Syntax Literate: Jurnal Ilmiah
Indonesia p�ISSN: 2541-0849 e-ISSN: 2548-1398
Vol. 7, No. 4, April 2022
PROPOSED MARKETING STRATEGY XYZ TO INCREASE REVENUE IN
THE COVID-19 PANDEMIC
Divani Rafitya Amanda, Ira Fachira,
Budi Permadi Iskandar
School of Business Management, Bandung Institute of Technology, Bandung,
Indonesia
Email: [email protected],
[email protected], bp[email protected]
Abstract
XYZ is
a semi fine dining restaurant with unique and thematic indoor-outdoor space
concept, and a wide selection of Indonesian and Western food. During the
COVID-19 Pandemic, the activity limitations enforced by the government and
changing in consumer behaviour during the pandemic that affects XYZ�s
revenues negatively. The problem that will be discussed in this research is
regarding the decrease in revenue from direct customers of XYZ. Therefore, the
discussion of this research focuses on making business proposals to create an
effective marketing strategy for XYZ by optimizing their digital marketing. To
propose the appropriate digital marketing strategy, the author analyzes the company's internal and external elements.
Internal analysis is performed using STP Analysis and Marketing Mix 7Ps, whilst
external analysis is performed using PEST Analysis, Porter�s Five Forces
Analysis, and Porter�s Framework for Competitor Analysis. Furthermore,
the author distributes questionnaires to existing customers of XYZ. Then, the
author conducts Root Cause Analysis to identify the true cause of
problem and conducts TOWS Matrix Analysis to propose solutions to
its business issues. The result of this research is the author
suggests six strategies for dealing with its business challenges, which is by actively create
promotions on social media Instagram, optimizing social media Instagram,
marketed XYZ as an indoor-outdoor venue, create photo competition campaign as
requirement to participate product giveaway, expand the online channel by
partnering with food delivery services provider as merchant, and create catchy
banner advertisements to place it on Cibubur housing
complex.
Keywords: food and beverage, restaurant, marketing strategy,
social media, instagram
Introduction
XYZ is a restaurant that serves food and beverages, which is classified
as a micro, small-medium enterprise (MSMEs). Established in 2018, XYZ focuses on
offering a semi fine dining restaurant with unique and thematic indoor-outdoor
space concept, and a wide selection of Indonesian and Western food with artisan tea
being one of its specialty beverages. During
the COVID-19 Pandemic, the activity limitations enforced by the government and
changing in consumer behaviour during the pandemic affects XYZ�s revenues
negatively, as well as other business. On the other words, the decline in company�s revenue is more likely
because of external factors, and it is not due to internal company factors.
Therefore, relying on the current customer
is sufficient for the company to survive. The problem
that will be discussed in this research is regarding the decrease in revenue
from direct customers of XYZ.
Revenue generated from direct customer sales, whether it was a dine-in or a takeaway transaction, is highly important for XYZ, as it is a restaurant business whose main income should come from the sales of food and beverage, which in this case are from both regular consumers and events. According to the graph above, XYZ relies heavily on revenue generated from rent of event and meeting spaces. Ideally, XYZ should be able to cover all operating expenses even though no events were held at all in a month, since events are highly seasonal occurrences and sales results are unpredictable and might differ from time to time.
Although there have been many promotional activities that have been carried out by XYZ, sales to direct consumers suffers a significant decline and experienced insignificant growth of revenue. In other words, it seems that the marketing activities that have been carried out have not yet been optimum and effective, thus, the current marketing strategy have not been able to overcome the problem faced. According to current condition mentioned, there is some indications that the use of digital marketing can solve XYZ business issue. In line with that, the role of digital marketing is very important because nowadays social media platform is widely and commonly used by MSME business and large company to promote their products or services. Therefore, the discussion of this research focuses on making business proposals to create an effective marketing strategy for XYZ by using and optimizing their digital marketing.
The objective of this research project was determined as follows:
1. To assess the business condition from the internal and external conditions of XYZ.
2. To propose the most appropriate marketing strategy.
3. To identify the step to execute the proposed strategy.
Business Issue Exploration
A. Conceptual Framework
The author discovered a business issue that happened in XYZ while
creating this final project report. To address this issue, the author is
required to purpose a marketing strategy that can be used to solve the business
problem. Therefore, the author develops a conceptual framework, a formulation
that begins with phenomena that occur and progresses to the final phases as the
foundation of the entire research, as a guide to assist the author in solving
company problems.
