PROPOSED BUSINESS STRATEGY FOR TOFORD PLASTIC MANUFACTURING CORPORATION TO ENTER INDONESIAN AQUACULTURE MARKET

• Main Author: Fathin Rizal, Patih
• Format: Theses
• Language: Indonesia
• Subjects: Manajemen umum
• Online Access: https://digilib.itb.ac.id/gdl/view/45225
• Institution: Institut Teknologi Bandung

Indonesian fisheries industry continues increasing over year, slightly behind China as the largest fish produces in the world, started in 2014 after national long-term development program. Aquaculture is the fastest growing food production sector in the worldas well as one of the potential sectors in fisheries. Thereby, aquaculture can also be one of the solutions to food sustainability that’s being faced across the world. Every year government set higher growing rate target for fish consumption per capita around 1-2%. The potential area for aquaculture in Indonesia is around 17.92 million hectares, while most of them are marine aquaculture potential around 12.12 million hectares. For marine aquaculture, HDPE100 material is the best suited for cages raw material because of the durability, corrosion resistance, and low capital investment. Toford Plastic Manufacturing Corporation have high interest in marine aquaculture in Indonesia. In analyzing Indonesian aquaculture market, some analysis is made. PESTEL, Porter’s 5 Forces, STP, Marketing Mix, Value Chain, and SWOT analysis are used to examine Indonesian aquaculture market for Toford. The result showed that Indonesian aquaculture market still in the beginning phase proven by limited regulation for aquaculture, most of farmers are smallholders with simple technology and limited area, low variety of fishes being raised,lots of potential area haven’t been grabbed by farmers, lots of global competitor but only few of them have presence in Indonesia market. To enter Indonesian aquaculture market, strategic formulation is made for Toford using TOWS and Ansoff Matrix. Based on strategic formulation, there are 3 solutions for Toford which are having representative agent in Indonesia, become turnkey solution provider, and building pipe factory. Representative agents for Toford in Indonesia will help Toford to take care some administrations such as shipments and contracts in Indonesia as well as other South East Asia Countries, working on marketing projects, building up relationship in line with trust and network, attending and participating Toford in aquaculture business exhibition, expos, and conferences which will bring more connection to farmers, suppliers, manufacturers, and experts from several regions. Become turnkey solution providerby having new company that cooperate with other companies will have impact in medium and long term in strengthen competitive rivalry in the market.The main idea is to establish a set of relationships with several agents on the Indonesian market, and then setting up a wide range of solutions' portfolio with the help of supplier partners. Building pipe factory aim to establish a subsidiary factory overtime in Indonesia in order to become more efficient in terms of logistics and network issues. Further research needs to be done for new product development and KPI of agent, brand awareness, business review must be controlled and evaluated each time period by Toford to ensure good, trustable, and sustainable aquaculture product to Toford loyal customer.