PROPOSED BUSINESS STRATEGY FOR SIDEJOB INDONESIA TO PENETRATE RETAIL MARKET

• Main Author: Pricillia, Maura
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/65731
• Institution: Institut Teknologi Bandung

The global market research services market is forecasted to increase at a compound annual growth rate (CAGR) of 5.3 percent from $71.86 billion in 2020 to $75.66 billion in 2021. The increase is primarily due to companies reorganizing their operations and recovering from the impact of COVID-19, which had originally resulted in restrictive containment measures which include social distancing, remote working, and the closure of commercial activities, all of which generated operational challenges. At a CAGR of 5%, the market is estimated to reach $90.79 billion in 2025. Online surveys were found to be the most common kind of quantitative research conducted globally, accounting for over 80% of all quantitative research. By the same poll, phone and face-to-face interviews accounted for 30% and 23% of all interviews, respectively. In 2022, one of SideJob’s OKRs is to enlarge the company even more by penetrating the retail market. In order to do that, the credibility of the company from the client’s point of view is important. SideJob is built with crowdsourcing services at first, in accordance with its name, it provides crowdsource projects which not take up much of SideJob’s workers' time. The services offered are already attached to the company's name as well as from the client's point of view. Aside from its name, there are other factors that cause the company's lack of credibility in the services offered, especially for market research. The lack of professional experts who have been proven through certification in their fields is one of the factors. This research's primary data collection is using qualitative research methods, while secondary data will be collected from internal reports, organization website, article, journals, and books. After the data collected, this research analyzes the internal and external environment of the company. Value Chain Analysis, Resource Based View, and the VRIO Framework, STP Analysis, the businesses' internal environments will be used to evaluate the tools that allow them to utilize its resources and analyze its strengths and weaknesses. PESTEL Analysis, Porter's Five Forces, and Competitor Analysis will be used to analyze opportunities and risks in the external environment.