To proposed the appropriate digital marketing strategy, the author analyze the company's internal and external elements.
Internal analysis is performed using STP Analysis and Marketing Mix 7Ps.
Whilst, external analysis is performed using PEST Analysis, Porter�s Five Forces
Analysis, and Porter�s Framework for Competitor Analysis. These internal and
external aspects are then utilized to assess the company's position in terms of
its strengths, weaknesses, opportunities, and threats, which is performed in
SWOT Analysis. Furthermore, the author distributes questionnaires to existing
customers of XYZ and conducts TOWS Matrix Analysis to propose solutions to its
business issues.
B. Research Methodology
This research was prepared using a quantitative descriptive
methodology combining primary and secondary data. In this case, the quantitative
method will analyze the company's main issues in declining of
the restaurant�s revenue by evaluating the internal and external environment. Primary data collection was collected through
interview with the owner and the author�s observation throughout the research,
and distribute questionnaires to existing customers. The following data are
required for this research analysis:
1. Interview with the owner: In this research, the
author used this primary data to collect information about the current problems
faced by PT XYZ and
the company's work environment that would be used for internal analysis.
2. XYZ Internal data: Document that is informed monthly
report, company profile, organization structure, duties explanation,
responsibility, and authority. In this research, the author used this primary
data to collect supporting data for the business issues and internal analysis
3. Author�s observation throughout the research
process: In this research, the author conducted this primary data in this
research to collect information for the internal and external analysis
4. Questionnaire: Consisting a set of questions
presented to the respondents. The objective of this questionnaire is to capture customer satisfaction regarding the
product and service offered, as well as justify and validate whether the
existing STP Analysis from internal analysis is appropriate or needs
improvement. The use of this questionnaire is also to obtain insight from
customer behavior and justify the proposed business solution regarding digital
marketing strategy by developing the results of social media behavior to
increase brand awareness.
Moreover, this research also use secondary data
sources. The collection process is carried out by information derived from
previously existing sources, which are e-news, e-book, and international
e-journal for literature review. In this research, the author conducted the
secondary data resources to collect information to support this research
background, as well as for the external analysis.
C. Current STP Analysis
Segmenting
is the process of dividing a large market into groups of people based on
similar characteristics, needs, and preferences (Kotler & Keller, 2016).
Geographically, XYZ focuses only on customers on East Jakarta, Bogor
District, Depok City, and Bekasi City, as it is part of the Cibubur
Area. In line with that, in terms of place of business, the location of XYZ is
quite strategic because it is located on the main protocol street of Cibubur in Jl. Raya Alternative Cibubur,
which is surrounded by public facilities near the restaurant. Demographically
and psychographically, XYZ decided to pursue the
target segment based on facts in the existing customers. Therefore, XYZ chooses
to focus on the age group of 18-44 years old in AB economic group, Millennials
and Generation Z which they are the most active social media user, with middle-upper income people that frequently
goes out to eat, whether it�s to hang out with friends while having nothing
else to do or to simply find a place to work outside. For the positioning, XYZ
wants to position themselves as the most favourite place to create and share
memories, and a must visit to dine at a place with great food and pleasing
aesthetics.
D. Marketing Mix 7Ps
Marketing
mix is the set of tactical marketing tools that the firm blends to produce the response
it wants in target markets (Kotler & Armstrong, 2016).
There are seven components of marketing
mix which can be controlled and communicated by the businesses, which are
product, price, place, promotion, people, physical evidence, and process.
a. Product
XYZ offers a wide variety of food and beverages ranging from appetizers,
main courses, snacks, light drinks, and artisan tea, totalling to over 78
selections of food and beverages, which aims to cater to every Indonesian and
Western food desired by customers.
According to XYZ internal data, out of 52 selections
of foods, Nasi Bakar Pesawahan and Spaghetti Carbonara are the best-selling
products on average across of all types of sales including dine in, takeaways,
and event caterings, from April to October 2021. Hence, it can be conclude that
from overall XYZ, Nusantara food sells better than Western food. However, the
most profitable food for XYZ is actually Capcay, as it is made up of mostly
vegetables which has a low cost. Hence, XYZ should promoted more for this menu
and other most profitable dishes to obtain more profit from higher margins.
