MARKETING STRATEGY OF ELECTRONIC MONEY IN ONLINE MARKETPLACE: STUDY CASE OF BUKALAPAK

• Main Author: Asri Rahayu, Maharani
• Format: Theses
• Language: Indonesia
• Subjects: Manajemen umum
• Online Access: https://digilib.itb.ac.id/gdl/view/46300
• Institution: Institut Teknologi Bandung

Electronic money has become a trend in Indonesia. Bukalapak also create electronic money facility by having partnership with financial technology company which has the license. For using this facility in Bukalapak, user is asked to bind their Bukalapak account with the third party account. After Bukalapak create electronic money, many of the users bind their account. But based on data of Q3 2019, Bukalapak found that there are still many potential users who haven’t bind their account and wants them to bind. To find to the reason why these potential users does not bind, this research uses environmental analysis. In external analysis, research conduct analysis using Politic, Economy, Social, and Technology (PEST) method. Further analysis will also discuss about competition using Porter 5 Forces. Qualitative consumer interview and quantitative consumer survey also will be done to gather data which later on will be analyzed using descriptive method. In internal analysis, research conduct analysis about Value, Rare, Imitate, and Organized (VRIO) method of company’s resource. Qualitative internal interview will be done to gather data and internal perspective towards the implementation. Data gathered in environmental analysis will be analyzed using Strength, Weakness, Opportunity, and Threat (SWOT) method. Result shows that user has low awareness and attractiveness of electronic money. In the current implementation of analysis, the information and promotion of electronic money is not prominent. Electronic money also only gives facility of instant payment and exclusive promo which still not attractive enough for user. It is suggested that Bukalapak create a full week campaign to expose and promote electronic money only. Increase the attractiveness by implement more facility such as electronic money as refund and cashback wallet. Bukalapak can make top-up experience easier by creating instant top-up feature. To educate user regarding the new feature and spread awareness of electronic money’s information, Bukalapak is suggested to create a pop-up explain about electronic money in homepage. With these benefits, user will see that electronic money is more attractive. Overall suggestion will be implemented into two quarters. For suggestion required new implementation and programming, it will be created and launched one by one in those quarters. In parallel, Bukalapak may launch the quickest solution first which is the full week campaign. The new solution will require cooperation between Bukalapak and financial technology partner.