PROPOSED MARKETING STRATEGY FOR OPENING A NEW RETAIL BUSINESS AT MEN'S FASHION INDUSTRY (CASE STUDY: SHAFA MARWAH WHOLESALE BUSINESS)

• Main Author: Sukmajaya Rizky, Suci
• Format: Theses
• Language: Indonesia
• Subjects: Manajemen umum
• Online Access: https://digilib.itb.ac.id/gdl/view/79538
• Institution: Institut Teknologi Bandung

Shafa Marwah's revenue increased in 2019 compared to 2018, but after 2019, Shafa Marwah's revenue always decreased until 2022 with an average decrease of IDR 6 billion each year. In addition to declining revenue, Shafa Marwah lost many customers as a result of the Covid-19 pandemic. Many street vendors have gone out of business as a result of the Covid-19 pandemic, reducing Shafa Marwah's income significantly. The decline in Shafa Marwah's revenue is predicted not only because of the Covid-19 pandemic but also because the business model has not been improved for 19 years. Adding distribution channels from Shafa Marwah to the final customer is one strategy that can be implemented. The findings of this research will be utilized to establish whether Shafa Marwah's plan of expanding distribution channels by opening a retail business can be adopted to increase revenue. An internal analysis revealed several factors conducive to Shafa Marwah's establishment of a new retail business distribution channel for the men's fashion industry in Surabaya such as marketing mix, indicating that the product, place, and promotion variables can enhance target customer purchase intention through customer attitude as a mediating variable, particularly for the place variable. Shafa Marwah possesses various resources that can facilitate the success of its new retail business, including financial resources, transportation and other owned assets, the owner's educational background and experience, the brand image of the wholesale business, and the wholesale business's positive relationships with suppliers, customers, and government entities. An external analysis identified several opportunities that Shafa Marwah can leverage to expand its wholesale business and apply to its retail business. These opportunities include favorable political factors and emerging fashion trends in Surabaya. Furthermore, the presence of competitors serves as evidence of the existence and addressable nature of the target market for Shafa Marwah's new business. The customer analysis validation process resulted in the acceptance of four hypotheses and the rejection of one hypothesis. Employing SEM-PLS analysis on survey data collected from the target market, the findings reveal that three factors from the marketing mix, namely product, place, and promotion, significantly influence purchase intention.