PROPOSED MARKETING STRATEGY OF NEW PRODUCT: CASE OF SPORT NUTRITION PRODUCT FOR PT KIMIA FARMA (PERSERO) TBK

• Main Author: S Kuswan, Annisrakhma
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/46889
• Institution: Institut Teknologi Bandung

Sport Nutrition Products is one of the growing markets globally, including in Indonesia. Based on Lumina Intelligence (2018), they captured 2,600 unique brand variants (with 750 distinct brands) over 20 countries, which in turn attracted over 2.4 million post-purchase reviews across leading online retailer platforms. Industry analyst forecasted the market will grow 8 percent and reach USD 44 bio in 2021. In Indonesia, Sport nutrition reached IDR 530,6 bio with 7 percent growth, but only filled by several players and dominated by international brands. This creates a good opportunity to Indonesian local manufacturers like PT Kimia Farma (Persero) Tbk to enter the sport nutrition market. This study has several objectives. First, to analyze the trend of sport nutrition uses and identify important factor to consider in Indonesian market. Second, to give recommendation for PT Kimia Farma (Persero) Tbk on what sport nutrition product they can prioritize to develop. And last, to recommend what marketing strategy which can be useful. In formulating the recommendation and conclusions, this research will be using mix method to gain insight and reach the objectives. This study uses mix method approach and conducted in three phases. First, literature review on competitor brands and current sport nutrition market in Indonesia. Second, gather qualitative data (by lead user interview) to get a better understanding on the consumer consideration and additional expertise insight. The last is gather quantitative data (by questionnaire) to confirm the hypothesis that already identify from the lead users’ interview. The frameworks used in this study including core competencies, capabilities, resources and activities for internal factors, PESTEL and Porter’s five forces framework for external analysis, SWOT analysis, TOWS matrix and Porter’s Generic Strategy for analysis the strategy. Beside generating potential marketing strategy, this study also using the Kotler’s simple model of marketing that includes market segmentation, targeting, positioning, marketing mix, customer relationship management and capture value from customer in return.