BUSINESS STRATEGY FORMULATION FOR SALES AND MARKETING SOUTHGATE APARTMENT

• Main Author: Lindawaty
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/74318
• Institution: Institut Teknologi Bandung

Over the past five years, the apartment market in Indonesia has experienced a decline in demand, evidenced by decreasing sales, stagnant take-up rates, unchanged apartment asking prices, and a limited number of new apartment projects. Southgate Apartment, a superblock complex developed by Sinar Mas Land in Tanjung Barat, South Jakarta, has also been affected by this trend. This paper proposes a business strategy formulation for sales and marketing at Southgate Apartment with the objective of revitalizing and developing a promotional effort to achieve their sales targets, which have been falling short of expectations. The initial phase of the paper is intended to gather information, do research, and conduct internal and external analyses utilizing various analytical tools like PESTEL analysis, STP analysis, Marketing Mix – 4P analysis, and 3C analysis to thoroughly examine the gathered information. The outcomes of these analyses will be merged to form a SWOT analysis. As part of the business solution, the writer will use the TOWS matrix as tools to perform strategic alternatives, as it enables organizations to pinpoint areas for enhancement, utilize opportunities, and lighten potential threats. The paper concludes by presenting nine strategic initiatives, with three of them being prioritized as low-hanging fruit that can be implemented within two months of the project initiation period. These initiatives include tailoring the messages to suit each market segment's product unique selling proposition and adding emotional benefits to the messages, hiring a new promotion team with digital marketing capabilities, and developing a special promotion for studio units that contribute the most to the stock. The writer anticipates that this business formulation can help Southgate Apartment to achieve sales targets by the end of 2023.