BRAND IDENTITY FORMULATION AND NEW BUSINESS STRATEGY FOR WIPS BY RCKWE

• Main Author: Arsyanda, Seasha
• Format: Final Project
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/78616
• Institution: Institut Teknologi Bandung

The potential of creative industry is a core priority of Indonesian government in recent years. From the government viewpoint, this creative industries sector’s potential is appealing not only for the potential revenues it could achieve, but also for supporting a valuable path for young people’s entrepreneurship. Over 14 creative industries’ subsector in Indonesia, fashion occupies the second biggest growth with 7.12% of export growth rate. Based on that fact, there is a good opportunity for WIPS by RCKWE, a fashion-based company which offers woman footwear to be involved in this industry. WIPS by RCKWE has been established since May 2015 in Bandung, Indonesia. However, WIPS still has low brand awareness that lead this business into dissatisfaction on sales. Moreover, with many players within the industry may bring this business into disadvantages; as the market place gets crowded, so the prospect for profits and growth reduce. WIPS by RCKWE is facing a very high competition in the existing market space. To grab some significant market share, the owners of WIPS by RCKWE have to take a deep understand on how to build a strong brand identity and formulate intensive strategy for growing. Concerning those issues, the author needs internal and external business exploration to formulate the brand identity of WIPS by RCKWE. Internal exploration is done by using Value Proposition Design, Business Model Analysis, and Value Chain Analysis. External exploration is done by using Competitor Analysis and Porter Five’s Forces. Business exploration result is generated to formulate the brand identity by using Kapferer Brand Identity Prism. After the brand identity is built, the author conducts brand image observation to know the gaps between the brand identity that is built by the company and the brand image that is perceived by customers. Formulation strategy is generated after putting every aspect into consideration; it will be exposed in TOWS Strategy and proposed Marketing Mix.