PROPOSED MARKETING STRATEGY FOR INTERNATIONAL MARKET EXPANSION INTO INDONESIA IN THE FINTECH INDUSTRY: A CASE STUDY OF ASPIRE

• Main Author: Desanta, Eureka
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/81290
• Institution: Institut Teknologi Bandung

This study focuses on Aspire, an all-in-one finance operating system aimed at helping businesses pay, manage, and earn more efficiently. Its goal is to craft a go-to-market strategy for penetrating Indonesia's dynamic FinTech landscape and adapting its successful business model. The business issue is analyzed based on the existing conditions of Aspire, the market, stakeholder analysis, and the root cause-effect analysis. The research objectives encompass analyzing the current business situation in Indonesia's financial technology market, identifying influencing factors in the Indonesian market, and developing a go-to-market strategy for Aspire to expand its market in Indonesia. The literature review spans various topics including the Financial Technology Industry, Fintech Landscape in Indonesia, Fintech Adoption Trends, Factors Influencing Fintech Adoption, SME Fintech Adoption, Go-To-Market Strategies, and Fintech Go-To-Market Strategy. The conceptual framework is constructed based on a marketing strategy framework tailoring the Marketing Mix the 4Ps - Product, Price, Place, and Promotion. The research methodology employs both primary and secondary data sources. Primary data is collected through qualitative one-on-one interviews with 20 respondents across different organizational levels, and analysis is done using thematic analysis. This primary data is complemented by secondary data from literature, prior studies, and publicly available datasets, resulting in a comprehensive and diverse research approach. The primary data analysis suggests a growing demand for user-friendly and customized FinTech solutions, along with a preference for integrating with popular local payment methods such as QR codes and e-wallets. The strategy emphasizes offering cutting-edge financial solutions through these apps, targeting established SMEs and startups requiring international transaction capabilities. Aspire adopts a freemium pricing model accessible via its website, focusing on seamless integration with favored local payment options that resonate with Indonesian market preferences and behaviors. The go-to-market strategy entails digital marketing initiatives for heightened awareness, personalized account management to ensure top-notch service, and the implementation of loyalty programs to foster customer retention. This strategy aligns with the evolving demands of Indonesian SMEs, delivering efficient and specialized financial solutions tailored to their needs.