Articles

Strategies to Improve the Sales Performance of Car Loan Products in Bank Shinhan Indonesia

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In internal Bank Shinhan, My Car Loan is one of their top consumer products.  However, when compared to other car financing competitors, Bank Shinhan was far behind in terms of sales performance.  Hyundai Motors Indonesia has four official financial partners to support its car purchasing, namely: Maybank Finance, Mandiri Tunas Finance, Sunindo KB Finance, and Bank Shinhan. The company is the only bank-based financial partner, while the three others were multi-finance companies that specialized in car financing.  Moreover, two of them, Mandiri Tunas Finance and Maybank were already well-known players in the car financing industry. Meanwhile, Bank Shinhan is a new player with low brand awareness among the public. In this research, the data collection methods were interviews and questionnaires. As for the research method, for the questionnaire data, the author used the NPS (Net Promoter Score) method and reliability test. As for the interview data, the author used the TA (thematic analysis) method. With this research, the author aimed to get insights to propose new strategies.

Proposed Business Strategy for International Freight Forwarding Company (Case: PT Jahermosa)

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PT Jahermosa is an international freight forwarding company established in 2012. This company has experience handling several types of goods with various services and modes of transportation. The services provided include export-import goods delivery using sea, air, and land modes. Due to COVID-19, the company’s sales performance has decreased from 2019 to 2021. However, according to data from the Central Bureau of Statistics, Indonesia’s total exports and imports from 2020 to 2021 have experienced a drastic increase. This gap indicates an increase in the market for goods delivery services to and from Indonesia but did not accompany PT Jahermosa’s ability to absorb the market. Therefore, this study aims to provide strategic business proposals for PT Jahermosa in the freight forwarding industry to improve the company’s sales performance.

This research is qualitative research using primary data and secondary data. Primary data was obtained through interviews with several customers and management participants. While secondary data is obtained through company financial reports, websites, journals, and articles. First, an analysis was carried out on the external and internal conditions of PT Jahermosa’s freight forwarding business. External analysis was conducted using the PESTEL Framework, Porter’s Five Forces Model, Customer Analysis, and Competitor Analysis. Meanwhile, internal analysis was carried out using the Resource Based View Model, VRIO Analysis, Porter Value Chain Analysis. After that, the internal and external analysis will be put into the Business Model Canvas. Then, SWOT analysis is used to evaluate the strengths, weaknesses, opportunities, and threats to assess the condition of PT Jahermosa using the data from external and internal analysis. Evaluation of these four factors forms the basis for formulating strategic alternatives using the TOWS Matrix. Finally, root cause analysis is carried out to find the real cause of the problems encountered using Problem Tree Analysis. Based on the results of this research, the strategy is formulated using the Diamond Strategy Model by considering four factors: vehicles, arenas, differentiators, speed, and economic logic. Value proposition canvas is used to support the proposed strategy.

The limitation of this research is that financial reports need to be explained in detail to keep company documents secret. In addition, this research only covers PT Jahermosa as a freight forwarding and logistics service company. Further investigation can be made based on this research in the supply chain management, human resource management, and marketing strategy.

The Use of Marketing Mix and Business Model Canvas to Improve Sales Performance in MSME (Case Study: Waroeng 17)

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MSMEs has declared to be one of the most crucial pillars in Indonesia’s economic. The pandemic that abruptly hit the economic in 2020, has resulted in the vastly growing number of MSME. One area that has the biggest number of MSMEs is Bogor Regency, West Java. Although the businesses has created many job opportunities for people, the intensity of the market rivalry and low entrants barrier has made numbers of them decrease in the sales performance. Waroeng 17 is one of the MSMEs that suffers from decreasing sales performance in Bogor Regency, West Java. The business sales performance is categorized to unstable while it has potential in growing for the future. This research aims to analyze the environmental elements that affect Waroeng 17’s sales performance and translate it to strategies that would improve the sales performance. The methodology this research used is qualitative method by collecting data through interviews and observation. Secondary data used in this research is obtained through books, journals, news, and other reliable resources. For the environmental analysis, this research utilized the Porter’s 5 Forces and  Customer Analysis to get insights from external environment. Furthermore, this research used VRIO analysis to define the business’ competitive advantage. The data collected then summarized using SWOT analysis and formulated in the TOWS Matrix, Marketing Mix (4P’s), and Business Model Canvas. The result of the research is there are four strategies from the marketing mix’s framework regarding the improvement of products, price, place, and promotion to improve the sales performance. The conclusion is the Waroeng 17 need to optimize the social media platforms as marketing tools and increase their sales. Waroeng 17 are also recommended to partner with delivery services such as GoJek, Shopee, and Grab. The technology utilization and transfer knowledge are also necessary in the business process especially in the financial and operational activities.