BUSINESS STRATEGY DEVELOPMENT OF HERBAL HONEY PRODUCT FOR MADU SEDOT COMPANY

Abstract

This study discusses the business report on Madu Sedot. This study aims to develop a business strategy to expand the market of Madu Sedot. Madu Sedot is a business unit engaged in the sale of herbal products. The main product of Madu Sedot is Baduy's original honey. This business report will discuss an introduction to business, exploration of business problems, and business solutions. The business exploration describes the business situations using Political, Economic, Social, Thecnologi (PEST) analysis and porter five forces analysis as external analysis and using STP analysis, marketing mix 7P analysis, and Resource-Based Analysis as internal analysis. The author analyzes the SWOT and makes it into EFAS and IFAS, after that process it using the TOWS Matrix method. The results of the analysis, the authors provide four recommended strategies for Madu Sedot, namely; improve performance and create a market penetration plan; improve the tools used; increase education about honey and expand distributions channels; and maintain good relationships with suppliers. This study is expected to help the author evaluate the problems faced by Madu Sedot in the herbal product business.