BUSINESS GROWTH STRATEGY OF A PERSONAL CARE BRAND USING VMOSA AND THREE HORIZON MODEL (A CASE OF EVENING)

• Main Author: Rifa Mufida, Luqyana
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/76615
• Institution: Institut Teknologi Bandung

Evening, a personal care brand focused on mindful living, faces challenges in innovating new products after the success of their Aromatherapy Eye Pillow. Despite a loyal customer base, recent product introductions like Scented Candles and Soap Bar have not gained significant traction. Concerned about the product life cycle, Evening seeks a business strategy to sustain growth and profitability. The research aims to develop a roadmap for managing current and future growth opportunities.Data was collected using RBV, Value Chain, PESTLE, and Porter 5 Forces Tool Analysis. Results were analyzed using the VMOSA framework, guiding the creation of a vision and mission statement. Objectives, strategy, and action plans were then aligned using the Three Horizon Model. This integration enables businesses to balance current operations with future growth, fostering innovation and resource optimization while aligning with long-term objectives. Evening''s analysis reveals the need to explore new business opportunities. The Three Horizon Model suggests innovation for a sustainable future as the current model becomes less effective. To attract customers seeking research-backed offerings, Evening must go beyond small-batch products. Considering the oversaturated skincare industry, a new venture focusing on social community and inclusivity is vital for long-term success.Evening can innovate in three key areas. First, by creating products and experiences that cater to shared wellness activities, embracing slow beauty and slow living. Second, by incorporating multisensory integration to enhance well-being outcomes for consumers. Lastly, by embracing personalization and technology, leveraging AI-driven solutions. To implement the growth strategy, Evening should recruit a business partner, collaborate with a marketing agency, and create a portfolio of new business ideas.