PROPOSED MARKETING STRATEGY TO IMPROVE ATTRACTIVENESS AND TO COMPETE WITH THE COMPETITOR FOR SARINAH SPECIALTY STORE

• Main Author: Alifiando Addikara, Muhammad
• Format: Theses
• Language: Indonesia
• Subjects: Manajemen umum
• Online Access: https://digilib.itb.ac.id/gdl/view/80815
• Institution: Institut Teknologi Bandung

Sarinah Specialty Store operates within the Sarinah Department Store, which is PT Sarinah, a subsidiary of the State-Owned Enterprise (BUMN) whose ownership is held by PT Aviasi Wisata Indonesia (Persero) and the Republic of Indonesia. Sarinah is Indonesia's first modern department store and has become an essential player in the retail and lifestyle sectors. Competition between Sarinah Specialty Store and its competitor, Alun Alun Indonesia, for the Jakarta market, is quite tight because of the extraordinary quality of Indonesian goods. Intense competition arises because all companies provide identical product categories, prices, and quality. The products offered include Batik, Crafts & Souvenirs, F&B (Cocoa, Coffee, Tea, and Snacks), and Other Goods (Accessories, Shoes, Bags, Beauty, and Wastra). To remain competitive in this rapidly changing market, it is essential to determine the distinctive characteristics of our products compared to our competitors. This includes understanding our strengths and evaluating our weaknesses to communicate the actual value of our offerings to consumers effectively. Sarinah Department Store attracted many visitors to enjoy the event, but this did not result in overcrowding at the specialty store. Further comprehensive studies are needed, primarily focusing on the domestic market, to find out what people like and what their triggers are, and to determine effective strategies for attracting consumers to the target market. This research will mainly investigate the factors that trigger local consumers to visit the Sarinah Specialty Store and subsequently motivate them to purchase. It will also analyze the factors that influence consumer behavior to increase the attractiveness of the Sarinah Specialty Store. This research also aims to develop a competitive strategy for batik and fashion products in the market. This research includes exploratory research that develops hypotheses and suggestions based on information collected and analyzed. This method is flexible and adaptable, adapted to the researcher's needs and the problem's complexity. In this research, exploratory research can uncover the underlying reasons behind consumer behavior observed in the Sarinah Specialty Store domestic market. It can help identify triggers of interest and engagement by analyzing data from websites, more precisely from Databoks. Databoks is essential because this research focuses on the domestic market, so it is necessary to know what factors currently interest Indonesians. Thus, the data collected in this research was from a survey of 120 participants and the Databoks web survey site. The primary and secondary data collected were then entered through a qualitative approach to reveal the factors that trigger store visits and the specific preferences of batik and fashion consumers. The research includes business exploration based on 4P Marketing Mix analysis (Product, Price, Place, Promotion), internal (VRIO, STP), industry (Porter's Five Forces), and external (Competitor Analysis and Consumer Insights). Using exploratory analysis from website data collecting consumer surveys, and SWOT analysis, the results show that Sarinah Specialty Store is facing significant problems. Primarily, the store lacks entertainment, limiting its offerings to product sales only. Even in the beauty segment with many product lines, Sarinah Specialty Store has been unable to maximize its potential. After further research, the author found that Indonesians also bring their families. Without entertainment, the experience becomes boring. Apart from that, this product segment outside of batik and fashion is not used as a shopping destination but rather as a souvenir. Apart from bringing their families, visitors who come to Sarinah Specialty Store are looking for office needs, including products from the batik and fashion segments, which have contributed well to Sarinah Specialty Store's sales performance. However, it is necessary to continue increasing its attractiveness according to the domestic market so that Sarinah Specialty Store can adapt to future market conditions. Based on this, the author recommends five marketing strategies to increase attractiveness and compete with competitors.