Proposed New Marketing Strategy For Fashion Company (Case Study: Zowef)
| Main Authors: | Zoefri, Muhammad Khalid; School of Business and Management, Institut Teknologi Bandung, Mansoor, Alvanov Zpalanzani; School of Business and Management, Institut Teknologi Bandung |
|---|---|
| Format: | Article info eJournal |
| Bahasa: | eng |
| Terbitan: |
The Indonesian Journal of Business Administration
, 2022
|
| Online Access: |
https://journal.sbm.itb.ac.id/index.php/IJBA/article/view/4421 |
Daftar Isi:
- Currently, fashion is growing very fast with a wide variety of variations on offer. Fashion is not only a primary need, but has become an artistic necessity so that it can encourage the growth of this industry more rapidly. With the depreciation of the value of the goods long enough, it can make fashion products as collectibles that have very high value. Fashion contributed 18.01% to the creative economy sub-sector, of which this sub-sector contributed 7.44% to the national economy in 2017. The development of fashion in Indonesia itself is influenced by European and Asian cultures which make the diversity of fashion in Indonesia very much. Among the fashion styles that are currently popular in Indonesia, there are streetwear styles that are currently one of the most popular style choices. Streetwear is a typical street fashion style. Like most cultural movements, streetwear is a culture that is very difficult to identify. Zowef is a fashion brand based in Bandung. Since its establishment at the end of 2019, Zowef's sales have not yet reached the desired target. The tendency to decline in sales is the main business issue faced today, where sales have decreased so that there are no product sales at all. This is due to several factors with the disorganized business processes carried out by Zowef. This study aims to find an effective and appropriate marketing strategy to increase Zowef's sales revenue by using descriptive qualitative methods. Internal and external analysis is used later to analyze the condition and current position of the company. For internal analysis, this research will apply Marketing Mix 7Ps analysis and STP analysis, while for external analysis using Porter's Five Forces and Competitor analysis. Then proceed with Root Cause analysis to find problem points and SWOT analysis to get the right strategy formulation. The strategies that have been obtained will be arranged in the form of a timeline and chronological order so that it is easy to control and see the flow of the strategy used. Keywords: Fashion, Streetwear, Marketing Strategy, 7Ps Marketing Mix, STP Analysis, Porter's Five Forces, Competitor Analysis, SWOT Analysis