American Journal of Economic and Management
Business
�e-ISSN: 2835-5199
Vol. 3 No. 11 November 2024
Designing a Business Strategy
Using Business Model Canvas (BMC) on Product Newcomer Gyura Hijab�
Regita Anggia Ning Tyas1*, Keni
Kaniawati2
Universitas Widyatama, Indonesia
Emails: [email protected]
Abstract
In the dynamic
and ever-evolving fashion industry, newcomers face significant challenges,
particularly in crafting effective business strategies. This study aims to
evaluate the feasibility of Gyura Hijab's business plan through an
entrepreneurial lens and to analyze the development of a business strategy
using the Business Model Canvas (BMC) framework. It focuses on understanding
consumer preferences, hijab fashion trends, and aspirations for a modern
lifestyle as a foundation for designing products and marketing strategies. The
research employs a case study approach with qualitative methods to gain
in-depth insights. A comprehensive SWOT analysis was conducted, supported by
qualitative data collection and analysis to understand the internal and
external factors influencing Gyura Hijab's business strategy. The findings
indicate that Gyura Hijab is strategically positioned to expand its business
through initiatives such as opening new branches in different regions with
unique concepts and products. The company plans to develop a Budget Plan (RAB)
for new stores with distinct decorations, products, and partnerships. It also
aims to launch partnership programs as a promotional strategy, foster
collaborations with loyal customers, and implement more aggressive marketing
tactics both online and offline. This study contributes to the practical
understanding of utilizing the BMC framework for business development in the
hijab fashion industry. The novelty lies in tailoring the BMC framework to the
specific needs of a hijab fashion business, providing actionable insights for
practitioners and aspiring entrepreneurs in the industry.
Keywords: Business Strategy, Business
Model Canvas, Product Newcomer.
INTRODUCTION
The study addresses several critical
research gaps in the rapidly evolving Muslim fashion industry, particularly
focusing on emerging businesses and their strategies for navigating competitive
markets
The Muslim fashion industry in Indonesia
has seen rapid growth over recent years, driven by increasing consumer interest
in hijabs, Muslim attire, and related accessories
Cirebon, a city in West Java often
referred to as the "City of Shrimp," exemplifies the potential for
developing SMEs within the creative industry, especially in Muslim fashion. The
presence of factory outlets, malls, and department stores underscores Cirebon�s
capacity to grow its fashion sector. Data from 2021 to 2023 reveal a steady
increase in the number of SMEs in Cirebon, growing from 5,416 units in 2021 to
5,930 units in 2023, with a consistent annual growth rate
Fashion is increasingly becoming a medium
for self-expression, shaped by technological advancements and evolving consumer
preferences
Gyura Hijab, founded in 2023, represents a
case study for exploring these challenges. By utilizing the Business Model
Canvas (BMC) framework, this study examines Gyura Hijab�s strategic elements,
including customer value propositions, distribution channels, and core
resources
Unlike prior research focusing on
established corporations like PT. Semen Indonesia, this study shifts attention
to new players in the fashion industry
Insufficient Focus on New Entrants in
Muslim Fashion: While existing studies prioritize established businesses, this
study examines the unique challenges faced by new entrants like Gyura Hijab.
Limited Integration of Strategic Frameworks: The simultaneous use of BMC and
Timmons Model in analyzing business strategy remains underexplored, especially
in the Muslim fashion sector. Underrepresentation of Regional Contexts: The
development of Muslim fashion businesses in secondary cities like Cirebon, as
opposed to major urban centers, lacks adequate scholarly focus.
The Business Model Canvas (BMC) provides a
structured framework for analyzing Gyura Hijab�s business model by detailing
customer segmentation, value propositions, and key partnerships. Complementing
this is the Timmons Model of Entrepreneurship, which evaluates the interplay
between opportunities, resources, and team dynamics to assess business
viability
This study aims to evaluate the business
feasibility of Gyura Hijab using the Timmons Model and to develop actionable
business strategies through BMC. Its contributions are twofold: Academic:
Providing a reference for future researchers exploring similar frameworks in
the Muslim fashion industry. Practical: Offering strategic insights for
entrepreneurs, investors, and stakeholders to enhance business growth and
competitiveness.
By addressing the aforementioned gaps,
this study advances the understanding of entrepreneurial strategies in the
Muslim fashion sector and sets a precedent for future research in this area.
