BUSINESS STRATEGY FOR KREDIT CEPAT A MULTI-FINANCE COMPANY TO ENTER THE TWO-WHEELER MARKET

• Main Author: Satrio Prabowo, Aditya
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/35599
• Institution: Institut Teknologi Bandung

Kredit Cepat a multi-finance company has just recently entered Indonesian market in 2013. Kredit Cepat provides financing for consumer electronics and cash loans. Over the course of five years Kredit Cepat has managed to become the leader in consumer electronic in Indonesia with market share of 55%. Kredit Cepat manages to become the market leader through its fast application process, wide network coverage and large sales force. Kredit Cepat target customer are coming from mid to low income segments who have no access or experience with financial services. As Kredit Cepat has already reach its maturity stage in the consumer electronic segments it needs to reinvent themselves or invest in new emerging markets. Problem also arise for funding as banks prefer to finance secured loans rather than unsecured loans. To answer these issue Kredit Cepat is assessing two-wheeler market to enter. The purpose of this research is to create business strategy to enter two-wheeler market in Indonesia and creating unique value proposition to customer. Two-wheeler market attractiveness and potential is analyzed through PEST and five porter forces analysis. Whilst internal analysis of the company is conducted through value chain analysis and resource based view analysis. A combination from external and internal summary is translated into SWOT analysis tool to assess Kredit Cepat internal strength and weakness combine with external opportunity and threats. Primary data from this research will be done through survey with customer who has experience with two-wheeler financing and qualitative interview from internal Kredit Cepat employee. Secondary data will also be used to support finding and formulate business strategy for Kredit Cepat to have competitive advantage against current competitors. Business strategy formulation was created using diamond strategy and business model canvas to create unique value proposition for Kredit Cepat. After gathering information from internal and external analysis combine with survey a summary of value proposition is formulated. For Kredit Cepat to enter the two-wheeler market it needs to use differentiation leadership as the fastest in credit process through non-captive financing brand and independent dealer. Unique value proposition Kredit Cepat should offer is fast credit applications, mobile apps to cover end-to-end process, reliable and accessible customer service, financial product transparency and flexibility and access to Kredit Cepat loyalty program.