A PROPOSED MARKETING STRATEGY FOR BTN PRIORITAS TO INCREASE SALES

• Main Author: Tyas Pramesti, Clarissa
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/60943
• Institution: Institut Teknologi Bandung

BTN Prioritas is a funding unit that formed to provide exclusive services for special customers of Bank BTN, every year BTN Prioritas contributes to Bank BTN's profits in the form of Third Party Funds and Fee Based Income which formed from the sales of wealth products. However, the sales of wealth products have not been maximized so that BTN Prioritas has not been able to make a significant contribution to Bank BTN's profit. In this study, external and internal analysis was carried out to determine the root cause of the sales of wealth products that were not maximized. External analysis carried out by PESTEL analysis, Porter's Five Forces analysis, competitor analysis, and consumer analysis. While the internal analysis consists of STP (Segmenting, Targeting, Positioning) analysis, marketing mix analysis, and VRIO analysis. To perform this analysis, primary data and secondary data are needed. The results of this external and internal analysis, obtained a SWOT analysis which is then processed into a TOWS matrix. After conducting the analysis, author founds the root cause of the problem experienced by BTN Prioritas that made the sales of wealth products were not maximized, such as BTN Prioritas brand awareness was not strong, ineffective BTN Priority promotional activities, the advisory function of BTN Prioritas salespersons was not optimal, the priority segments were too broad, and incomplete digital services provided to customers. This study obtained a proposed marketing strategy for BTN Prioritas to increase sales of wealth products, such as the form of a new marketing mix strategy, modification of the STP and differentiation strategy for BTN Prioritas along with a timeline for the implementation of these strategies. The recommendations given in this study are expected to increase sales of BTN Prioritas.