RESEARCH METHOD
This research adopts a
qualitative approach using a case study method to analyze the business strategy
of Gyura Hijab, a Muslim fashion business in Cirebon, as proposed by Creswell
The research focuses on
analyzing the company�s internal and external environments as the foundation
for business planning. Data collection involved primary and secondary data
sources. Primary data were obtained through in-depth interviews with the owner
and employees of Gyura Hijab and direct observations of the company�s
activities. Additionally, documentation was conducted to gather information on
the company�s history, organizational structure, as well as sales and marketing
data. Secondary data were collected through literature reviews from credible
sources such as books, journals, and reports relevant to the Muslim fashion
industry and hijab market
Data processing was
carried out through data reduction, data presentation, and conclusion drawing.
The collected data were categorized according to the research focus and
analyzed to identify patterns and significant relationships. SWOT analysis and
the Business Model Canvas were applied to evaluate the strengths, weaknesses,
opportunities, and threats faced by the company while determining the most
effective business strategies for future implementation.
Although this approach
offers in-depth exploration, the study has potential limitations. Bias in data
collection may arise, for instance, through the researcher�s subjective
perceptions during interviews or observations. Additionally, secondary data may
not fully reflect the current conditions. To minimize bias, the researcher
applied data triangulation by combining interviews, observations, and
documentation. Data interpretation was also conducted by considering the
broader context to ensure that the research results are relevant and applicable
for the development of Gyura Hijab�s business strategies
RESULT AND DISCUSSION
Comparative Analysis of Online and
Offline Store Retail Mixes
Table 1. Comparison of
Gyura Hijab Online and Offline Store
|
Retailing Mix |
Aspects |
Online Store |
Offline Store |
|
Products |
Products offered |
Blouse, tunic, robe, blazer, outer or cardigan,
blazer with pants, skirt, and pants. |
Blouse, tunic, robe, blazer, outer or cardigan,
blazer with pants, skirt, pants, veil, and belt. |
|
|
Price range |
IDR 49,000 - IDR 100,000. |
IDR 49,000 - IDR 100,000
(after discount). |
|
Price |
Sales pricing strategy |
30 - 40% of purchase price |
|
|
|
Promotion media |
TikTok and Instagram. |
|
|
Promotion |
Promotion strategy |
Buy 1 get 1 free, giveaways and flash sales |
Events (10-20% discount on selected items), visit
store, 10% discount for members, and 20% discount for members who shop on
certain days. |
|
|
Obstacles |
None |
|
|
|
Operating hours |
09.00 - 22.00 WIB (Flexible). |
09.00 - 19.00 HOURS. |
|
Services |
Service media |
Instagram direct message
(DM) and TikTok chat features. |
Come directly to offline store |
|
|
Reason for store
selection |
Has many users, provides free shipping, has flash
sales, utilizes influencers, can live story, easy payment features, complete
and easy promotion features. |
|
|
Physical facilities |
Layout strategy |
Categorized according to product type and arranged according
to the same catalog on 1 line consisting of 3 photos (Instagram). |
Tailored to the type and color of clothing. |
|
|
Design concept |
Use a consistent color theme. |
Using Instagramable conceptualized backgrounds for
photo spots. |
Gyura
Hijab offers fairly good quality products at affordable prices, although not
all products have uniform material quality. Customers are advised to see and
feel the product material before buying to ensure satisfaction. Sales at
offline stores are higher because customers can try on clothes first before
deciding to buy. In addition, Gyura Hijab also provides discounts for member
card holders, which can be obtained by collecting points from each purchase.
The pricing strategy for online and offline stores is not too different, and
the selling price is set at around 30-40 percent above the purchase price from
suppliers.
