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All Journal Matrik: Jurnal Manajemen, Strategi Bisnis, Dan Kewirausahaan
Werner Murhadi
Universitas Surabaya
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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A Blue Ocean Strategy for Herbal Liniment: Escaping Tight Competition in Indonesian Market Elvina Yohana Santoso; Werner Murhadi
MATRIK: JURNAL MANAJEMEN, STRATEGI BISNIS, DAN KEWIRAUSAHAAN Vol. 17 No. 2 (2023)
Publisher : Faculty of Economics and Business Udayana University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24843/MATRIK:JMBK.2023.v17.i02.p04

Abstract

The herbal liniment industry operates in a highly competitive and saturated market. This study focuses on developing a blue ocean strategy for Yodosan Herba Natur, an herbal liniment manufacturer, to treat musculoskeletal pain. Through qualitative interviews with 17 participants in Surabaya, customer preferences and latent needs for musculoskeletal pain treatment were explored. Data analysis revealed seven main themes: effectiveness, experience, ease of use, sensation, availability, recommendation, and other factors. This research assessed the competitive landscape comprehensively using blue ocean strategy analysis tools. The blue ocean strategy is to develop an odorless product with long-lasting heat, a strong brand image, widespread availability, compact size, and affordable prices. New factors introduced are packaging designs, niche marketing, and strategic partnerships. The findings highlight the potential for Yodosan Herba Natur to revolutionize musculoskeletal pain treatment and capture the untapped markets of second and third-tier non-consumers.
The Effect of Overconfidence, Representative, Anchoring, and Availability Biases on Investment Decisions and Market Efficiency Werner Murhadi
MATRIK: JURNAL MANAJEMEN, STRATEGI BISNIS, DAN KEWIRAUSAHAAN Vol. 18 No. 2 (2024)
Publisher : Faculty of Economics and Business Udayana University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24843/MATRIK:JMBK.2024.v18.i02.p03

Abstract

This study looks at how behavioral biases affect investment choices and market efficiency. This research was conducted because many millennials invest on a bandwagon without having a good understanding of investment. This kind of study use the structural equation modeling analysis method. The study's findings indicate that the bias variable overconfidence behavior can strongly influence perceived market efficiency. Nevertheless, choices about investments are unaffected by the overconfidence bias, representational bias, anchoring, and availability behavior. The variable investment decision significantly influences perceived market efficiency. Investors with investment experience above five years and a high income can make a difference in investment decisions chosen by investors. This study theme's practical application relates to the findings of overconfidence bias, which has a substantial detrimental impact on investors' perceptions of market efficiency. A high degree of confidence among investors can lead to illogical judgments and disregarding all dangers, resulting in inefficient market circumstances.
Co-Authors Elvina Yohana Santoso