Articles

Achieving New Exsport Brand Equity through Improvement of Social Media Marketing Effort (SMME) to Increase Sales

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The creative industry in Indonesia is currently in the spotlight because it contributes significant value to the economy in Indonesia. Therefore, bags brand also plays an increasingly important role in Indonesia’s manufacturing sector and bags industry is one of creative economy in Indonesia. But, fashion industry need more than just only good quality product or good design product, to compete in nowadays, a brand must develop their customer relationship followed by the brand perception. Developing a dynamic and competitive business world demands the company to changes the orientation to the way they create the product, maintain its products, attract customers, and handle competitors. A deep understanding of how product information of a brand competes in the minds of consumers in the intense market competition is very crucial. This research will be used to create a marketing plan for the Exsport bags brand. The study utilized to produce the alternative approach is based on observations of the brand’s internal and external analysis. The qualitative technique, and TOWS analysis are used in the strategy analysis. The qualitative method is used to assess existing market knowledge, which will lead to the identification of new brand value after rebranding, where TOWS analysis will define numerous potential strategies based on external and internal brand analysis. The strategy developed by this research focus on developing a new online media strategy to showcase Exsport’s new value, as well as the relevant strategy used by the firm to compete in the future market.

Business Model Innovation Strategy for Creative Industry in Indonesia

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Indonesia’s creative economy sector has been a promising GDP source based on its steadily increasing performance since 2010. Around 70% of the businesses in this sector are said to be Micro, Small, and Medium Enterprises (MSMEs). Just like any other business, MSMEs also faces challenges not only from internal but also an external factor, hence it is crucial for an MSME’s survival to have resilience in facing problems and uncertainties. One way to assure a business’ resilience is by developing a competitive advantage that could be achieved with a good business model that can develop according to the internal and external situation through periodical evaluation and innovation. stellar/coronae as one of the MSMEs in the creative industry also faces challenges in the form of the appearance of a lot of new entrants and competitors, causing the current market they are operating in to turn into a red ocean. By using the blue ocean strategy, stellar/coronae looks for opportunities in creating a new market instead of competing in the existing red ocean by outperforming the competitors. This strategy of business model innovation is commenced with an external analysis of the business model environment to see possible opportunities and threats, followed by an internal analysis of the strength, weaknesses, opportunities, and threats evaluation of the current business model. The result of these two explorations is then combined using the four actions-framework to see what could be eliminated, reduced, raised, and created from the existing business model. The end product will be in the form of a business model where stellar/coronae not competing with the red ocean any longer but providing a new value proposition in the blue ocean.