PROPOSED BUSINESS STRATEGY AND MODEL FOR BEAUTY EDUCATION FIRM: CASE OF PT NATURAL BEAUTY INDONESIA

• Main Author: Cho, Won
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/62863
• Institution: Institut Teknologi Bandung

Indonesia has become one of the world’s largest economies mainly due to the robust economic growth for decades and expansion of the domestic market due to the increase in population. In particular, the growth in the income of the middle class and the increase in the female labor force are explosively driving interest and demand for beauty. Accordingly, the market volume of the cosmetics and toiletries industry in Indonesia to be projected to reach US7.6 billion in 2024, at a compounded annual growth rate(CAGR) of 8.1% over the forecast period 2019-2024. On the other hand, interest in beauty creates the need and demand to learn beauty techniques. As a response, not only many beauty academies have been established but also many individuals are also providing educational services as well as beauty services. To meet the needs and provide more specialized and up-to-date beauty education, The firm launched its service in 2021. This final project is based on a qualitative research method, intends to formulate and propose a business strategy and business model for the success of the company as a new entrant to the market by analyzing the company’s external, internal environment and SWOT analysis, formulating business strategies through generic strategy, TOWS matrix, and strategy diamond.