Gyura Hijab's promotional strategy for the
online store includes buy 1 get 1 free promotions and giveaways through
Instagram, which are designed to attract customer attention and expand the
market. In addition, Gyura Hijab uses flash sale strategy and endorsement by
influencers that suit the target market of 18 to 35 years old. For offline
stores, Gyura Hijab relies on bazaar events and provides special discounts for
member card holders. Both online and offline, Gyura Hijab provides responsive
service, with very high customer satisfaction scores
Value Proposition Canvas (VPC) Analysis
Customer Profile
Table 2. Customer Profile
|
Block |
Rank |
Customer Profile |
Total |
Code |
|
Customer Jobs |
1 |
Hangout (shopping malls, tours,
cafes) |
23 |
A1 |
|
2 |
Education (campus, course, study,
seminar) |
16 |
A2 |
|
|
3 |
Career (work, meeting) |
15 |
A3 |
|
|
4 |
Attend formal invitations
(weddings, proposals, family events, and grand openings) |
9 |
A4 |
|
|
5 |
Social media photo content |
4 |
A5 |
|
|
Customer Pains |
1 |
Fraud (fake products / do not
match the photo / description, different colors and sizes so that they do not
fit the body, or models and goods are not received) |
21 |
B1 |
|
2 |
Little stock |
17 |
B2 |
|
|
3 |
Poor quality (defective products,
untidy stitches, easily damaged, faded, thin and transparent, hot and itchy
materials) |
13 |
B3 |
|
|
4 |
Bad service (rude and impolite,
not responding, not informative, following customers, hard to find, not
dexterous, impatient, sending the wrong product in size, model and quantity,
delivery past the date it should be, no after sales such as complaints and
returns) |
14 |
B4 |
|
|
5 |
Cramped store (crowded, and
queuing) |
9 |
B5 |
|
|
6 |
Emotional feelings (regret,
disappointment, feeling like the clothes don't fit) |
6 |
B6 |
|
|
7 |
Less attractive store arrangement |
4 |
B7 |
|
|
Customer Gains |
1 |
Clothing model (cute, trendy, and
fashionable or fashionable, simple, elegant) |
28 |
C1 |
|
2 |
Quality and pocket-friendly price |
29 |
C2 |
|
|
3 |
Promo (discount, giveaway,
cashback, points, buy 1 get 1 free, free shipping, free membership card) |
26 |
C3 |
|
|
4 |
Emotional feelings (feeling happy
and not bored, confident and attractive, being a trendsetter, getting
compliments, and being free to move and mix and match creatively) |
26 |
C4 |
|
|
5 |
Service (friendly, giving
recommendations, fast response, fast delivery, warranty of defective
products) |
25 |
C5 |
|
|
6 |
Store conditions (easy to reach,
parking available, neat layout, spacious, cute, online store available) |
23 |
C6 |
|
|
7 |
Good packaging |
20 |
C7 |
Value
Map
Table 3. Value Map
|
Block |
Rank |
Value Map |
Total |
Code |
|
Products and Services |
1 |
Daily outfit |
29 |
X1 |
|
2 |
Formal Outfit |
15 |
X2 |
|
|
Pain Relievers |
1 |
Doing your own catalog photos |
26 |
Y1 |
|
2 |
Perform quality control before
sale |
23 |
Y2 |
|
|
3 |
Selecting suppliers carefully |
20 |
Y3 |
|
|
4 |
Renovated and expanded the store |
18 |
Y4 |
|
|
5 |
Work with a trusted expedition |
17 |
Y5 |
|
|
6 |
Perform stock updates |
15 |
Y6 |
|
|
7 |
Adding employees |
10 |
Y7 |
|
|
Gain Creators |
1 |
Provide promos (buy 1 get 1 free,
challenge, giveaway, flashsale, discount) |
27 |
Z1 |
|
2 |
Always update cute and trendy
clothes |
25 |
Z2 |
|
|
3 |
Provide prices in accordance with
quality |
24 |
Z3 |
|
|
4 |
Gives outfit mix and match ideas |
21 |
Z4 |
|
|
5 |
Rewarding the best employees to
serve customers well |
19 |
Z5 |
|
|
6 |
Instagramable store concept |
18 |
Z6 |
|
|
7 |
Member Card |
15 |
Z7 |
|
|
8 |
Packaging using customized
packaging |
5 |
Z8 |
In
the table is the result of matching (fitting) in accordance with the important
customеr jobs, it can be seen the points in table 3 which will become the
value proposition of Gyura Hijab to answer the needs of customers. Thus the
expectations and desires of customers will be fulfilled by Gyura Hijab. The
value proposition canvas will be a reference for designing a business model for
developing the Gyura Hijab business. The final visualization of the Salasa
Outfit value proposition canvas can be seen in Figure 1 below.
Figure 1. Value Proposition Canvas Gyura
Hijab
Business Model Canvas (BMC) Analysis
Business Model Canvas (BMC) Analysis Before Validation
Table
4.� Gyura Hijab Business Model Canvas
Before Validation
|
Key Partners |
Key Activities |
Value Propositions |
Customer Relationships |
Customer Segments |
|
a.
