The Indonesian Journal of Business Administration
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PROPOSED STRATEGY TO OPTIMIZE DIGITAL MARKETING ACTIVITY FOR THE BUYER’S JOURNEY OF VEMA ID
No full textThe growth in the number of companies operating in Indonesia will always increase every year. To run its business on a daily basis, a company will not be separated from the use of the company's fixed assets. The more of fixed assets of the company used, the greater the work to manage all these fixed assets. Vema ID as a business-to-business (B2B) company that provides barcode-based software named VemaFATS and barcode equipment to help companies manage the company's fixed assets has decreased the number of clients by 82.75% from 29 clients in 2019 to 5 clients in 2020. Apart from knowing the internal and external factors of Vema ID, this research also intends to find out the buying process that is passed by Vema ID and its client’s company which is very time consuming and involves many specific positions within the company. To find out who is involved in the decision-making unit and how the client goes through several stages in the buyer’s journey framework during the buying process, the author uses a qualitative method in the form of interviews with 5 Vema ID clients. From the interview, it is known that each company of the client involves at least 3 people in his company to carry out the buying process. Also, in going through several stages of the buyer's journey, all interviewed clients found VemaFATS through Google and in the interview, it was also known that all of them were looking for other alternatives when taking decision. One of the interview clients reveal that the information about the products provided by Vema ID on the VemaFATS website was somehow lacking. The author proposes several strategies to optimize digital marketing activities that must be carried out along several stages in the buyer's journey. To optimize digital marketing activities in the awareness stage, Vema ID needs to do Search Engine Optimization by Google AdSense and YOAST Subscription. To optimize digital marketing activities from the consideration stage until the decision stage, Vema ID can provide beneficial articles on the website, then create a communication medium on the website and by providing complete information about products and services on the website. Lastly, to optimize digital marketing activities in all stages of the buyer's journey, Vema ID can do social media activation. Keywords: Fixed asset, software, the buyer’s journey, the decision-making unit, Vema ID, VemaFAT
ANALYSIS OF CASH CONVERSION CYCLE TO COMPANY LIQUIDITY & WORKING CAPITAL (A CASE STUDY OF PT. GISTEX TEXTILE INDONESIA)
No full textIndonesia textile industry in 2019 is under pressure due to the large number of imports entering the local market, which makes industrial sales depressed that had Impacted on the performance and growth of the textile declining. PT. Gistex, a company engaged in the textile industry, is also experiencing the same pressure as the industry. The company's had a poor performance reflected in the Cash Conversion Cycle Indicator, which is getting higher each period and the value of liquidity is decreasing. Cash Conversion Cycle should be a concern for the company, namely improving company performance and improving shareholder welfare. So it is important to find an improvement in the Cash Conversion Cycle for PT. Gistex so as to improve the welfare of the owner. The analysis is carried out to obtain an indicator of the target improvement for the company, namely by forecasting for 5 years with various different scenarios and adjusting to market conditions. Industry cash conversion cycle benchmarks are also important, benchmark uses a population of listed companies on the stock exchange. The issuer's data and performance are looking for the Cash Conversion Cycle turnover rate for various aspects such as Receivable Turnover, Inventory Turnover and Payable Turnover. As a reference, the company must improve, namely receivable turnover and inventory turnover. The improvement in terms of receivables and inventory turnover aspects based on industry performance will be used as a reference for companies in determining their business and management strategy. The results obtained after using these references are that the company can improve its profitability and liquidity performance. Important for PT. Gistex to increase the cash conversion cycle so as to increase the shareholders welfare, the company must control, manage and monitor the driving factors of the cash conversion cycle.Keyword: Cash Conversion Cycle, Receivable Turnover, Inventory Turnover, Shareholder Wealt
MARKETING STRATEGY TO INCREASE PURCHASE INTENTION; THE IMPACT OF INFLUENCER MARKETING ON PURCHASE INTENTION
No full textIndonesia’s leather industry has been one of the prominent sectors and is contributing significantly to the country’s economy, as Directorate General of National Export Development Ministry of Trade of The Republic of Indonesia, Leather industry in Indonesia is one of the biggest sectors which support Indonesian economy. Promotion in various ways, including influencer marketing as a relevant way of word of mouth for Architara leather goods has to boost its profitability as a newcomer in the industry. The technological advancement has enabled electronic word of mouth, in which this the result reveals that Attractiveness, Credibility, and Product Congruence influences purchase intention.The conceptual framework of this research is consistent with the analysis of internal and external environments of the business. Internal business analyse marketing mix and STP whereas external analysis observes PESTEL, competitor, as well as conduct a market research discussing influencer marketing. The influencer marketing are divided into variables; Attractiveness, Credibility, Product Congruence, and Purchase Intention.Keywords : Influencer Marketing, Attractiveness, Credibility, Product Congruence, Purchase Intentio