On the other hand, out of 26 selections of
beverages, Sweet Iced Tea is the best-selling product on average across of all
types of sales from April to October 2021. Apart from that it is a common
beverages to order, based on observations, Sweet Iced Tea from XYZ has a fresh
taste with the right proportion of tea, sugar and ice cubes composition.
Different from food, based on company�s internal data, the most profitable
beverage menu is Sweet Iced Tea. Hence, the sales revenue from beverages is
quite optimal because the best-selling products are the ones that generate the
highest margins.
b. Price
According to the menu on the previous discussion, XYZ
offers a price range of Rp25,000 to Rp150,000 for its food through several
different categories and Rp20,000 to Rp45,000 for its beverages. Although this
price range might start at a price point that is quite higher than other
restaurants in the Cibubur Area, this price range actually reflects XYZ�s main
market segment which are people who belong in the SES A and SES B economic
category.
As of now, XYZ does not have discount type promotion
yet and only offers seasonal bundling and special offers for event package. For
instance, during the month of Ramadhan, XYZ offers their seasonal Ramadhan package for 1-4 people through
Instagram post and WhatsApp contact list. Furthermore, during the month of Ramadhan, the Ramadhan bundling package
is quite desired by customers. This can be seen by customer�s preferences of
choosing the Ramadhan bundling package as their breakfasting dish instead of
ordering a la carte menu, in which this Ramadhan bundling package is more
practical for customers to order and also cheaper.
c. Place
Based on the STP Analysis that has been discussed, XYZ
focuses only on customers on East Jakarta, Bogor District, Depok City, and
Bekasi City, as it is part of the Cibubur Area. In line with that, in terms of
place of business, the location of XYZ is quite strategic because it is located
on the main protocol street of Cibubur in Jl. Raya Alternative Cibubur, which
is surrounded by public facilities near the restaurant, including many housing
complexes, schools, office buildings, hotels, hospitals, and easy access to
toll roads that could become an opportunity to obtain potential customers.
d. Promotion
XYZ uses two communication channel regularly from
time to time, which are offline channels though several printed advertisements
and online channels through social media Instagram.
Although XYZ has implemented promotion on offline and online channels,
there has been no contribution from these two channels in raising awareness or
increasing sales, as the execution seems not planned properly. As a result, the
marketing promotion has low contribution to awareness and sales.
e. People
As a restaurant that caters to people that are more
in the AB economic group, service is one of an important factor. XYZ has a set
of standard operational procedures specifically for its employees, which consist
of frontlines and backlines. Frontlines is person who has a role that directly
meets the customer face to face, such as waitress and waitresses, barista, and
cashiers. Whereas, backlines is person who has not directly meets the customer
face to face, such as restaurant captain and warehouse who in charge for the
production, as well as finance division who in charge for the administration
matters.
In order to provide good service to customer, both
frontlines and backlines working together to create smooth communication.
Furthermore, XYZ already uses an automatic system implemented through point of
sales (POS) system, in which frontline employees does not have to communicate
directly to the backline employees but rather input orders through the point of
sales (POS) station at each cashier and customer orders will be printed
automatically on the station at the kitchen. As for the employee turnover, the
rate is not low, but not significantly high as well, and replacements are
rather easy to find.
f. Physical evidence
Generally, XYZ has a comfortable atmosphere to work
or do task, and a place to hang out with friends and family. The appearance of
the indoor and outdoor design of the building represents the overall branding
and feel of the XYZ brand, which it has thematic and well design indoor
and outdoor area that targeted for
middle uppers.
g. Process
XYZ has two processes, the selling and product sales
process. In the selling process, it start with promotion until the customer
decided to visit or buy product offered from XYZ. On the other hand, the
product sales step in XYZ starts when the customer arrives at the restaurant and
ends when the customer has finished eating or takeway their food, and paid
their bills.
Furthermore, there are no issues in terms of Standard
Operation Procedure (SOP), because XYZ has implemented SOP that is in
accordance with restaurant standards, where XYZ uses an automatic system
implemented through the point of sales (POS) system which makes the ordering process
faster. Another SOP Implementation in XYZ is waiters or waitresses will repeat
the order of each customer before ordering to kitchen, the cashier will ask
customers to re-check their orders, and there are warm greetings and goodbye
from employees.
