market movements. Investors can apply these insights to forecast market trends, allocate portfolios effectively, and manage investment risks under changing economic conditions. Additionally, the findings may assist financial analysts and investment advisors in developing more effective economic analyses and investment strategies.

Factors Affecting Household Debt in Thailand

Mon, 29 Dec 2025 00:00:00 +0700

The objective of this study is to examine the Economic Factors affecting Thai Household Debt. As household debt has continued to increase, impacting the stability of the economy, it is therefore necessary to study and urgently implement corrective measures. The analysis is based on the coefficients of independent variables. This research is quantitative in nature, using secondary data collected from government documents. The dependent variable is Thai Household Debt, while the independent variables are the policy interest rate, gross domestic product (GDP), unemployment rate, rate of change in average wages, excise tax revenue, inflation rate, net non-performing loans, and diesel prices. The sample data are quarterly data from 2009 to 2023, totaling 60 quarters. The method used is Multiple Linear Regression Analysis. The results of the study show that the factors that significantly affect Thai Household Debt at the 0.05 statistical significance level are gross domestic product, unemployment rate, diesel price, rate of change in average wages, and excise tax revenue. These variables influence household debt in descending order of importance. The mentioned economic factors are key variables that influence the level of household debt in Thailand, and the findings can be used to formulate policies and develop strategies to address accumulated household debt and prevent new household borrowing. Relevant agencies such as the Ministry of Finance, the Ministry of Labour, and the Ministry of Energy can apply the results of this study in policy planning. Meanwhile, the policy interest rate, inflation rate, and net non-performing loans are not statistically significant at the 0.05 level.

Factors of Electronic Word-of-Mouth Communication and Social Media Influencers on Tiktok That Relate to Chinese Students' Decision to Study in The Master of Business Administration Program at Srinakharinwirot University

Supawadee Wangcharoensak, Jeraboon Rodkorn , Wasan Sakulkijkarn — Mon, 29 Dec 2025 00:00:00 +0700

This study aimed to: 1) examine the personal characteristics of master’s degree students, including gender, age, educational level, marital status, employment status, average monthly income, and work experience; 2) investigate the levels of electronic word-of-mouth (e-WOM), social media influencers on TikTok, and decision-making toward enrolling in the Master of Business Administration (MBA) program at Srinakharinwirot University among Chinese students; and 3) explore the relationship between e-WOM, social media influencers, and students’ enrollment decisions. The sample consisted of 37 master’s students from the Faculty of Business Administration for Society. A questionnaire with a reliability coefficient of 0.980 was employed, and data were analyzed using percentage, mean, and Pearson’s correlation coefficient. The findings revealed that most respondents were female, aged between 21 and 30, held a bachelor’s degree, were single, mostly unemployed, earned an average monthly income between 55,001 and 65,000 THB, and had 4–6 years of work experience. The overall levels of e-WOM communication, utilization of TikTok influencers, and enrollment decision-making were rateas good. Moreover, e-WOM and TikTok influencers were positively correlated with enrollment decisions at the 0.01 significance level. The study suggests that Srinakharinwirot University should provide program information in Chinese through accessible online platforms and select credible influencers knowledgeable about the program to enhance interest and influence decision-making among Chinese students. In addition, the university should continuously monitor feedback from e-WOM, as it reflects authentic opinions and satisfaction, which can be shared on websites or social media and utilized to improve the MBA curriculum.

Purchasing Behavior and Service Marketing Mix Influencing Customer Decision to Purchase Custom-Built Computers at Zeer Rangsit Shopping Center

Reithaiwat Aphiratthanasophon, Pashatai Charutawephonnukoon — Mon, 29 Dec 2025 00:00:00 +0700

This research study aimed to examine the differences in demographic factors, differences in purchasing behavior, and the relationship of service marketing mix factors influencing the decision to purchase custom-built computers at Zeer Rangsit Shopping Center. The research population consisted of customers who decided to purchase custom-built computers at Zeer Rangsit Shopping Center. A non-probability purposive sampling method was employed. The researcher used questionnaires as the data collection tool, with a sample size of 400 respondents. Data analysis utilized descriptive statistics including frequency, percentage, mean, and standard deviation, as well as inferential statistics such as Independent Sample t-test, F-test, Multiple Correlation, and Multiple Regression Analysis. The research findings revealed 1) demographic factors, specifically education level and average monthly income, had significant effects on purchasing decisions for custom-built computers at Zeer Rangsit Shopping Center, 2) purchasing behavior factors, particularly budget/expenses per purchase or upgrade, had significant effects on purchasing decisions, and 3) service marketing mix factors, including product, price, place, people, process, and physical evidence, significantly influenced purchasing decisions for custom-built computers. Therefore, the approach to developing the custom-built computers marketing strategy should focus on value and comprehensive usability of custom-built computers, ensuring they effectively meet the needs of all consumer segments. For example, offering standard spec sets for general use, as well as specialized sets for gaming, graphics, or advanced processing.