CUSTOMER RETENTION STRATEGY PLANNING FOR PERSONAFIC FOR MEN

• Main Author: Syarihna, Rezkita
• Format: Final Project
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/77849
• Institution: Institut Teknologi Bandung

Personafic for Men is a skincare brand that exclusively offers skincare products for men. Personafic was established in January 2022 with its target market being men aged 18-34 who have a special focus on their facial condition and are based in Indonesia. From transaction data, it can be observed that Personafic for Men's monthly customer retention rate (CRR) still falls below the average CRR in the retail industry (63%). One of Personafic's current objectives is to increase revenue, and this can be achieved through various means, one of which is managing existing customers. Therefore, the primary goal of this research is to design a proposal for customer retention strategies for Personafic for Men. Segmentation of existing customers of Personafic for Men is carried out using the recency, frequency, monetary method with the K-means++ algorithm to determine the characteristics of the most valuable customer segments. The purpose of this research model is to identify which variables influence the intention to repurchase skincare products in Personafic's target market. In this research model, based on the Theory of Planned Behavior (TPB), there are eight construct variables tested: service quality, delivery quality, product characteristics, perceived price, social media marketing, perceived value, customer satisfaction, and brand loyalty. Data collection is conducted through an online survey method using questionnaires distributed through beauty and body care-related discussion forums on several social media platforms. The primary data processing method used is partial least squares - structural equation modeling (PLS-SEM). Data processing results show that repurchase intention is influenced by five constructs: service quality, social media marketing, product characteristics, perceived value, and customer satisfaction. Three proposed customer retention strategies designed are utilizing social media to market product information that is easily accessible to customers, emphasizing product content information and the benefits of using Personafic products in marketing activities, and proving the credibility of the Personafic brand and products.