E. PEST Analysis
PEST analysis is the analysis of macro-environment
that encompasses the broad environmental context in which a company�s industry
is situated that includes strategically relevant components over which the firm
has no direct control. This analysis is used to help provide a broad picture of the
overall business environment through various perspectives to develop strategies that are
in accordance with the company's actual external conditions (Ward & Peppard, 2002).
The components of a company�s general environment analysis are from Politics, Economics, Social, and Technological. Based on the analysis, these factors from political, economic,
sociocultural, and technological, poses opportunities and threats for XYZ and
which will be useful for the SWOT analysis.
F. Porter Five Forces
According to Porter (2008), Porter's Five Forces
Analysis is a method or framework used to analyze business competition and the
attractiveness of an industry whether it has high profitability or not, and
understand where the company's strengths lie in facing business competition.
The most powerful and widely used tool for diagnosing the principal competitive
pressures in a market are the five forces framework. These includes competition
from existing rival, bargaining power of supplier, bargaining power of
customer, competition from producers of substitute products, and competition
from potential new entrants to the industry. Based on the analysis, the restaurant
industry that offers food and beverage with indoor and outdoor area concept has
high potential profitability, which indicates that it is attractive to enter.
G. Porter Competitor Analysis
Competitor analysis is a method for observing and
adapting to the movement of a company's direct competitors. According to Michael
Porter's Framework for Competitor Analysis, there are four signs of a competitor's
expected strategic movements and countermoves. These comprise the current
strategy, objectives, resources and capabilities, and assumptions of a
competitor.
The scope of this analysis is restaurant with indoor-outdoor
area concept which targeted for family and rentable space for events.
Furthermore, based on the analysis from competitor, XYZ
still need improvement in promoting their restaurant, especially in digital
marketing. Although there are several competitive advantage
that XYZ in terms of price and physical evidence, as a relatively new comer, XYZ
still have a low brand awareness that can be seen from low engagement rate and
less followers on Instagram. However, this can be an opportunity for XYZ to grow
because the restaurant is relatively new compared to other
competitor.
H. Questionnaire Results
Aside from aims to get insight regarding the
potential customers in order to develop the most appropriate marketing strategy,
the objective of this questionnaire is to capture customer behavior and
satisfaction regarding the product and service offered, validate whether the
existing STP Analysis is appropriate or need improvement, as well as justify
the proposed business solution regarding digital marketing strategy by
developing the results of social media behavior to increase brand awareness.
Because of relying on
the current customer is sufficient for the company to survive, this questionnaire will be distributed to existing
customers, which is respondents who have been purchased the product or services
from XYZ.
The number of respondents to this questionnaire was
determined through a non-probability sampling method using a purposive sampling
technique, namely by selecting respondents according to certain criteria and
considerations where the criteria and characteristics referred to existing
customers of XYZ. Because the criteria in question are very narrow, specific,
and considering the restaurant is empty of visitors, the sample size is
determined based on the calculation of minimum 50 respondents from existing
customers.
From the questionnaire results, the current STP Analysis is
already aligned with actual field conditions, which is targeting of the AB
economic group and lives in Cibubur Area. Targeting in
the STP Analysis is reasonable, where the customer feels that the products
offered are in accordance with the price paid by customer, and respondents feel
XYZ product is worth it. However, because there are quite a lot of respondents
of college students and from SES C, XYZ should take into consideration for SES
C and college students as their target market, because SES C is categorized as
middle-class status which is still aligns with XYZ target market.
In terms of promotion strategy, XYZ
should spend more money on digital marketing rather than printed advertisements
when promoting restaurants, because they are thought to be more beneficial
according to the existing customers, especially in this digital era.
Furthermore, for Instagram content creation, XYZ should highlight the
comfortable atmosphere of the restaurant and the Instagramable
indoor-outdoor area, which are the most preferred facility by respondents. In
addition, the most optimal time for posting
content on social media Instagram is in the weekday, especially in the afternoon around 4 to 8 pm and in
the evening before bed time, as this time is the most frequent time for
customers to use and access Instagram.
I. SWOT Analysis
SWOT (strength, weakness, opportunity, threat)
analysis is an overall evaluation of the strengths, weaknesses, opportunities,
and threats that aims to increase knowledge and understanding of the company's
business level to get the right strategy by using existing strengths and
opportunities to overcome all threats and reduce weaknesses so that
enterprise-level businesses can survive and thrive (Kotler & Armstrong, 2016).
