VALUE PROPOSITION TESTING OF PERSONAFIC (MENS SKINCARE BRAND)

• Main Author: Satria Buana, Dhimas
• Format: Theses
• Language: Indonesia
• Subjects: Manajemen umum
• Online Access: https://digilib.itb.ac.id/gdl/view/57425
• Institution: Institut Teknologi Bandung

In today's era, not only women who use skincare, but also men. This is indicated by reports that the men's skincare market continues to grow, including in Indonesia. The huge potential in the men's skincare industry has made many companies offer products for men's skincare needs, including many new businesses. Unfortunately, many new businesses fail in the early years of their establishment, partly because they don't have a value proposition that is relevant to customers. Among the businesses in the newly established men's skincare industry is PERSONAFIC, a local brand that focuses on providing men's skincare products. Currently PERSONAFIC has one product, namely facial wash. Because it has just been established, PERSONAFIC does not have yet a proven value proposition that is accepted by customers. In addition, the PERSONAFIC value proposition that has been designed has not focused on certain values that address certain problems or needs/wants. In this study, the author tested the value proposition that had been designed previously. The framework used is value proposition testing by Osterwalder, where the author must analyse the value proposition canvas consisting of a customer profile and value map, perform competitor analysis, and perform a customer assumption test using a keyword test and using a survey. The results of this customer assumption test are mapped into an on-paper value proposition canvas, where customer assumptions considered high validated and low validated can be seen clearly. By analysing the onpaper value proposition canvas and competitor analysis that has been done previously, the author extracted three value proposition hypotheses, namely (1) men's facial wash with low pH, (2) made with good quality active ingredients, and (3) brighten the skin, reduce oily skin, and get rid of acne. From the three value proposition hypotheses, three stages of testing were carried out, namely interest validation, preference validation and willingness to pay validation using indirect observation of customers. The tool used to test the value proposition is action tracking using ads and landing pages. The results of interest validation and preference validation show that Value Proposition 2, which is made with good quality active ingredients, is the value proposition that gives the best score among other value propositions. Meanwhile, willingness to pay validation shows that Value Proposition 1 has the highest score, even though it has a very small difference in results with Value Proposition 2. From the results of the value proposition testing, then a value proposition delivery is made to convey the value proposition to customers, namely by optimizing channels and building customer relationships. Channels that must be optimized are landing pages, online marketplaces, social media Instagram and WhatsApp Business. Meanwhile, to build a customer relationship, PERSONAFIC must provide personal assistance and social interaction. In optimizing channel and building customer relationship, there are challenges that must be done so that the results are maximized to deliver the value proposition. These challenges are written in the implementation plan in the last segment of this study.