PROPOSED MARKETING STRATEGY TO DEPARTMENT OF CULTURAL AND TOURISM TO PROMOTE HALAL TOURISM DESTINATION (STUDY CASE: BANDUNG CITY)
No full textThe development of the world’s Muslim population contributes to the growing amount of Muslim tourists around the world. The Muslim market for travelers is expected to have up to US$ 330 billion in total expenditure by 2026. Indonesia, as the most populous Muslim country, has established 16 halal tourism destinations around the nation to welcome the Muslim tourists. Bandung offers to be apart of the halal tourism destination as an attempt to attract the profitable market segment. This study seeks to figure out What Bandung should to do to support its destination for halal tourism.The findings of external and internal assessment show that Bandung’s power, as halal tourism destination, is the Muslim people, Perda supporting Muslim tourists services and Bandung’s local sights. Halal tourism as an extended service, however, requires not only the government support but also all the stakeholders within the sector.The result indicates that Bandung as a halal tourism destination can make maximum use of the prosperous industry by identifying the suitable STP, Marketing Mix Strategy as well as the timetable for its suggested strategies and budget prediction.Keywords: Muslim tourists, halal tourism, Bandung, marketing strategy
FINANCIAL FEASIBILITY STUDY OF PRINTING PLANT PROJECT (CASE STUDY OF RA PLANNER BOOKSTORE) Financial Feasibility Study of Printing Plant Project (Case Study of RA Planner Bookstore)
No full textRA Planner is a publisher company that create and publish printing product. In 2018 with high demand RA Planner successfully printed planner book as much as 23,000 planner books and sold out With the analysis of the printing industry that is still experiencing growth and sales growth which is increasing every year, owner RA Planner is interested to do a plan to make a printing plant independently. Before starting the project, financial feasibility study must be conducted to discover the profitability of the project and the risk that could occur during the business operation. This study will use Discounted Cash Flow (DCF) model and its parameters for analyzing project’s profitability, Net Present Value (NPV), Internal Rate of Return (IRR), Payback Period (PP), and Profitability Index (PI). In order to develop DFC model, author made free cash flow projections using FCFF approach. The financial model was based on many assumptions which are obtained from several perspectives and approaches. Risk analysis conducted using sensitivity analysis, scenario analysis, and Monte Carlo analysis. According to the financial feasibility study, the Net Present Value derived from the calculation is 23,120,867,265 which is higher than IDR 0; the Internal Rate of Return is 18.55% higher than the Cost of Equity 15.88%; the Payback Period is 6 Profitability Index from this project is 1.97 which is higher than the criterion must be higher than 1. It can be inferred from those four criteria that these projects are financially feasible.Keywords: Financial Feasibility Study, Investment, Printing Industry, Journal, DCF, Free Cash Flow
Proposed Marketing Strategy for Music Through Digital Streaming Music Recommendation System for Independent Musician (Case Study: Ping Pong Club)
No full textThe new face of modern music industry has followed the global trend on digitalizing music consumption through the invention of music streaming apps, or known as the digital streaming platform. While the DSPs are using the preference base algorithm for their consumers to stream the kind of songs they like, indie musicians are mostly benefitted from the algorithm. The challenge for indie musicians is on how to market their music through managing this preference base algorithm in the DSPs. This journal is a result of experimentation held with author’s music project called Ping Pong Club. A set of experimentation is done by using some of their tracks in order to show the boosted streaming numbers between the ‘treated’ songs and the ‘untreated’ one, along with the explained details from which streaming sectors matters. An implementation plan and strategy is applied to show how managing the preference base algorithm works on increasing the digital streaming sales. Keywords: Music Industry, Digital Streamin
CREATING A CORPORATE CULTURE TO ENHANCE PRODUCTIVITY AT PT DIRGANTARA INDONESIA (PERSERO)
No full textPT Dirgantara Indonesia (PTDI), has been capable in producing and selling the aircrafts, helicopters, weapon system, missile, dan maintenance to other countries. Shortly, PTDI has become one of big companies in Asia Pacific, specializing in medium and lighter aircrafts manufacturing and business. PTDI has not yet owned corporate culture containing belief, value, and behavior as the guidance for the employee how they work around here in achieving the target. Therefore, to enhance the productivity leading to high performance, the company must fulfil one of requirements i.e creating corporate culture containing beliefs, value and behavior standard as the guidance for employee. The first step to formulate, an analysis has been conducted to see the recent potention in business by using SWOT Analysis and distributing Questionnaire to collect and analyze data regarding employee opinion of existing value (das Sein) and expected value (das Sollen), and their gaps. By using the value gap, it has been found unrequired value (negative values) and new expected value to be formulated as corporate value consisting of operating, primary value and core value, as the material of making corporate culture. Keyword: Aircraft Business, Productivity, SWOT Analysis, Questionnaire Anaysis,Corporate Culture, Operating Value, and Core Value
Proposed Marketing Strategy for Truck Coffee Shop in Bandung (Study Case: Ideologi Kopi)