Thus, SWOT Analysis is a valuable tool for sizing up the company in order to
develop strategies to strengthen its position on the strengths and
opportunities while anticipating its position on the threats and weaknesses.
The author determines the opportunities and threats
for the company based on PEST Analysis, Porter�s Five Forces Analysis, and
Porter's Framework for Competitor Analysis that have been carried out on the
analysis of external factors, as well as strengths and weaknesses based on STP
Analysis, Marketing Mix 7Ps, and Porter's Framework for Competitor Analysis
that have been carried out on internal and external analysis, as well as questionnaire
results.
J. Root Cause Analysis
Root Cause Analysis is a structural investigation
that aims to identify the true cause of problem, and action necessary to
eliminate those problem (Andersen & Fagerhaug, 2006).
Based on the internal and external analysis, as well
as questionnaire result, it is possible to conclude that, as a relatively new
entrant to the market, XYZ still needs to improve in promoting their
restaurant, particularly in digital marketing, because XYZ still has a low
brand awareness, as evidenced by a low engagement rate and fewer followers on
their Instagram account in the promotion analysis on Marketing Mix 7Ps, which
has an impact on the number of sales. Hence, this became the primary topic for
author to investigate further the marketing promotion that have been carried
out by XYZ.
Business
Solutions
TOWS Matrix Analysis is one of the most essential matching tools for
helping to generate strategies by examining both the external and internal
environments simultaneously in order to formulate a strategy plan for strategic
decision making. As a result of the analysis, the TOWS Matrix can generate four
different possible strategies (David 2005). After looking at the internal and
external sides of the company, then TOWS Matrix analysis is used as a tool to
determine alternative strategic recommendations to be formulated.
From the alternative strategies formulated, because the current
capability of the company does not allow it to advertise on billboards due to
the insufficient funds, thus, this alternative strategy was not chosen because
it is not feasible for XYZ to implement at this time. However, the banner
advertisement is feasible to implement because the cost is relatively cheaper
than billboards. In addition, below are the selected proposed strategy based on
the TOWS Matrix Analysis that author would offer to XYZ to implement in order
to solve the problems identified in Chapter II are as follows:
1.
Actively create promotions on
social media Instagram
a.
Create
different promotional offers every month
Aside of maintaining existing customer, this could
also increase brand awareness and capture potential customers as it can be
utilized as marketing material for targeted paid advertisements on Instagram
for potential customers who are actively searching for month-end promotions.
b.
Make a
seasonal promotion by taking advantage of holidays in Indonesia
XYZ can take advantage of holiday season or special
dates in which usually people have one or more day off of work and went to
spend time with their families outside. Especially in big holiday season, such
as Ramadhan, special menu bundling wrapped with festive themes can be
attractive to customers who are looking for a place to spend their holiday.
2.
Optimizing social media Instagram
a.
Creating catchy
paid advertisement
Another features on Instagram that not yet used by XYZ
is conducting Instagram paid advertisement. Instagram advertisements should be
optimized by targeting the ads to specific target markets according to XYZ�s
segmenting, targeting, and positioning. The timing of content publishing should
also align with the recommendations based on the questionnaire answers, which is
in the weekday, especially in the afternoon and before bedtime.
b.
Collaborating
with digital creator on social media Instagram
Creating collaborations with related content
creators on social media can be beneficial to XYZ�s awareness because these
content creators have their own followers base or audience, which they are
usually very willing to visit places that these content creators recommended.
These content creators are also usually how their followers find new places.
c.
Create
interactive content by utilizing existing features
As explained on the promotion part of the Marketing
Mix 7Ps, XYZ has actively promoted and utilized Instagram as their communication
channel. However, not all Instagram features has been fully utilized by XYZ. On
the other hand, as explained before, Instagram is the most ideal platform for XYZ
as it has almost every feature of every other social media platform. Thus, XYZ
must maximize the potential of various features on Instagram such as feed
posts, videos, reels, and stories by promoting the strengths of XYZ. For the
time being, the author does not recommend the usage of the IGTV feature is not
entirely relevant with the product offered at XYZ.
3.
Marketed XYZ as an indoor-outdoor
venue
a.
