Articles

Propose Strategic Marketing Initiatives to Accelerate Market Share and Revenue of MEDTECH Company for Trauma Implant Device in Indonesia (Case Study at MEDTECH Company)

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Trauma is a critical global health issue, leading to millions of serious injuries and significant fatalities worldwide, particularly from traffic accidents. In Indonesia, traffic accidents were the fifth leading cause of death in 2023, highlighting the urgent need for effective trauma care. Despite the pandemic, the trauma device market in Indonesia experienced growth, with MEDTECH’s portfolio outperforming the market but still underperforming in revenue generation. This research aims to address MEDTECH’s challenges and formulate strategies to enhance its market presence and sales performance.

The study is divided into three phases: identifying core business issues, establishing a theoretical foundation using PESTLE and Porter’s Five Forces, and conducting a SWOT analysis. The PESTEL analysis revealed opportunities such as economic growth and technological advancements, and threats including local content regulations and supply chain issues. The Porter analysis suggests moderate market attractiveness due to competition and innovation needs. The STP analysis identifies key targets, including Tier 1 hospitals for advanced Variable Angle (VA) implants and Tier 2 hospitals for cost-effective Mono Angle (MA) implants. The Marketing Mix analysis highlights the need for product updates, pricing adjustments, expanded distribution, and enhanced promotional activities. To strengthen its position, MEDTECH should focus on immediate product development and market penetration strategies, while also planning for long-term local manufacturing and regulatory compliance to ensure sustainable growth in the Indonesian market.

Research, Development and Design for Product Development SAC: Interaction Design Mobile Web Application Using User Centered Design Methodology

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In the era of Covid-19, people are more sensitive to their health and hygiene. SAC is present in the community as a service to clean each customer’s favourite shoes. Even though SAC has been around since 2013, until now they have not touched the digital realm. For this reason, innovation for SAC needs to be implemented so they are not left behind by competitors who are starting to become aware of digitalization. So that the implementation of digitalization can save costs and time, the approach to making digital products is through product development. To innovate through the use of product development in digital, a User-Centered Design (UCD) method approach with a Design Thinking (DT) mindset is used. The UCD process includes understanding context, specify user requirements, design solution, and evaluate. With the DT mindset, the process of emphatizing, defining, and ideation is applied to the understand context and specify user requirements so that this research will understand the usability side for users. With the addition of 5 UCD elements from Jesse James Garret, the digitalization process will be more in-depth and detailed in terms of creating interface design solutions. Primary data will be collected through In-depth Interview resulting abundant data that create persona and Minimum Viable Product(MVP). This research aims to analyze and identify the user experience flow for the prototype mobile web app product design SAC with the identifying the MVP and design prototype mobile website application and later do some usability testing to getting result that can meet the needs and uses for SAC customers. The result of this design approach method is a high-fidelity mobile web app prototype which was evaluated using Usability Testing (UT). The persona of each customer and the desire are the first key in development. Strong framework is formed with information architecture, low-fidelity, and high-fidelity prototypes. The final stage of the UCD iteration is to evaluate Usability Testing with a binary task success rate of 90%. Another UT results of quantitative data analysis with the Single Ease Question (SEQ) showed the number 6.42 and the System Usability Scale (SUS) showed the number 87.5 with quality A.

The Influence of Critical Success Factors of Innovative Insurance Product Development Concept Test towards Purchase Intention: An Empirical Study of Millennials and Generation Z as Target Market in Indonesia

