STRATEGY FORMULATION TO ELEVATE JENANG KUDUS COMPETITIVE ADVANTAGES USING BUSINESS MODEL CANVAS: CASE STUDY IN CV BARAKAHFOOD DELICIA

• Main Author: Awwaliya, Hilda
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/46973
• Institution: Institut Teknologi Bandung

Food and beverage industry have strong correlation with tourism sector. Thanks to the diversity of ethnic groups contribution in Indonesia. In this social media era, born new trend in tourism called “food tourism”, a combination of tourism activity and culinary. In additional, there is the fact that millennials highly contribute to driving forces towards rising food tourism trends. This trend is a potential for companies engaged in the ethnical culinary field to grab this opportunity by binding their traditional culinary products with tourism activity offering that focus on serving millennials generation, including for CV Barakahfood Delicia, producer of Jenang Kudus, authentic traditional food from Kudus that established for more than 100 years. Currently, this company is still run as traditional food producer in Indonesia with a focus on selling Jenang Kudus products in owned stores and several conventional channels. This is difficult if they want to expand the market to "food tourism". Existing business model capture in nine building blocks in Business Model Canvas. With current business model, company experience decreases in direct sales, not achieved revenue growth target, and the biggest issue is very weak brand recognition since unsegmented customer based. Current business model also evaluates using environmental analysis based on market forces, key trend forces, industry forces, and macroeconomics forces. Besides that, business model assessment using SWOT deeply analyze the strengths, weaknesses, opportunities, and threats of each building blocks and prioritized using Analytical Hierarchy Process to find out the most impactful SWOT towards current business model. Analysis result will lead into strategy formulation using TOWS matrix where generate strategic recommendation points to build better business model. Using Porter’s Generic Strategy, this final project recommends differentiation strategy for this company to gain competitive advantage. Furthermore, new business model is proposed that focused on expand customer segment into food tourism and improve value proposition.