SCENARIO PLANNING TO DEVELOP BUSINESS EXPANSION STRATEGIES IN THE SKINCARE INDUSTRY AT PT. DALEA KREASI NADISANTI
The Indonesian skincare market has experienced growth in the past two years, driven by a large proportion of young females. The number of cosmetics companies in the country has also increased by 20.6%, with small and medium enterprises (SMEs) accounting for 83% of the industry. It is expected that t...
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| Format: | Theses |
| Language: | Indonesia |
| Online Access: | https://digilib.itb.ac.id/gdl/view/71659 |
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| Institution: | Institut Teknologi Bandung |
| Language: | Indonesia |
| Summary: | The Indonesian skincare market has experienced growth in the past two years, driven by a large proportion of young females. The number of cosmetics companies in the country has also increased by 20.6%, with small and medium enterprises (SMEs) accounting for 83% of the industry. It is expected that the Indonesian skincare market will continue to grow at a compound annual growth rate (CAGR) of 8.9% from 2021 to 2026, reaching IDR 38.4 trillion ($2.5 billion). PT DKN aims to increase its market share and profitability through product diversification and plans to enter the skincare market as a new business unit. A future assessment is necessary to better understand the various possibilities and uncertainties of the business environment. This study aims to develop business expansion strategy using scenario planning in the skincare industry at PT DKN through the use of the five stages of Garvin and Levesque and qualitative research with 10 respondents of diverse profiles determined through stakeholder mapping. Primary data was collected through interviews and analyzed using a scenario framework. The results show that the driving forces of the skincare industry are influenced by two critical uncertainties: demand and technology. The study provides conclusions on scenarios for dealing with future uncertainties and their implementation. To succeed in the skincare industry, companies must understand and adapt to consumer needs, create high-quality products, and have effective marketing strategies to increase market share. Future research could include studying the potential profit and market share of PT DKN in the skincare industry and analyzing competitors and suppliers to inform business strategies. |
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