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The insurance industry faces numerous challenges, including intensifying competition, shifting customer expectations, and disruptive technological advancements. To navigate these challenges successfully, insurance companies must embrace innovation in product development. This approach enables them to meet the evolving needs of customers, adapt to market changes, and deliver greater value to their clientele. In Indonesia specifically, insurance companies face the considerable challenge of low insurance penetration, which has remained stagnant over the past five years from 2017 to 2021 (AAJI, 2022). Furthermore, insurance literacy and inclusion levels are alarmingly low, standing at only 19.40% and 13.15%, respectively, significantly below the Indonesian averages of 38.03% and 76.19% (OJK, 2019). Considering these challenges, PT Delta Echo Lima Insurance (placebo name and hereinafter named “DELI”) aims to address these issues by developing innovative, customer-centric insurance products and aspires to launch a ground-breaking insurance concept in Indonesia targeting Millennials and Generation Z. This research focuses on analyzing the characteristics of the target market and examining the correlation between critical success factors as key dimensions of the concept test for innovative insurance products and their influence on perceived innovation, perceived value, perceived price, and purchase intention. Additionally, an overall relationship model is established to provide a comprehensive understanding of the interconnections between these variables. To gather data, a quantitative approach was employed, utilizing questionnaires as the primary research instrument. The aim was to collect responses from two distinct groups of participants: Millennials and Generation Z. The collected data was then processed using the SmartPLS 3.0 software application, enabling the application of Partial Least Square Structural Equation Modelling (PLS SEM) analysis to derive insights and draw conclusions. This research provides valuable insights into the influence of critical success factors of innovative insurance product development concept tests on various aspects, including perceived innovation, perceived value, perceived price, and purchase intention among Millennials and Generation Z. The findings shed light on the unique characteristics of these target markets and highlight the significance of perceived value in driving customers’ purchase intentions. By understanding these dynamics, insurance companies like PT DELI can better tailor their product development strategies to effectively cater to the needs and preferences of Millennials and Generation Z while addressing the challenges and opportunities within the Indonesian insurance industry.

From Farm to Table: Transforming The Shrimp Industry through Food Traceability and Business Differentiation Strategies at PT. Udang Maju Sejahtera

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This thesis investigates the development of a food traceability system for the shrimp export industry at PT. Udang Maju Sejahtera (UMS). The primary objective was to enhance the transparency and accountability of the shrimp supply chain, thereby improving product quality and consumer trust.

The study employed a three-pronged approach: formulating a robust business strategy, innovating product development, and restructuring the organization into a cross-functional team. The business strategy focused on aligning the company’s operations with the emerging demands for food traceability in the export market. The product development innovation involved the creation of a traceability system that leverages advanced technology to track and record the journey of shrimp from farm to consumer.

The restructuring into a cross-functional team aimed to streamline the decision-making process and accelerate the development cycle. The results indicated that while PT. UMS’s strategy aligns with the industry’s direction towards increased traceability, the development process was time-consuming and required organizational restructuring.

The study concludes that the integration of a cross-functional team within PT. UMS could expedite the development and implementation of the traceability system, thereby enhancing the company’s competitiveness in the shrimp export industry. Recommendations for PT. UMS include enhancing innovation management, investing in advanced technology, collaborating with external partners, and adopting a culture of continuous improvement. Future research should explore the long-term impacts of these recommendations on the company’s performance and the traceability system’s effectiveness.

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.

Design Thinking for New Product Development (Leradia Case Study)

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The development of a new product is an important thing to do for developing a business, moreover in the fashion business industry. New product development can determine how an organization brings off its succession, such as in sales and profit. The new product development can bring 50% sales and 40% of profits for an organization. The new product development needs to be done to fulfill the customer’s needs and wants and complete their demand for a product. As a new business, Leradia as a modest fashion business from Indonesia has not generated a unique perspective from customers and has not understood the Leradia persona as well as their pain and gain. Thus, in order to avoid the failure of a new business, connect with customers, and compete in the market, Leradia aims to understand Leradia customer pain and gain and get to know what kind of development. Qualitative methods are used by interviewing six of Leradia’s most loyal customers to develop an understanding of Leradia’s customers. Adopted the study methodology of design thinking there are five stages to proceed with the data gathered; Empathizing, Defining, Ideate, Prototype, and Test. Starting from analyzing the customer persona until the proposed product development and testing the proposed solution to the customer to get the customer feedback and point of view.