PROPOSED STRATEGIES FOR FLUFFY FELLAS STUDIO TO IMPROVE BUSINESS PERFORMANCE

• Main Author: Oktira Diyanti, Ayu
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/65727
• Institution: Institut Teknologi Bandung

Covid-19 pandemic is having a huge impact on humanity. It is very unlikely that the business owner will include the possibility of a pandemic in their business development planning scenario. Both the business owner and customers have to adapt in doing business activity, to face the challenge of shifting purchasing behavior caused by the decreasing expenditure due to the Covid-19 pandemic. Customers prefer shops online, and allocate their budget to necessary spending, since there are restrictions of mobility which forces them to do most of the activities such as school and work from home. Based on a random sampling survey, the respondents want to improve their quality of life at home. Home & living are becoming one of the categories that shows a multiple increase in registered sellers (supply) and the number of sales (demand), compared to pre-pandemic situations. Fluffy Fellas is one of the home and living businesses that experienced growth during a pandemic. Due to the increase in order quantity in the short period of time, it has a lack of resources to fulfill the demand. As a result, they lost their Star Seller title and got bad performance on the marketplace. The increase in the number of unique visitors also not followed by an increase in retention and conversions rate, which actually decreased for the past few months. Due to the business insight, Fluffy Fellas Studio needs to collect and analyze the data from the business environment for the performance improvement of the company. To explore the business issue, the primary data will be collected through a qualitative interview with Fluffy Fellas Studio’s internal team, home and living key opinion leader, also home and living business owner. The quantitative method is conducted through questionnaires to random samplings about their life before, during, and after Covid-19 Pandemic. Secondary data will be collected through literature and article review related to Covid-19 pandemic purchasing behavior, home and living business situation in the global and national market, supply chain management for SMEs, product development and innovation, and marketing strategy. The internal analysis will be conducted through determining resources, core competencies, capabilities to be assessed through VRIO framework, 7P marketing mix, value proposition analysis, and business model canvas. The external analysis will be conducted through the assessment of Porter’s Five Forces Model, competitor analysis, consumer analysis, and customer journey. The data collection and analysis are generating SWOT of Fluffy Fellas Studio, which will be elaborated becoming TOWS Matrix to find the root cause of the business issue. It can be concluded that the root causes are the supply chain, product development, and the optimization of digital marketing. The alternative solutions for each root cause are suggested through evaluating and combining the key takeaway from each strategy generated through TOWS matrix. The implementation plan will be for the next 2 years.