Proposed Marketing Strategy for Music Band in Indonesia (Case: YOI Band)

Abstract

YOI is an Indonesian music group that was founded in Bandung. They have been successful since the publication of their first album in 2007, however they have struggled with decreasing sales in recent years. The band members stated that improper management, especially with regard to marketing initiatives that make them less competitive, is the primary cause of the issues. In order to improve YOI’s business performance, this research suggests a marketing plan. The SWOT analysis, TOWS matrix, and 4P Mix Marketing framework are among the various of the strategic analytical techniques and frameworks that were utilized in this research to help formulate strategy. The research’s approach focused on consumer analysis, while gathering data from surveys, interviews, and secondary sources. In order to identify opportunities and threats facing YOI, the research also included an external analysis that considered political, legal, economic, demographic, sociocultural, technological, global, and physical aspects. The industry analysis was conducted using Porter’s Five Forces model. In order to get a deeper understanding of the competitive environment, this research also conducts competitor and internal analysis to pinpoint YOI’s strengths and weaknesses. The findings indicate that YOI had challenges such as low barriers to entry and intense competition, while simultaneously benefiting from advantages such as a strong brand reputation and a favorable economic climate. In order to address the difficulty and make the most of the prospects, the research suggested focusing on the young and established enthusiasts segments, and strategically positioning by aligning YOI’s capabilities with their desires. The study provided strategies to harness the influence of social media users in order promote YOI’s positive image and undertake product differentiation initiatives to address the intense competition. The study concludes with proposing a marketing strategy and implementation plan to effectively tackle the issues faced by YOI and capitalize on the potential available.