Brand Strategy and Product Development for New Home Furnishing Business in Indonesia

• Main Author: Lalita Niramaya 29116046, Festy
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/27308
• Institution: Institut Teknologi Bandung

Home is one of the basic needs of a human being. Throughout the evolution of time, the concept of home is not just a basic need, but has a value that represents the owner’s identity. Along with the growing numbers of population in Indonesia especially in productive age, the demands to furnish a home with home furnishing products become greater. With the support of a good environment to create business, there are a lot of new businesses that compete together in the market.This background condition has become the reason of establishing KamalitaHome Living as a new home furnishing business in 2017. As a new business, Kamalita need to introduce the brand and the product to the market, and deliver the unique value of the company.The competition between existing brands and new brands are the problem issue faced by new brands. How the new brands positioned itself and delivered the value through the products to the market became the main objective. Hence the idea of this research is to propose a strategy to enter and define a position and brand value in the market. <br /> <br /> To achieve the insights from target consumers, certain methods has been implemented in the final project. The first method was literature study to find out the theoretical foundation related to brand strategy and product development. The results are theoretical information about brand and product development, as well as analytical tools used to analyze the factors needed for brand strategy of a new business. The second method used was a survey in the form of questionnaire.The results are consumer information profile and consumer behavior and preferences toward home furnishing products and services. This research also explained about the currentstrategy that has been implemented in Kamalita Home Living Business. The current strategy implemented in Kamalita Home Living, the consumer profile, and the consumer behavior and preferences were analyzed to create the proposed brand strategy and product development for new home furnishing business. Analytical tools used in this research were Hierarchy Market Size (TAM, SAM, SOM) analysis to analyze the target size, Potential Consumer Profile analysis, and SWOT Matrix analysis to explore the improvable area and new opportunity on brand strategy and product development. <br /> <br /> The outcome of the analysis were the appropriate brand strategy and product development on the home furnishing brand and products. Brand experience is become one of the main consideration for consumer to choose products from a new business. The proposed strategy for new business are to do online and offline channel brand strategy on timely basis to deliver the experience to consumers and collaborate with existing brand to get market attention. The proposed strategy for product development are to do research and development on material and pattern design, and collaborate with product designer for new design development. <br />