Promoting on XYZ�s
Instagram account
Aside from increasing brand awareness, this specific strategy can also
capture potential customer from events and let customers know that the venue of
XYZ can be rented. Furthermore, it also helps potential customers to imagine
how holding an event at XYZ might look like. This could also increase the
�Right Venue for Great Moments� positioning of XYZ as a restaurant to be the
most favourite place to create and share memories with others at every
opportunity, either just for dining out or celebrating various special occasion
such as semi fine dining, family gathering, corporate events, and weddings.
b.
Become a venue
vendoor
Another practical implication is by establishing
partnerships as a venue vendor can also increase XYZ�s brand awareness for
potential customers who wanted to use XYZ as a reliable venue for events. As of
now, there are three online channels that XYZ can register to as a venue
vendor, which is, Bridestory, Weddingku, and TheBrideDept (Hipwee.com., 2019).
4.
Create photo competition campaign
as requirement to participate product giveaway
By leveraging the power of social media Instagram, XYZ
can promote the restaurant using user generated content by holding a photo
competition, in which participants have to take a photo as creatively as
possible on XYZ and then post it on their Instagram, with total worth of Rp1,000,000
as a reward for three winners. Beside increasing brand awareness, this also
aims to draw potential customers, since according to the questionnaire results
the power of e-WOM (Electronic Word of Mouth) regarding positive reviews of an
establishment becomes one of the most influential reasons for someone to look for
a new place to dine.
5.
Expand the online channel by
partnering with food delivery services provider as merchant
During the pandemic, the government enforces
mobility limitations upon the general public, thus making people�s preference
to switch to purchase food through online deliveries. Hence, XYZ must take
advantage of the changing behavior by registering itself as a merchant in
online food delivery applications such as GoFood, GrabFood, ShopeeFood, and
TravelokaEats. Besides using food delivery platform as an extra source of income
stream, being present on such platform can have a positive impact on brand
awareness indirectly, since the platform provides exposure to another market.
6.
Create catchy banner advertisements
to place it on Cibubur housing complex.
As explained on the promotion part on Marketing Mix
7Ps, XYZ has already executed this strategy. On practice, these ads will be
placed on different period of times an unique codes, with the duration of every
banner on each housing complex placed two to three months on one another. This
is predicted to be more effective, as XYZ can trace and monitor every
effectivity of each banner placed in different places.
Result and
Discussion
XYZ is a restaurant that serves food and beverages, which is classified as
a micro, small-medium enterprise (MSMEs). Established in 2018, XYZ is located in
one of Cibubur housing complex. XYZ focuses on offering a semi fine
dining restaurant with unique and thematic
indoor-outdoor space concept, and a wide selection of Indonesian
and Western food with artisan tea being one of its specialty beverages. The
price offered for its food and drinks ranges between Rp25,000 - Rp150,000 for
the food and Rp20,000-Rp45,000 for drinks. XYZ has quite a huge space with
indoor and outdoor dining, and also provides meeting room and event spaces for
corporate related events, family gatherings, or weddings. However, XYZ
currently suffer a significant decline from sales revenue generated from direct
consumer. a decrease in sales can be seen in the company�s financial report
during the year 2019-2021, which negatively impacts the revenue of XYZ from
direct customer by -65.56% since the beginning of the COVID-19 Pandemic. On the other words, the decline in company�s revenue
is more likely because of external factors, and it is not due to internal
company factors. Therefore, relying on the current customer is sufficient for
the company to survive. Revenue from direct customer sales,
whether dine-in or takeaway, is critical for XYZ, as it is a restaurant business
whose main income should come from food and beverage sales, which in this case
are from both regular consumers and events. Because events are highly seasonal
occurrences and sales results are unpredictable and may vary from time to time,
XYZ should be able to meet all operational expenses even if no events were
hosted at all in a month.
To proposed the appropriate digital marketing strategy, the author analyze
the company's internal and external elements. Internal analysis is performed
using STP Analysis and Marketing Mix 7Ps, whilst external analysis is performed
using PEST Analysis, Porter�s Five Forces Analysis, and Porter�s Framework for
Competitor Analysis. Furthermore, the author distributes questionnaires to
existing customers of XYZ. These internal and external aspects as well as
questionnaires are then utilized to assess the company's position in terms of
its strengths, weaknesses, opportunities, and threats, which is performed in
SWOT Analysis. Then, the author conducts Root Cause Analysis to identify the
true cause of problem and conducts TOWS Matrix Analysis to propose solutions to
its business issues.