No full textTruck Coffee Shop business is one of the business that nowadays have a lot of interest, which can be seen with many truck coffee shops that have recently appeared. The huge number of coffee lovers and lifestyle also supported this phenomenon for people who love to hang out after activities with friends or colleagues. One of the players in the coffee shop business is Ideologi Kopi. In order to become a truck coffee shop, the owner uses his own VW cart. Ideologi Kopi creates a comfy retro atmosphere as a truck coffee shop with a comfortable retro concept that makes customers feel like their own car in the mall side area. Until recently, the majority of loyal customers of Ideologi Kopi are from the relation of the owner knowledge. Ideologi Kopi must increase their market share with the large number of competitors in this industry and get new loyal customers to sustain the business for a long time. Author is using elements from marketing strategy to identify some of the necessary factor and it was discovered on the basis of external analysis that this industry has intense competition. Competitor comes mainly from truck coffee shop, who normally just a conventional coffee shops, because they wanted to follow for a trend. In addition, from an internal point of view, Ideologi Kopi also mostly relies only on Instagram without another promotional program. Ideologi Kopi has several limited installation problems with the use of its own VW cart. SWOT analysis was then obtained from internal and external analysis of factors in Ideologi Kopi. If Ideologi Kopi is not yet optimal for looking for new customers and retaining it, then it can be found from SWOT analysis. Several important matters have also been found from competitor and customer analysis that feel important and can be further enhanced by Ideologi Kopi. The author also suggested several elements of alternative marketing strategies from the matrix TOWS analysis; Segmentation, Targeting, and Positioning (STP) for the business, including within are Points of Parity (PoP), Points of Difference (PoD) to know its value in terms of Value Proposition alongside proposed Marketing Mix with a 7P’s also a support operation strategy, hoping that Ideologi Kopi can implement. These alternatives enhance promotion by representing several strong points on Ideologi Kopi and social media ad placement, collaborating with social media influencers, developing loyalty program and product promotion, and improving Ideologi Kopi facilities.Keywords: Truck Coffee Shop, Alternative Solutions, Marketing Strategy, Promotion, SWOT analysi
Proposed Marketing Strategy to Increase Foreign Surfers Intention to Visit Ciletuh-Palabuhanratu Unesco Global Geopark
No full textCiletuh-Palabuhanratu UNESCO Global Geopark (CPUGGp) is the first West Java Geopark located in Sukabumi Regency, and received UNESCO Global Geopark status in 2018. As a tourist spot, CPUGGp provides three geoparks that attract tourists, such as: earth diversity, biodiversity, and cultural diversity. Although CPUGGp had the highest number of visitors in 2018 with 1,175,258 visitors, compared to foreign visitors who came to Indonesia in 2019, GGPG in 2019 fell by 26% to 873,894 visitors, and CPUGGp still 1% of them. The theoretical method of this research is to use customer analysis, perform external analysis of the general environment (PESTEL) and industrial environment (Porter 5 Forces), and perform an internal analysis of a resource-based model. The methodology used for customer analysis uses multiple regression analysis. Education, relaxation, joy, comfort, attraction, intimacy with locals and a variety of destination activities. At the same time, the visit intention is the dependent variable. It turns out that the results that affect the intention of the visit are interest, intimacy with the surrounding community and various destination activities. The results of this analysis will be developed as a comprehensive marketing communication strategy to achieve surfers’ motivation, which is expected to increase their willingness to visit CPUGGp. Keywords: Motivation; Geopark; Ciletuh UNESCO global Geopark; Internal Analysis: External Analysis; Customer Analysis; Surfe
Portfolio Optimization on Stocks from Agriculture, Finance, Mining, and Trade Sectors using Markowitz Method
No full textAbstract. The year of 2020 has become an unpleasant year for people around the world because of the COVID-19 virus outbreak. To minimize the outbreak, Indonesian government enforced lockdown, which resulted in the decrease of people’s purchasing power. This situation affecting the sales of many companies which resulted in many losses. It makes the economy falls and goes into recession. The fall of the economy also affecting the capital market, which has fallen into the lowest point in the last five years. In this situation, investors need to be careful in managing their investments, especially in equity investment, because equity market is strongly influenced by economic condition and market sentiment. One way to manage the investment is by analysing the portfolios’ composition that will give high return with minimum risk. The model that is commonly used for portfolio calculation is Markowitz method. This method aims to construct portfolio that will give certain return and know how much the risk is by doing diversification. Based on the industrial sector growth, there are four sectors that constantly growing more than Jakarta Composite Index (JKSE) in recent months. Those sectors are Agriculture, Finance, Mining, and Trade. The stocks will be selected from those four sectors. This final project uses daily adjusted closed price data on the Indonesia Stock Exchange downloaded from yahoo finance from January 2016 to April 2021. The portfolio is analysed using the Markowitz method. The Markowitz method produce an optimum portfolio with 54,81% annual return and 24,42% risk. This portfolio consists of 26,11% DEFI; 14,92% ZBRA; 12,21% ANTM; 8,95% WICO; 8,81% INDY; 8,54% BINA; 8,21% PTRO; 6,26% BBHI; and 6,00% KONI. The Net Asset Value from this portfolio is Rp10.745.Keywords: Investment, Portfolio, Return, Risk, Markowit