PROPOSED MARKETING STRATEGY TO INCREASE ANTAM’S DOMESTIC GOLD BAR MARKET SHARE

• Main Author: Eryo Pratama, Betri
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/68328
• Institution: Institut Teknologi Bandung

The Indonesian gold market is estimated to have grown in 2020, 80% of which is still dominated by downstream businesses. The gold market in Indonesia cannot be separated from the influence of the world gold market. Various strategic issues affect the supply and demand for gold production in Indonesia. PT Antam Tbk Logam Mulia Business Unit (Antam LM) plays its role as a refinery (manufacturer) and distributes gold directly to consumers (as retailers) and to wholesale buyers as one of its sales channels (as distributors). Antam LM has become the highest market share among the gold bar industry in Indonesia. Antam LM experienced the decreasing of market share from 79,76% in 2019 and become 74.77% in 2020. Antam needs to strategize how to maintain the market share and increase the revenue from the sales of gold bar especially. This research is conducted by utilizing both primary and secondary data to determine the strategy to increase Antam’s domestic gold bar market share. Qualitative research is used as the source of primary data by using in-depth-interview method in which 10 interviewees is subjected as respondents. While some quantitative data is sourced from report of previous research, sales data and market analysis. Business environmental analysis is conducted to identify all of the external and internal factors that can affect a company's performance. PESTEL, Porter’s 5 Forces and Competitor Analysis are used to analyze external factor. While to analyze internal factor, VRIO analysis is used on this research. SWOT analysis gives the resume of current condition of company. From the results of the analysis that has been carried out, some factors found to become the cause of market share’s declining: limited number of Butik Emas LM, digital platform that is still not user friendly (there is still no mobile apps), limitation of time transaction in online platform, and intense competition especially in digital gold market. Using Ansoff Matrix, Market Development is chosen as the marketing strategy after analyzing the internal and external factor of company. The strategies are then broken down into 2 (two) keys initiatives: (1) expansion the distribution channel, and (2) omnichannel development. To make the application of business strategy measurable and directed, an implementation plan has been arranged to be started on Q3 2022 and will be ended on 2024.