International Conference On Association Of Indonesian Entrepreneurship Study Programs
Vol. 1 No. 1 (2024): Proceeding International Conference On Association Of Indonesian Entrepreneursh

LOCAL PERFUME BUSINESS DEVELOPMENT STRATEGY (Case Study on Marvest Fragrance)

Bustamil Ramadhani (Unknown)
Jusni (Unknown)
Muhammad Toaha (Unknown)



Article Info

Publish Date
09 Dec 2024

Abstract

This study aims to analyze the internal and external conditions and formulate appropriate business strategies for Marvest Fragrance in facing the challenges of the local perfume market in Makassar City. The analysis is conducted through an internal factor analysis using the marketing mix and STP (Segmenting, Targeting, Positioning), and external factors through PEST analysis (Political, Economic, Social, Technological) and Porter’s Five Forces model. The results of the study indicate that Marvest Fragrance’s internal strengths include highquality products, competitive prices, a professional team, good financial management, production and distribution efficiency, and marketing through social media. On the other hand, its weaknesses include limitations in human resources, capital, product variety, shipping processes, and a narrow market segment. External opportunities include economic and population growth in Makassar, the perfume trend among young people, and government support for SMEs. The external threats faced are inflation, new competitors, shipping costs and delays, as well as high buyer bargaining power and product substitutes. The recommended strategy is to leverage strengths and opportunities (SO) by optimizing social media, expanding the market through efficient financial management, and improving distribution supported by human resources and technology.

Copyrights © 2024






Journal Info

Abbrev

icoaiesp

Publisher

Subject

Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

Description

The Proceeding International Conference On Association Of Indonesian Entrepreneurship Study Programs (E-ISSN: 3064-3635) serves as a platform to disseminate cutting-edge research and innovative practices in the field of entrepreneurship. This publication includes a diverse range of topics such as ...