Photographer and Videographer b.
Model management and community c.
Supplier d.
Freight forwarding company e.
Online motorcycle taxi f.
Influencer |
Searching for bazaar event
partners, finding and ordering products from suppliers, hiring employees,
selling products online and offline, promotion and marketing, packaging and
shipping goods. |
Instragamable concept store
that has Brand Ambassador through Gyura Hijab Hunt competition event |
a.
Member card b. Live
strory Tiktok and Instagram c.
Promo (buy 1 get 1, giveaway,
challenge, flashsale and discount) d.
Customer service |
a. Women
18-35 years old b. Middle
and lower middle class |
|
|
Key Resources |
|
Channels |
|
|
|
a. Human
resources: shopkeepers, finance, warehousing, marketing, models b.
Asset resources: shop, equipment and
decorations |
|
a.
Offline store b. Social
media instagram c.
Tiktok E-commerce d. Reseller e.
Event bazaar, fashion show, model
competition |
|
|
Cost
Structure |
Revenue
Streams |
|||
|
a.
Operating costs b.
Maintenance costs c.
Marketing costs |
Sales of
daily and formal outfit products |
|||
Gyura
Hijab's business model in the form of Business Model Canvas (BMC) targets women
aged 18-35 years from the middle and lower middle class. In the value
proposition, the focus is more on the Instagramable store concept and marketing
innovation through brand ambassadors but less on the value of the products
sold. Although Gyura Hijab has understood the distribution channels for offline
and online stores, these channels have not been specifically organized
Gyura Hijab has activities that involve
various internal and external parties, with diverse business partners, although
it has not been clearly categorized between main and supporting partners
Business Model Canvas (BMC) Analysis After Validation
Expert 1
Table 5. Validation of Busines Model
Canvas from Expert 1
|
BMC block |
Validation Result |
|
Value proposition |
Mentioning the value proposition in terms of products can in terms of materials and clothing styles. |
|
Revenue streams |
Added the words "fashionable and trendy". |
|
Key activities |
a. Added catalog creation activity. b. Adding online and offline words to marketing
activities. |
|
Cost structures |
a. In addition to employee salaries, also add in
the analysis section for brand ambassador salaries. b. Adding asset maintenance costs. |
Expert
2
Table 6. Validation of Busines Model
Canvas from Expert 2
|
BMC Block |
Validation Results |
|
Value proposition |
Focus on the value of the product. |
|
Customer segments |
More sharpened on customer work. |
|
Customer relationships |
a. Promo replaced periodic promo. b. Instagram and Tiktok live stories are replaced
with social media engagement. |
|
Key activities |
a. Removing activities, hiring employees,
packaging and shipping goods. b. Increase content creation activities for social
media. |
|
Key resources |
a. Removing the human resource that is the model. b. Increase asset resources, namely goods that are
always available at the supplier. |
|
Key partnerships |
List only the main partner, the supplier. |
|
Cost structures |
Added procurement and packaging costs. |
Expert
3
Table 7. Validation of Busines Model
Canvas from Expert 3
|
BMC block |
Validation
Result |
|
Value
proposition |
Add up to 3
value propositions and focus on them on the value
of the product as well. |
|
Customer
segments |
a.
Mention the
social strata of the professions practiced by the market segment. b.
Add region
coverage and differentiate between online and offline regions. |
|
Channels |
Distinguish
between online and offline channels. |
|
Key activities |
Mention only
the crucial points. |
Expert
4
Table 8. Validation of Busines Model
Canvas from Expert 4
|
BMC block |
Validation
Result |
|
Value proposition |
Highlight the value proposition in terms of the
product. |
Expert
5
Table 9. Validation of Busines Model
Canvas from Expert 5
|
BMC block |
Validation
Result |
|
Value
proposition |
Goods are
always up to date, affordable prices with good
quality, and ready stock items have repeat
customers |
|
Key
activities |
a. Create content and social media updates |
|
Key
resources |
a.
HR: social
media content designer and customer services admin b.
