BUSINESS STRATEGY FORMULATION FOR MARKET DEVELOPMENT TO INCREASE REVENUE IN FISH FEED BUSINESS USING BUSINESS MODEL CANVAS: A CASE STUDY OF MAKMUR ABADI TAMBAK

• Main Author: Angelinrizki Sari, Tyalintika
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/53344
• Institution: Institut Teknologi Bandung

National per capita fish consumption per year has always increased for each year starting from 2014 to 2018 and this has an impact on increasing fish production in Indonesia. The increasing fish production in Indonesia has caused the need for fish feed to increase and this condition provides opportunities for the business of selling fish feed, one of them which can be utilized by Makmur Abadi Tambak. Makmur Abadi Tambak is a fish feed sales business that has customers consisting of small, medium, large fish pond farmers and small fish pond shops. The company’s revenue for each year has increased. However, the company experienced an unhealthy financial condition due to delays in debt repayments made by large fish pond farmers. Finally, in early 2011 the company slowly implemented a cash payment system to large fish pond farmers and this resulted in large fish pond farmers ceasing to buy fish feed from the company since in the middle of 2011 which then caused the company’s revenue to experience a drastic decline and after that in the following years the company experienced fluctuating revenue. In order to solve a company problem, an analysis of internal and external conditions is carried out. Analysis of internal conditions uses the existing business model canvas and revenue performance analysis, while analysis of external conditions uses PEST and Porter’s Five Forces. This analysis of internal and external conditions will then be summarized into a SWOT as input to be entered into the IE Matrix. The IE Matrix results show that the company’s position is in cell I which results in two strategic choices, namely the intensive strategy and the integrative strategy. To get the right strategy, the two strategies are compared using the QSPM technique and it is found that an intensive strategy is the right strategy for the company, in the form of market development through opening a new fish feed store and selling fish feed online through e-commerce platforms and social media consisting of Instagram and Facebook. It can be concluded that currently the company has strong internal conditions and promising external conditions, but this does not guarantee the company is in a prosperous condition. Therefore, the company must expand its business to open a new fish feed store and sell fish feed online through e-commerce platforms and social media. In implementing this strategy, the company must prepare a marketing team for both radio and social media, admin to serve online sales, collaborate with e-commerce platforms and social media that consisting of Instagram and Facebook, messenger apps (WhatsApp), and online transportation delivery services.