INCREASING BRAND AWARENESS AND INTENTION TO USE POSPAY DIGITAL WALLET

• Main Author: Kurnia Dewi, Gessan
• Format: Theses
• Language: Indonesia
• Subjects: Manajemen umum
• Online Access: https://digilib.itb.ac.id/gdl/view/66827
• Institution: Institut Teknologi Bandung

The global industry is currently experiencing the digital era 4.0. Indonesia has been actively doing digitalization, marked by the increase in mobile connections and internet users. In 2020, more people were using mobile connections and the internet due to the spread of the COVID19 virus. Because of the pandemic, the Governor of Bank Indonesia encourages the public to transact using cashless payments. PT Pos Indonesia saw this as an opportunity to develop its business. Pos Indonesia created a digital-based payment service called “Pospay” to make transactions easier. Since its launch on 13th April 2021, Pospay has faced several challenges competing in the digital wallet industry. Based on the number of accounts (NOA), 98.5% of Pospay’s users are an employee of PT Pos Indonesia. It shows that Pospay's brand awareness and intention to use are still relatively low outside the company. Then, Pospay plans to increase its number of accounts to 5 million users and target a new target market of people between 1224 years old. This study aims to analyze the company’s external and internal environment to propose marketing strategies to increase brand awareness and intention to use Pospay. The external analysis was conducted using PESTEL, Porter’s Five Forces, competitor analysis and consumer analysis. Consumer analysis was carried out by distributing the questionnaires to the potential consumers. The results from the questionnaire were processed using the Smart PLS software using the SEM-PLS method to measure the correlation between the variables. The external analysis was done to find out the opportunities and threats for the company. Based on the analysis, the opportunities for Pospay are the business supported and in line with government programs and regulations, the decrease in card transactions, the increase of a cashless society, the growth of technology, the increase in paperless behavior, and trust by potential customers. Meanwhile, the threats for Pospay are threats of new entrants, threats from substitutes, the low switching cost of users and high competition in the digital wallet industry. The internal analysis was conducted using Resource-Based View, VRIN Framework, Existing Business Model Canvas and Marketing Mix 7P’s. The internal analysis was done to find out the strengths and weaknesses of the company. Based on the analysis, the strengths of Pospay are financially support from the government, offices spread almost all over Indonesia, and a strong partnership with the government. Then, the weaknesses of Pospay are no free transfer, can not top-up the balance at a minimart, can not be used in ride-hailing applications, no payment channels (transportation, event, attractions, entertainment), no discount and cashback merchant, no paid advertisement and the difficulty on opening the application. The internal and external analysis results are used to formulate SWOT analysis and then used as guidance to formulate the TOWS matrix. Then, this TOWS matrix is used to create a proposed marketing strategy. According to the analysis results, there are thirteen alternative strategies that the company can implement. But based on the company's resources and capabilities, not all of the strategies can be implemented in the near future. Three strategies are chosen based on the discussion with the company: using Instagram ads for digital marketing, collaborating with the popular merchants to offer discounts or cashback, and collaborating with education programs by the government such as scholarships to distribute the funding.