Assets:
electronic equipment (printers and communication devices) |
|
Cost
structures |
Employee
bonuses and decoration costs. |
After
conducting discussions with experts, the authors created the latest BMC. BMC
that has been validated with expert judgment is adding and changing according
to current business conditions. The changes that must be made by Gyura Hijab
are quite significant to be able to compete and survive in similar business
competition
Table
10. Gyura Hijab Business Model Canvas After Validation
|
Key Partners |
Key Activities |
Value Propositions |
Customer Relationships |
Customer Segments |
|
Main Partner 1)
Supplier Supporting
Partners 1)
Photographer and Videographer 2)
Model management and community 3)
Freight forwarding company 4)
Online motorcycle taxi 5)
Influencer |
Main
Activities a.
Supplier
search and packaging of products Online and
Offline Product Sales a.
Promotion
and marketing Supporting
Activities a.
Partner search,
packaging and shipping |
1)
Fashionable
and trendy clothes with many choices 2)
Affordable
prices with the best quality and ready stock 3)
Instagrammable
concept store and Brand
Ambassador through Gyura Hijab Hunt competition. 4)
Having
repeat customers |
1)
Member card 2)
Social media
engagement 3)
Periodic promotions 4)
Customer service |
1)
Women 18-35 years old 2)
College
students, housewives and career women 3)
Middle and lower middle class 4)
Offline
Store: 5)
Located in Panambangan
Village, Sedong District, Cirebon Regency. 6)
Online
Store: 7)
Located
throughout Indonesia |
|
|
Key Resources |
|
Channels |
|
|
|
1)
Human resources: shopkeeper,
finance, warehousing, marketing, content creator and admin CS 2)
Asset resources: shop, equipment and
decorations |
|
1) Offline
store: Panambangan
Village and Event
bazaar, fashion show, model competition 2) Online Store: Instagram and Tiktok Reseller |
|
|
Cost Structure |
Revenue Streams |
|||
|
1) Operating expenses (50%) 2) Marketing cost (10%) 3) Asset maintenance
expenses (10%) 4) Asset repair expenses (10%) |
1) Sales
of daily and formal outfit products (online 60%, offline 40%) 2) Sales of hijab products (60% online, 40% offline) |
|||
SWOT Analysis
Table
11. SWOT Analysis
|
No. |
BMC Elements |
Strengths |
Weaknesses |
Opportunities |
Threats |
|
1. |
Customer segments |
The right segment range is Muslim women aged 18-35 years. |
Determination of segmentation coverage is less extensive for offline
stores. |
80 percent of frequent shoppers are women aged 18-34. |
People more often shop for staple foods and health than clothing. |
|
2. |
Value propositions |
Fashionable and trendy clothes with many choices of colors and models. Affordable prices with good quality and always ready stock Instagramable concept store that has a Brand Ambassador through
competition events Gyura Hijab Hunt. Having repeat customers |
Not having a truly unique value to attract customers. |
People love to find photo spots for social media content. |
There are many clothing retailers that provide clothes with the same
product but at a much cheaper price. |
|
3. |
Channels |
Supported channel reach from community networks and fellow retail
outfits while held a bazaar. |
Offline channels do not expand. |
The high number of visitors to the bazaar event and users of Instagram
social media and Tiktok e-commerce. |
Offline spending is not optimized. |
|
4. |
Customer relationships |
A membership card that invites customers to keep shopping. |
Obtaining a membership card is not easy. |
High desire for customers to get promos. |
Customers rarely register and use the card members to shop. |
|
5. |
Revenue streams |
Customers' willingness to pay for the products offered. |
Low margins compared to spending on Promotion. |
There is a team that can handle the high interest in online shopping |
Completeness of products from other retail outfits. |
|
6. |
Key resources |
Has physical resources, namely offline stores that make it easy for
customers to shop supported by online stores. A unique asset resource is the decoration with an Instagramable
concept. |
Physical resources of the store are not extensive and business capital
is limited |
Impulse buying by customers because they see beautiful store
decorations. |
Many other retail clothing businesses also have online and offline
stores with beautiful decorations. |
|
7. |
Key activities |
Fast packaging and using special packaging labeled Gyura Hijab. |