Based on
the questionnaire, the author strongly recommends XYZ to spend more money on
digital marketing rather than printed advertisements when promoting
restaurants, because they are thought to be more beneficial according to the
existing customers. Furthermore, the most optimal time for posting content on
social media Instagram is in the weekday, especially in the afternoon and
before bedtime.
In addition, for TOWS analysis, the author suggests six strategies for
dealing with its business challenges, which is by actively
create promotions on social media Instagram, optimizing social media Instagram, marketed XYZ as
an indoor-outdoor venue, create photo competition campaign as requirement to
participate product giveaway, expand the online channel by partnering with food
delivery services provider as merchant, and create catchy banner advertisements
to place it on Cibubur housing complex.
Following is the schedule that the author purpose for the company that
must be carried out to resolve the business issue faced by XYZ.
Table 1
Implementation Plan for The Proposed Solutions
|
IMPLEMENTATION
PLAN FOR THE PROPOSED SOLUTION |
||||||||||||
|
ACTIVITIES |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
10 |
11 |
12 |
|
Actively create promotions on
social media |
|
|
|
|
|
|
|
|
|
|
|
|
|
Create different
promotional offers every month |
|
|
|
|
|
|
|
|
|
|
|
|
|
Make a seasonal
promotion by taking advantage of holidays in Indonesia |
|
|
|
|
|
|
|
|
|
|
|
|
|
Optimizing social media Instagram |
|
|
|
|
|
|
|
|
|
|
|
|
|
Creating catchy
paid advertisement on Instagram Story |
|
|
|
|
|
|
|
|
|
|
|
|
|
Creating catchy
paid advertisement on Instagram Reels |
|
|
|
|
|
|
|
|
|
|
|
|
|
Creating catchy
paid advertisement on Instagram Feeds |
|
|
|
|
|
|
|
|
|
|
|
|
|
Approaching the
creator�s contact person to ask their rate card for collaborate |
|
|
|
|
|
|
|
|
|
|
|
|
|
Collaborating
with digital creator |
|
|
|
|
|
|
|
|
|
|
|
|
|
Create
interactive content by utilizing existing features |
|
|
|
|
|
|
|
|
|
|
|
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Marketed as an indoor-outdoor
venue |
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Promoting on XYZ�s
Instagram account |
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Establish partnerships
with wedding organizers or other related vendors |
|
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Register as a
venue vendor on Bridestory |
|
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Register as a
venue vendor on Weddingku |
|
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Register as a
venue vendor on TheBrideDept |
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Validation and
verification process |
|
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Promoting XYZ
as a rentable space on Bridestory |
|
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Promoting XYZ
as a rentable space on Weddingku |
|
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Promoting XYZ
as a rentable space on TheBrideDept |
|
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Create photo competition campaign
as requirement to participate product giveaway |
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Expand the online channel by
partnering with food delivery services provider as merchant to obtain
awareness regarding restaurant in Cibubur Area |
|
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|
Register as a
merchant on GoFood |
|
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|
Register as a
merchant on GrabFood |
|
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|
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|
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|
|
Register as a
merchant on ShopeeFood |
|
|
|
|
|
|
|
|
|
|
|
|
|
Register as a
merchant on TravelokaEats |
|
|
|
|
|
|
|
|
|
|
|
|
|
Validation and
verification process |
|
|
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|
Cost per Click
advertisement on GoFood |
|
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|
Cost per Click
advertisement on GrabFood |
|
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|
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|
|
|
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|
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|
Cost per Click
advertisement on ShopeeFood |
|
|
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|
|
|
|
|
|
|
|
|
|
Cost per Click
advertisement on TravelokaEats |
|
|
|
|
|
|
|
|
|
|
|
|
|
Create catchy banner
advertisements, and place it on Cibubur housing complex |
|
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|
Source: Created by Author
As shown in the table
above, even though placing advertisements on billboards is depends on the
availability, however, the author recommends installing it in April due to take
advantage of the momentum of Ramadan, where there is a culture to breakfasting together.
For expanding online channels, the time required to register to third parties
is approximately 2-3 months, and even four months, depending on each platform.
