THE TRANSITION FROM AN OLD MARKET TO THE MANAGEMENT OF THE OLD TOWN CREATIVE ECONOMY MARKET IN MUANG RATCHABURI DISTRICT THROUGH THE APPLICATION OF OPPORTUNITY DISCOVERY THEORY
Keywords:
Transition, Creative Economy Market Management, Entrepreneurship, Opportunity Discovery Theory, Old Town Market Muang Ratchaburi DistrictAbstract
This academic article aims to study the transition from the old market to the creative economy management of The Old Town market in Ratchaburi through the application of opportunity discovery theory. It explains the revitalization of the old market area, which had previously experienced economic decline due to structural changes in the city, technology, and consumer behavior. The study uses a synthesis method from primary sources, including interviews with entrepreneurs and tourists, and informal observation of the area, along with secondary data from documents, academic works, and relevant online media. The results show that The Old Town market's transition did not result from creating entirely new resources, but rather from the rediscovery and reinterpretation of the value of the cultural capital, identity, and history of the old market, which had previously not been adequately assessed economically. Local entrepreneurs play a crucial role as those who are aware of opportunities, can recognize the gap between the true value of resources and the market's perception, and transform this value into creative economic activities that meet the needs of consumers in the contemporary economy.
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