Lack of consistency in Instagram social media promotion. Incomplete procurement of goods for each product. |
Good, fast, and safe packaging is one of the factors for customers to
make purchases, especially for online stores. |
Customers who choose to shop at other retail clothing stores because
they are closer to their homes. |
|
8. |
Key partnerships |
Have a network of partners who are suitable and support the Gyura
Hijab business. |
Shipping costs and supplier quality cannot be consistent. |
Promotions and vouchers offered by expedition companies, online
motorcycle taxis, and influencers. |
Overwhelming shipments for shipping companies, so shipping delayed because of the waiting list. |
|
9. |
Cost structures |
High operating costs are covered due to high online sales. |
Asset repair costs that occur suddenly and unplanned. |
Marketing cost reduction so that only marketing is done Online. |
Unpredictable fluctuations in costs and compensation costs. |
Internal
and External Factor Analysis
Table 12. Internal factors in Gyura Hijab
|
Internal Factors |
Average |
Weight |
Rating |
Score |
|
|
Power |
Have offline and online store |
4.0 |
0.211 |
4 |
0.842 |
|
Community networks and fellow retail outfits. |
3.8 |
0.200 |
3 |
0.600 |
|
|
Having repeat customers |
4.0 |
0.211 |
4 |
0.842 |
|
|
Instagramable store concept and brand ambassador |
3.8 |
0.200 |
3 |
0.600 |
|
|
Member card |
3.4 |
0.179 |
2 |
0.358 |
|
|
|
|
19.0 |
1 |
|
3.242 |
|
Weaknesses |
Limited business
capital |
3.8 |
0.213 |
2 |
0.427 |
|
Does not have a truly unique
value |
3.6 |
0.202 |
2 |
0.404 |
|
|
Incomplete procurement of
goods for each product |
3.6 |
0.202 |
2 |
0.404 |
|
|
Shipping costs and supplier
quality cannot be consistent |
3.4 |
0.191 |
1 |
0.191 |
|
|
Obtaining a privilege card
is not easy |
3.4 |
0.191 |
1 |
0.191 |
|
|
|
|
17.8 |
1 |
|
1.618 |
Based
on Table 12 above, it can be seen that the total weighting of strengths is
3.242 and the weighting of weaknesses is 1.626. Strength factors that have a
big influence on the Gyura Hijab business are having
offline and online stores and having regular customers. Meanwhile, the
weakness factor that has a big influence is limited business capital.
In knowing
external factors, researchers use analysis using the Timmons
Model, which examines three critical aspects of business success, namely
opportunities, resources, and teams that produce opportunities and threats to
the business
Table
13. External factors
in Gyura
Hijab
|
��� External Factors |
Average |
Weight |
Rating |
Score |
|
|
Opportunities |
Frequent shoppers are women
aged 18-34. |
3.6 |
0.243 |
3 |
0.730 |
|
High desire for customers to
get promos |
3.8 |
0.257 |
4 |
1.027 |
|
|
The high number of visitors
to the bazaar event and users of Instagram social media and Tiktok e-commerce |
3.6 |
0.243 |
4 |
0.973 |
|
|
There is a team that can
handle the high interest in online shopping |
3.8 |
0.257 |
3 |
0.770 |
|
|
|
|
14.8 |
1 |
|
3.500 |
|
Threat |
Completeness of products
from other retail outfits |
3.6 |
0.257 |
2 |
0.514 |
|
Many other retail clothing
businesses with the same products with beautiful store decoration and
cheaper product prices |
3.8 |
0.271 |
2 |
0.543 |
|
|
Overwhelming shipments for shipping companies,
so shipping delayed due to waiting list |
3.4 |
0.243 |
1 |
0.243 |
|
|
Unpredictable fluctuations
in costs and compensation costs |
3.2 |
0.229 |
1 |
0.229 |
|
|
|
|
14.0 |
1 |
|
1.529 |
Based
on the table above, it can be seen that the total opportunity weighting is
3.500 and the threat weighting is 1.529. Opportunity factors that have a major
influence on the Gyura Hijab business are a team that is able to handle the
high interest in online shopping and a high desire for customers to get promos.
Meanwhile, the threat factors that have a big influence are the many other
retail clothing businesses with the same products with beautiful shop
decoration and lower prices.
Table
14. Calculation of internal and external values
|
Internal
factors |
External
Factors |
|
X = Strengths - Weaknesses ��� = 3,242 - 1,626 ��� = 1,62 |
Y = Opportunities - Threats ��� = 3,500 - 1,529 ��� = 1,97 |
Figure 2. Aggressive Strategy Quadrant
Model
To sharpen the analysis, we can see the
position of the Gyura Hijab business using a SWOT diagram. Based on the diagram above, it can be seen that the
value of X = 1.62 and Y = 1.97, so that the position is in quadrant I.� In�
|
|
Strengths (S) |
Weaknesses (W) |
||
|
EPAS IPAS |
1.
