Abstract :

Evening, a mindful living personal care brand, seeks to overcome challenges in product innovation following the success of their Aromatherapy Eye Pillow. Despite having a loyal customer base, recent introductions like Scented Candles and Soap Bar have failed to gain significant traction. To address concerns about the product life cycle and ensure sustained growth and profitability, Evening conducted research using various analytical tools including RBV, Value Chain, PESTLE, and Porter 5 Forces. The findings were analyzed through the VMOSA framework to develop a vision and mission statement, and the Three Horizon Model was utilized to align objectives, strategy, and action plans. This integration allows Evening to balance current operations with future growth, fostering innovation, resource optimization, and alignment with long-term objectives. Analysis of Evening’s current state indicates the need to explore new business opportunities as the current model becomes less effective. To attract customers seeking research-backed offerings and overcome competition in the oversaturated skincare industry, Evening must venture beyond small-batch products. The key areas for innovation identified are: 1) creating products and experiences catering to shared wellness activities and embracing slow beauty and slow living, 2) incorporating multisensory integration to enhance consumer well-being outcomes, and 3) embracing personalization and technology by leveraging AI-driven solutions. To implement this growth strategy, Evening should consider recruiting a business partner, collaborating with a marketing agency, and creating a portfolio of new business ideas.

---

Keywords :

Beauty & Personal Care, Business Growth Strategy, Niche Brand.

---

References :

1. National Wellness Institute. (n.d.). The six dimensions of the Wellness Model. https://cdn.ymaws.com/members.nationalwellness.org/resource/resmgr/pdfs/sixdimensionsfactsheet.pdf.

2. Natalia, E. (2022). (rep.). Victoria Care Indonesia (VICI) Deserving a recognition. Retrieved March 12, 2023, from https://kisi.co.id/storage/research-analysis/August2022/gI2LSFxFU68CQMBr5P9e.pdf.
3. Maryarini, P. (2021, March 18). Indonesia’s beauty and personal care market growth. Retrieved March, 2023, from https://www.trade.gov/market-intelligence/indonesias-beauty-and-personal-care-market-growth.
4. Industri Kosmetik dan Jamu Diracik Jadi Sektor Andalan Ekspo. (2019, July 3). Kementerian Perindustrian Republik Indonesia. Retrieved March 14, 2023, from https://kemenperin.go.id/artikel/20810/Industri-Kosmetik-dan-Jamu-.
5. Hamasy, A.I.A. (2022) Industri Kecantikan Tanah Air Punya Prospek Bagus, kompas.id. Harian Kompas. Available at: https://www.kompas.id/baca/ekonomi/2022/10/25/bpom-menilai-industri-kosmetik-akan-tetap-berkembang (Accessed: April 5, 2023).
6. Yulisnawati, A. (2023) “OPINI – Dampak Pemilu Terhadap Ekonomi Masyarakat,” Surya Metro, 7 March. Available at: https://suryametro.id/opini-dampak-pemilu-terhadap-ekonomi-masyarakat/.
7. Wellness Tourism Kunci Pemulihan Sektor Parekraf Nasional dan Global. (2022, August 5). Retrieved June 3, 2023, from https://kemenparekraf.go.id/berita/siaran-pers-menparekraf-wellness-tourism-kunci-pemulihan-sektor-parekraf-nasional-dan-global.
8. McGroarty, B., Cohen, MD, M., Girr, C., Glusac, E., Hammond, R., Hubler, S., Kitchen, J., Malleret, T., Peralta, A., Roizen, MD, M., Smith, J., Starr, L., & Toro-Vaca, O. (2023). (rep.). The Future of Wellness 2023 Trends. Global Wellness Summit.
9. Interview with Nadya. (2023)
10. Mangtani, N. (2020) “IMPORTANCE OF ARTIFICIAL INTELLIGENCE AND AUGMENTED REALITY IN COSMETIC AND BEAUTY INDUSTRY POST COVID 19.” Available at: https://doi.org/10.20959/wjpr20208-18280.
11. Lee, Y., Choi, J., & Shin, S. (2020). A Study on the Direction of Evaluation Indicators for Personalized Beauty Self-care. Journal of Fashion Business, 24(6), 120–134. https://doi.org/10.12940/JFB.2020.24.6.120
12. (2022). MENKOPUKM: Wellness Indonesia Jadi Kekuatan UMKM masa depan Lewat Ajang G20. Website Resmi Kementerian Komunikasi dan Informatika RI. https://www.kominfo.go.id/content/detail/45696/menkopukm-wellness-indonesia-jadi-kekuatan-umkm-masa-depan-lewat-ajang-g20/0/artikel_gpr
13. Bom, S., Jorge, J., Ribeiro, H. M., & Marto, J. (2019). A step forward on sustainability in the cosmetics industry: A Review. Journal of Cleaner Production, 225, 270–290. https://doi.org/10.1016/j.jclepro.2019.03.255
14. Assensoh-Kodua, A. (2019). The resource-based view: A tool of key competency for competitive advantage. Problems and Perspectives in Management, 17(3), 143.
15. Madhani, Pankaj M., Resource Based View (RBV) of Competitive Advantage: An Overview (March 26, 2010). RESOURCE BASED VIEW: CONCEPTS AND PRACTICES, Pankaj Madhani, ed., pp. 3 -22, Icfai University Press, Hyderabad, India, 2009 , Available at SSRN: https://ssrn.com/abstract=1578704
16. Kumar, D., & Rajeev, P. V. (2016). Customer-centric marketing strategies: Tools for building organizational market orientation. Journal of Strategic Marketing, 24(3-4), 238-253.
17. Gupta, Dr. A. (2013). Environmental and Pest Analysis: An Approach to External Business Environment .
18. Dwyer, F. R., & Tanner, J. F. (2002). Business Marketing: Connecting Strategy, Relationships, and Learning. McGraw-Hill Education.
19. Porter, M. E. (2008). The five competitive forces that shape strategy. Harvard Business Review, 86(1), 78-93.
20. Goyal, S. (2020). Analyzing Porter’s five forces model for startups. International Journal of Advanced Research in Computer Science and Software Engineering, 10(7), 431-437.
21. Danilina, E., & Majorzadehzahiri, S. (2020). The VMOSA Model of Strategic Planning. In Comprehensive Healthcare Simulation: Implementing Best Practices in Standardized Patient Methodology (pp. 333-341). Springer.
22. Stankevič, M., & Szybowska, U. (2021). Implementing Change Through Team Building: Empirical Study in a Small Enterprise. Acta Polytechnica Hungarica, 18(4), 71-87.
23. Sharpe, B. (1996). Three Horizons: The Patterning of Hope. Journal of Business Strategy, 17(3), 13-25.
24. Blank, S. (2019). The End of the Three Horizon Model. Retrieved from https://steveblank.com/2019/02/12/the-end-of-the-three-horizon-model/