As part of promotional strategy for different offers and seasonal promotion,
the author proposed the detailed 2022 promotion schedule for XYZ to implement
below:
Table 2
Promotion Schedule for The Proposed Solution
|
PROMOTION SCHEDULE FOR THE PROPOSED
SOLUTION |
||||||||||||
|
ACTIVITIES |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
10 |
11 |
12 |
|
Special Price for Selected FnB |
|
|
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|
|
|
|
|
|
|
|
|
|
Chinese New Year Combo Package |
|
|
|
|
|
|
|
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|
|
|
Candle light dinner for Valentine�s Day |
|
|
|
|
|
|
|
|
|
|
|
|
|
Payday Promo |
|
|
|
|
|
|
|
|
|
|
|
|
|
All You Can Eat for Ramadhan Breakfasting |
|
|
|
|
|
|
|
|
|
|
|
|
|
WFH Package from 2-4 PM |
|
|
|
|
|
|
|
|
|
|
|
|
|
Independence Promo |
|
|
|
|
|
|
|
|
|
|
|
|
|
Happy Hour Bundling from 2-4 PM |
|
|
|
|
|
|
|
|
|
|
|
|
|
Christmas Dinner Combo Package |
|
|
|
|
|
|
|
|
|
|
|
|
|
New Year Eve Package from 6-9 PM |
|
|
|
|
|
|
|
|
|
|
|
|
Source: Created by Author
Furthermore, below is
the budgeting plan for conducting conventional and digital advertisements that
already explained in previous chapter:
Table 3
Budgeting Plan for The Proposed Solution
|
BUDGETING PLAN FOR THE PROPOSED SOLUTION |
||||
|
NO |
CONVENTIONAL
ADS |
PRICE |
QTY |
TOTAL |
|
1 |
Banner Placement Fee |
Rp500,000 |
12 |
Rp6,000,000 |
|
2 |
Banner Printing Fee |
Rp250,000 |
12 |
Rp3,000,000 |
|
TOTAL |
Rp9,000,000 |
|||
|
NO |
DIGITAL
ADS |
PRICE |
QTY |
TOTAL |
|
1 |
Instagram Advertisement per month |
Rp1,000,000 |
12 |
Rp12,000,000 |
|
2 |
Sponsored Merchant on Food Delivery Platform based on Cost Per Click
(CPC) and pay when a GoFood customer clicks on an
ad |
Rp1,000,000 |
12 |
Rp12,000,000 |
|
3 |
Collaborating with digital creator |
Rp10,000,000 |
1 |
Rp10,000,000 |
|
TOTAL |
Rp34,000,000 |
|||
Source: Created by Author
The prices above are
only estimated prices and are flexible, where these prices are obtained based
on the author's observations of estimated prices on the market. The price above
is a budget for one year for XYZ. Ideally, promotions in conventional marketing
should have the same ratio as digital marketing, or even higher. Therefore, if XYZ
want to formulate a new budgeting plan according to its marketing budget, XYZ
should optimizes both channels equally.
Andersen, Bj�rn, & Fagerhaug, Tom.
(2006). Root Cause Analysis: Simplified Tools And Techniques. Quality
Press. Google Scholar
Hipwee.Com. (2019). Inilah 3 Situs Buat
�Kepo� Vendor Pernikahan. Bisa Jadi Referensi Pilih-Pilih Sambil Membandingkan.
Retrieved From
Https://Www.Hipwee.Com/Wedding/Inilah-3-Situs-Buat-Kepo-Vendor-Pernikahan-Bisa-Jadi-Referensi-P
Kotler, Philip, & Armstrong, Gary.
(2016). Principles Of Marketing Sixteenth Edition: Global Edition. England:
Pearson Education Limited. Google Scholar
Kotler, Philip, & Keller, Kevin Lane.
(2016). A Framework For Marketing Management. Global Edition. Harlow,
England: Pearson. Google Scholar
Ward, John, & Peppard, Joe. (2002). Strategic
Planning For Information Systems. John Wiley & Sons, Inc. Google Scholar
|
Copyright holder: Divani Rafitya
Amanda, Ira Fachira, Budi Permadi
Iskandar (2022) |
|
First publication right: Syntax Literate: Jurnal Ilmiah
Indonesia |
|
This article is licensed
under: |