Have offline and online
store 2.
Community networks and
fellow retail outfits. 3.
Having repeat customers 4.
Instagramable store
concept and brand ambassador 5.
Member card |
1. Limited business capital 2. Does
not have a truly unique value 3. Incomplete
procurement of goods for each product 4. Shipping
costs and supplier quality cannot be consistent 5.
Obtaining a privilege card is not
easy |
||
|
Opportunities (O) |
SO strategy |
WO Strategy |
||
|
1.
Frequent shoppers are women aged
18-34. 2.
High desire for customers to get
promos 3.
The high number of visitors to the
bazaar event and users of Instagram social media and Tiktok e-commerce 4.
High interest in online shopping |
1.
Organized a challenge with the Brand
Ambassador for female customers to create creative content that was uploaded
on social media and won online shopping vouchers. 2.
Create a campaign with the model
community for offline shopping by implementing health protocols and rewarding
free membership cards and shopping discounts. |
1. Establish
an RnD team and conduct surveys to find unique and appropriate value for
customers. 2. Conduct
partner selection and create partnership programs as well as promotional
events 3.
Cooperate with loyal customers and
provide more promotions for online shopping |
||
|
Threats (T) |
ST Strategy |
WT Strategy |
||
|
1.
Completeness of products from other
retail outfits 2.
Many other retail clothing
businesses with the same products with beautiful store decoration and cheaper
product prices 3.
Overflow of shipments for shipping
companies, resulting in delayed shipments due to the waiting list. 4.
Unpredictable fluctuations in costs
and compensation costs |
1. Open
branches in other regions with different
concepts and different products. 2.
Create a Cost Budget Plan (RAB) by
planning the cost of creating a new store with new decor, new products, new partners, as well as
the cost of damage that may occur. |
1.
Periodic surveys related to customer
needs and satisfaction. 2.
Periodic evaluation of business
performance by considering the quality of partners and employees, as well as
assets owned. |
This
strategy matrix produces four alternatives that Gyura Hijab can use. The SO
(Strengths-Opportunities) strategy focuses on holding challenges with Brand
Ambassadors to create creative content on social media, with shopping voucher
prizes, and holding offline shopping campaigns with the model community. The ST
(Strengths-Threats) strategy includes opening new branches with different
concepts and products, and preparing a Budget Plan (RAB) which includes the
cost of building a new store and the cost of damage that may occur.
The WO (Weaknesses-Opportunities) strategy
emphasizes the establishment of an RnD team to find unique value for customers,
conduct partner selection, and create promotional programs for loyal customers.
Meanwhile, the WT (Weaknesses-Threats) strategy includes periodic surveys on
customer needs and satisfaction, as well as periodic evaluations of business
performance, partners, and employees, in order to maintain quality and
operational effectiveness.
CONCLUSION
Based on the analysis conducted, Gyura Hijab has
great potential to grow and become one of the leading fashion companies,
especially in the Cirebon area. The SWOT analysis shows significant
opportunities, such as opening new branches, allocating a budget for additional
stores, and implementing partnership programs. To optimize these opportunities,
the company needs to prepare detailed strategic steps. One of the initial steps
that can be taken is to determine a strategic location for branch expansion
based on market and competitor analysis, as well as prepare a financial plan
that includes the budget and revenue projections for new stores. In addition,
more aggressive marketing through influencers and Brand Ambassadors can
increase brand awareness and sales of fashionable and affordable Gyura Hijab
products.
In terms of operations, the company is advised to
increase efficiency by adopting a more integrated inventory management system
to reduce waste and optimize the supply chain. The implementation of an
enterprise resource planning (ERP) system can also provide a comprehensive view
for better decision-making. In addition, human resource management should be a
priority, such as through skills training to increase creativity in product
design and promotion. Recruiting experts in the fields of digital marketing and
e-commerce is also very important, given the increasing role of social media
and e-commerce platforms in marketing products today.
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Copyright holders:
Regita
Anggia Ning Tyas, Keni Kaniawati (2024)
First publication
right:
AJEMB - American
Journal of Economic and Management Business