PROPOSED BUSINESS STRATEGY TO INCREASE PROFITABILITY, CASE STUDY: MAJAFRESHINDO GREEN FARM
Hydroponics is a new way of farming that utilizes nutrient-rich water instead of soil and offers efficient year-round plant cultivation in limited spaces. This method consumes up to 90% less water than traditional farming and reduces the need for chemical pesticides, presenting a viable solution for...
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| Format: | Theses |
| Language: | Indonesia |
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| Online Access: | https://digilib.itb.ac.id/gdl/view/87227 |
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| Institution: | Institut Teknologi Bandung |
| Language: | Indonesia |
| Summary: | Hydroponics is a new way of farming that utilizes nutrient-rich water instead of soil and offers efficient year-round plant cultivation in limited spaces. This method consumes up to 90% less water than traditional farming and reduces the need for chemical pesticides, presenting a viable solution for urbanization, climate change, and the demand for healthy food. Majafreshindo Green Farm, a hydroponic agribusiness based in Majalengka, West Java, faces challenges like customer dependence, and operational inefficiencies, which impact profitability.
Using a qualitative approach, including observation and interviews, the researcher conducted external analysis with PETSEL, Porter's Five Forces, and competitor analysis, to find the opportunities and threats, alongside internal strengths and weaknesses through Business Model Canvas, Porter value chain analysis, and VRIN analysis. These insights inform a comprehensive SWOT analysis. The proposed business strategy formulation is analyzed by IE matrix, TOWS analysis, and Porter Generic Business level strategy.
Strategic recommendations from the SWOT analysis suggest market expansion through B2B channels, new product development such as hydroponic kits and agritourism, and investing in technology to boost production efficiency. The Internal-External (IE) Matrix positions Majafresh in the growth quadrant, advocating for broadening educational products and strategic partnerships. The TOWS matrix underscores enhancing technological integration and marketing, customer base diversification, and improving disaster resilience. Porter’s Generic Strategy recommends a focused differentiation approach, emphasizing highquality, pesticide-free products and robust local sourcing to meet market-specific demands.
To enhance competitiveness, Majafreshindo should increase brand awareness through digital marketing and participation in SME bazaars, improve customer database management and retention strategies, and explore alternative revenue streams within their greenhouse operations. Operational savings could be achieved by monitoring planting media, regular R&D, quality control, and investing in technology to optimize efficiency and productivity. These strategies aim to establish Majafreshindo as a leader in hydroponic agriculture, fostering sustainable growth and long-term partnerships.
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