Designing a Business Growth Strategy Formulation for Cita Rasa Coffee and Eatery
Journal Title: International Journal of Current Science Research and Review - Year 2024, Vol 7, Issue 12
Abstract
Intense competition, fluctuating client numbers, growing raw material costs, insufficient brand awareness, unstable financial situations, and inadequate business strategies are just a few of the difficulties Cita Rasa Coffee and Eatery faces. To find and create the best business strategies, this study makes use of the Business Model Canvas, Analytical Hierarchy Process (AHP), SWOT analysis, Internal-External (IE) Matrix, External Factor Evaluation (EFE), and Internal Factor Evaluation The value proposition, which consists of premium coffee quality, a range of Indonesian coffee, traditional snacks, and a board gaming area as a main attraction, is strengthened by the use of the Business Model Canvas. In addition to highlighting strengths like superior raw materials, a prime location, and knowledgeable staff, internal study also points out flaws like inadequate marketing, reliance on suppliers, and a lack of online shopping choices. The expanding coffee culture trend, favorable local economic conditions, and technology improvements that can improve operational efficiency, on the other hand, are opportunities highlighted by outsider study. Threats like growing prices for raw materials, fierce competition, and shifting consumer spending power, however, continue to be difficulties. This study develops growth strategies based on the findings of the IE Matrix and SWOT analysis, which are subsequently ranked using AHP. The suggested tactics include establishing new locations, branching out into reasonably priced mobile coffee services, working with neighborhood organizations on a regular basis, maximizing social media interaction, and increasing online shopping choices via sites like Grab, ShopeeFood, and Gojek. The objectives of these strategic methods are to increase Cita Rasa Coffee and Eatery’s competitiveness, broaden its market reach, and create financial stability.
Authors and Affiliations
Fajar Trihutomo, Dr. Raden Dikky Indrawan, S. P. , M. M, Dr. Arry Ekananta, S. T. , M. Si,
Keywords
Related Articles
- EP ID EP753268
- DOI 10.47191/ijcsrr/V7-i12-46
- Views 31
- Downloads 0
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