PROPOSED BUSINESS STRATEGY TO INCREASE COMPETITIVENESS OF GENTA GUITAR
Music has long played a crucial role in people’s lives, influencing emotions, transforming perspectives, and inspiring change. This importance has driven increased public interest in the music industry, pushing companies to provide highquality products to meet market demands. Among musical instrumen...
Saved in:
| Main Author: | |
|---|---|
| Format: | Theses |
| Language: | Indonesia |
| Subjects: | |
| Online Access: | https://digilib.itb.ac.id/gdl/view/87191 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| Institution: | Institut Teknologi Bandung |
| Language: | Indonesia |
| Summary: | Music has long played a crucial role in people’s lives, influencing emotions, transforming perspectives, and inspiring change. This importance has driven increased public interest in the music industry, pushing companies to provide highquality products to meet market demands. Among musical instruments, the acoustic guitar remains highly favored, especially by younger generations, due to its affordability, portability, and versatility in solo and group performances. In Indonesia, the production of string instruments has shown significant growth, with revenue rising from USD 8.07 million in 2017 to an estimated USD 87.79 million by 2029, driven by economic growth, rising disposable income, and increasing interest in music education.
Despite these positive market trends, Genta Guitar's sales performance from 2020 to 2023 reveals a critical issue: although annual sales have improved since 2021, the company has consistently failed to meet its sales targets. This highlights a strategic gap that needs to be addressed to improve competitiveness in the local market. The objective of this research is to analyze Genta Guitar's current business environment, evaluate its growth potential, and develop a business strategy to secure a competitive advantage in the Indonesian guitar market.
This study adopts a conceptual framework that integrates internal and external analysis tools. Internal analysis is conducted using the Value Chain Analysis and VRIO Framework to evaluate Genta Guitar's resources and capabilities. External analysis applies PESTEL Analysis, Porter’s Five Forces, and Competitor Analysis to assess the macro and micro factors impacting competitiveness. The findings are synthesized into a SWOT Analysis and further refined using the TOWS Matrix to formulate appropriate strategies.In conclusion, this research suggests that implementing these strategic recommendations can help Genta Guitar close its strategic gaps, strengthen its competitiveness, and achieve sustainable business growth in Indonesia’s rapidly evolving guitar market.
|
|---|