IMPACT OF COVID-19 PANDEMIC UPON JEWELRY AND GEMS BUSINESS: MARKETING MIXED PERSPECTIVE

Abstract

The objective of this study was to determine the impact of the COVID-19 pandemic by examining the mar-keting mix strategy for Thai gem and jewelry businesses to find ways for business by exploring the marketing mix com-position of 369 jewelry and gems businesses in Thailand. Marketing mix difference was tested by using Paired Samples t-test during pre-and post-COVID and tested the hypothesis using multiple regression analysis. Results found that COVID-19 epidemic has affected almost every marketing mix component (price, distribution, sales promotion, and product) with a statistically significant difference between pairs. Therefore, business units must emphasize and adjust their marketing mix in order to cope with new opportunities, such as creating a new platform for online sales, focusing on speed adaptation, and bringing more innovation to business in order to take advantage of this crisis.