BUSINESS STRATEGY FORMULATION FOR MARKET DEVELOPMENT TO INCREASE SALES REVENUE IN FISH FEED BUSINESS USING BUSINESS MODEL CANVAS: A CASE STUDY OF MAKMUR ABADI TAMBAK

Abstract

Makmur Abadi Tambak is a fish feed sales business that has customers consisting of small fish pond farmers, medium fish pond farmers, large fish pond farmers, and small fish pond shops. The research begins by looking for problems experienced by the company through an interview with the owner who is at the same time being a manager of the company using the 5 why’s a method. From the interview results, it was found that the company had a problem with decreasing in sales revenue in 2011 because its customer who came from large fish pond farmers left the company due to a change in the payment system from debt to cash and after that, in the following years the company experienced fluctuating sales revenue. In order to solve a company problem, an analysis of the company’s internal and external conditions was carried out. Analysis of the company’s internal conditions uses the existing Business Model Canvas (BMC) and sales revenue performance analysis, while the analysis of the company’s external conditions uses PEST analysis and Porter’s Five Forces analysis. Analysis of the company’s internal and external conditions will then be summarized into a SWOT analysis as an input which will then be entered into the IE Matrix. IE Matrix results show that the company’s position is in the cell I which results in two strategic choices, namely intensive strategy and integrative strategy. To get the right strategy for the company, the two strategies were compared using the QSPM technique and it was found that the intensive strategy was the right strategy to be implemented by the company, in the form of market development through opening a new fish feed store and selling fish feed online through the e-commerce platforms and social media consisting of Instagram and Facebook.