Project Overview
This project was the final assignment for the Marketing Policy and Strategy course, combining both group and individual tasks. The project's objective is to formulate a marketing strategy based on comprehensive analyses and written in the form of academic article.
Group Tasks:
Selected a business partner to analyze their issues and propose marketing strategies.
Conducted observations of the selected business.
Interviewed the business owner or reliable sources to identify issues based on specific metrics.
Analyzed the collected data using internal-based resources, VRIN framework, and TOWS analysis.
Individual Tasks:
After completing the group tasks, every students have to formulate a strategy based on the chosen marketing metrics.
Project Journey:
Selecting Marketing Metrics:
I chose 'Purchase Habits' as the metrics in this project. Purchase habits involve assessing marketing performance through the frequency and quantity of purchases within a specific timeframe.
Choosing the Business Partner, Research Object, and Issues:
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Business Partner: Nunu Leather, a leather-based fashion business located in Garut, operating since 2018.
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Research Object: Purchase habits of Nunu Leather's resellers.
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Issues:
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The frequency and quantity of purchases made by Nunu Leather's resellers do not meet the owner's targets.
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Only 55% of resellers are active buyers.
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Formulating Strategy
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Internal-Based Resources
Analyzed both tangible and intangible internal resources to identify what resources the company currently possesses and those it lacks.
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VRIN Framework
Compared internal resources with competitors based on four aspects: valuable, rare, inimitable, non-substitutable. Resources possessing all four aspects are categorized as Sustainable Competitive Advantage (SCA).
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TOWS Analysis
Used to identify external threats and opportunities, as well as internal strengths and weaknesses. The output helps determine which aspects have a high level of handling urgency.
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Alignment with Business Issues
The aspects with the highest alignment with business issues are then selected for a proposed program.
Proposed Program
A customer-tier program through a membership system is proposed as a strategy to retain Nunu Leather's resellers while increasing purchase frequency and quantity.
The membership program will group resellers based on their purchasing capacity and desired benefits. Resellers will be segmented into various tiers starting from Bronze, Silver, Gold, to Platinum.
Impact
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Although not immediately implemented, this strategy proposal can be considered by Nunu Leather in the future as an effort to retain resellers.
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The written format of this project has been successfully published in the Sinta 3 accredited journal (Jurnal Ilmiah Ekonomi dan Bisnis Unilak), providing recognition for the research's academic value.