PROPOSED MARKETING STRATEGY FOR CICIL EMAS MULIA AT PT PEGADAIAN

• Main Author: Sulaiman, Ibnu
• Format: Theses
• Language: Indonesia
• Subjects: Manajemen umum
• Online Access: https://digilib.itb.ac.id/gdl/view/80032
• Institution: Institut Teknologi Bandung

This research is conducted to address issues occurring at PT Pegadaian. The first chapter explains how Cicil Emas Mulia by Pegadaian, as a financing product, faces challenges related to the realization of its sales targets. The sales realization of Cicil Emas Mulia fluctuates from year to year. Pegadaian gold installment product sales should also have increased in line with the development of investment preferences. In fact, until September 2023, it is still far below the annual target and the gap between realization and target is very far at 61%. This gap between sales target and actual realization needs immediate attention as a critical business issue. In the second chapter, the discussion revolves around the literature review, encompassing the theoretical foundation and conceptual framework related to problem resolution. In the third chapter, the explanation focused on how the research methodology was conducted, including the development of the research design, methods of data collection, and data analysis. Primary data was collected qualitatively for the analysis of STP, Marketing Mix, Resources, and Value Chain Activities, and quantitatively for Consumer Analysis through a survey questionnaire. Meanwhile, secondary data was collected qualitatively for the analysis of PESTLE, Competitor Analysis, and Industry Analysis. Data analysis was carried out using the Normality Test and Mean Difference Test with SPSS, while the validity test, reliability test, and path analysis were conducted using SmartPLS. In the fourth chapter, two-way analysis encompasses both external and internal dimensions to gain a comprehensive understanding of the factors contributing to the problem. The external analysis will utilize the PESTLE to evaluate macroenvironmental factors, competitor analysis to gauge market dynamics, consumer analysis to explore consumer behavior, and industry analysis to evaluate how much the industry condition poses a threat to the company. Simultaneously, the internal analysis will include an assessment of segmentation, targeting, and positioning (STP) strategies, current marketing mix, resources, and value chain analysis. As a result, PESTLE Analysis highlights the stable political climate, economic opportunities driven by an expanding middle class, cultural significance favoring gold, technological advancements in e-commerce and fintech, strengthened consumer protection and AML/KYC regulations, and the growing environmental awareness influencing gold investment decisions. The competitor analysis assesses challenges from BSI and BCA Syariah in the Sharia-compliant gold installment sector and recognizes Pluang as a significant player in online gold investment. BSI and BCA Syariah emphasize Sharia principles, competitive pricing, and accessible financing options, while Pluang innovatively offers fractional gold ownership through a user-friendly digital platform, prioritizing transparency and convenience. The consumer analysis examines factors influencing the intention to invest in Cicil Emas Pegadaian, with a focus on demographics, income distribution, investment frequency, and preferred channels. The SEM-PLS path analysis reveals that attitude is significantly influenced by price, promotion, return variables, and influencing the intention to invest, while ease of mechanism, risk, and security variables do not meet the acceptance criteria for influencing consumer attitude. The gold investment industry analysis reveals a moderate threat of new entrants due to stringent regulations, countered by strategic measures. Pegadaian faces low supplier bargaining power, moderate buyer influence, high substitute threat, and intense competitive rivalry, prompting strategic actions to reinforce its position, including brand emphasis, customer-centric approaches, and innovative product development. Pegadaian Cicil Emas targets Family-Oriented housewives valuing security and tradition and Ambitious Executives seeking long-term wealth. Positioned as a secure and accessible gold investment, it emphasizes tangible ownership, affordability, and long-term wealth growth, leveraging Pegadaian's trusted name for diverse customer preferences. In the context of the marketing mix, Pegadaian's Cicil Emas offers gold installment plans with diverse product options, competitive pricing, and an upcoming digital gold savings option. Emphasizing a comprehensive promotional strategy, a customer-centric workforce, streamlined application processes, and tangible physical evidence to enhance customer confidence and satisfaction. Pegadaian strategically manages tangible resources, including financial budgets, external and internal influencers, and TV commercial models, to enhance marketing capabilities for Cicil Emas. Intangible resources, such as expertise in the Marketing Division, a developing CRM system, data analytics capabilities, and the strong brand reputation of Pegadaian, further fortify its market position and customer-centric strategies. Pegadaian's value chain activities for Cicil Emas encompass strategic management of inbound logistics, efficient operations, secure outbound logistics, comprehensive sales and marketing efforts, customer-centric service delivery, and a quality-oriented profit margin approach. Additionally, the company emphasizes innovation in product R&D and technology, invests in human resources management for a skilled workforce, and ensures effective general administration to maintain financial stability and regulatory compliance. The external analysis produces the opportunities and threats that may impact the operation. The internal analysis produces the strengths and weaknesses of Cicil Emas Pegadaian. These insights were beneficial for conducting the SWOT analysis which was utilized to produce strategies through the TOWS matrix. The produced strategies combined into three main proposed strategies alongside the actionable programs for the implementation plan by describing the PIC, KPI, action plan, resources, and implementation timeline. The three main proposed strategies are Digital Ecosystem for Financial Empowerment, Secure Gold and Sustainable Future, and Navigating Sharia-compliant Options.