Proposed Marketing Strategy for Imaji Kopi to Improve Revenue Growth
| Main Authors: | Wiyatmoko, Inta; School of Business and Management, Institut Teknologi Bandung, Belgiawan, Prawira Fajarindra; School of Business and Management, Institut Teknologi Bandung |
|---|---|
| Format: | Article info eJournal |
| Bahasa: | eng |
| Terbitan: |
The Indonesian Journal of Business Administration
, 2022
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| Online Access: |
https://journal.sbm.itb.ac.id/index.php/IJBA/article/view/4461 |
Daftar Isi:
- The number of coffee shop outlet in Indonesia has grown rapidly, from 1,083 outlets in 2016 then increased to more than 2,937 outlets in 2019. This significant growth is driven by the high consumption of the young generations and urban workforce. Indonesia’s booming coffee-drinking lifestyle continuous to expand to remote areas. Imaji Kopi is a coffee shop in Bontang founded by Febri A. Saputra in October 2016 that serve various high-quality coffee menu. Currently, Imaji Kopi facing a business issue that their revenue is relatively stagnant or even tend to decrease. The research objective of this study is to determine the effective marketing strategy to improve revenue growth and arrange an implementation plan for the proposed strategy. Based on the external analysis, the coffee industry in Bontang is growing but more challenging due to intense competition from existing players and the new entrants. According to the internal organization analysis, Imaji Kopi has several competitive advantages that can be used to develop alternative marketing strategy. The result of the external environment analysis (using general and industry environment) and the internal organization (using VRIO framework and Value Chain) analysis are valuable input for SWOT analysis. TOWS analysis, STP approach, marketing mix 7P, and product-market strategy will be used to develop the alternative marketing strategy to increase revenue growth of Imaji Kopi. The implementation plan will be developed to help Imaji Kopi to keep on the right track during implementing the proposed marketing strategy. Keyword: coffee shop, marketing strategy, revenue growth, TOWS, product-market