Articles

Business Strategy to Increase Sales Performance: Case Study of a Mineral Water Product in Indonesia

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Currently, people in Indonesia are starting to become aware of consuming proper drinking water so the demand for proper drinking water increases every year. This is an opportunity for Club mineral water to meet market demand. Club’s drinking water brand has started to gain public attention, as shown by the Club’s brand being included in the category of five bottled drinking water based on consumer choice according to Indonesia’s Top Brand data. Even so, the Club has the lowest market share percentage when compared to its four competitors. Furthermore, looking at the internal sales performance of the Indofood CBP’s group, sales of the beverage division were smaller than other divisions. This shows that the Club needs to analyze its strategy to improve its sales performance so the company can become a leader in its market. This study further analyzes how the company runs its business from an external and internal perspective. This study uses external analysis such as PESTEL analysis, Porter’s five forces, consumer analysis, and competitor analysis. Moreover, there are also internal analyses such as analysis of the company’s core competencies, resource-based analysis, and VRIO. Then a further analysis was conducted by using a SWOT analysis to determine the strengths, weaknesses, opportunities, and threats to the Club’s mineral water products. This study uses qualitative and quantitative methods using a survey of Club mineral water customers. The researcher also analyzed the position of the Club’s mineral water compared to its business competitors in terms of sales, followers on Instagram social media, frequencies of Instagram posting, and how competitors use digital media. After that, the TOWS matrix will help the Club’s mineral water develop its business and sales. The recommendations given include that the company should know its core competencies to develop, makes product innovations that are different from its competitors, improve the way product promotions are delivered, and optimizes digital media as a sales tool. Strategy implementation in the form of a Gantt chart is made based on these recommendations so that PT ICBP Club could implement it properly.

Business Strategy for Pharmaceutical Company to Become the Market Leader in the Psychiatry Sector in Indonesia

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The prevalence of people with mental disorders in Indonesia continues to increase and its growth has been accelerated by the COVID-19 pandemic. The increase of the prevalence is also extrapolated to the market for psychiatric drugs in Indonesia which has grown by ten percent from 2018 to 2019 and 2019 to 2020. In the psychiatric market, 12 companies with the highest sales already account for 80% market share. Seeing the psychiatric drug market condition that continues to grow and its market share is still small, the low-market-share pharmaceutical companies must have a new business strategy to seize this opportunity and become one of the market leaders in the psychiatric drug market in Indonesia. This research was conducted to determine the main external and internal factors that affect psychiatric drug business and then provide alternative business strategies for pharmaceutical companies to become one of the market leaders in the psychiatric market. In this study, interviews were conducted with 18 experts in the pharmaceutical field. Data from interviews were analyzed using content analysis. Pharmaceutical market data from IQVIA was used in this study and analyzed using the growth-share matrix. The results of the content analysis show that the main external factors affecting the psychiatry business are categorized into legal, political, economic, market, technological and social aspects. Meanwhile, the key internal factors are categorized into brand, corporate culture, human assets and intellectual capital, organizational resources, originality, physical resources and relationships. Low-market-share companies in the growing market need to carry out an intensive strategy to increase its market share through product development, market penetration and market development.