SWOT Analysis and Marketing Mix 4P Model as a Method to Develop Strategic Plan for Newly Marketed Agricultural Corn Seed Product

Abstract

The Province of Sumatera Utara is one of the corn producers in Indonesia. Demand for agricultural products especially corn and corn products keeps steadily increasing. The use of quality seeds will certainly be able to increase the yield productivity of corn farmers to fulfill the increasing demand. In the observed company object, the newly marketed NK corn seed product faces various strategic obstacles. By considering several things such as not achieving sales targets for similar products in the past, changes in environmental conditions after Covid-19, and competition with products that existed on the market, it is necessary to have a strategic plan for marketing this product. A method that can be used to identify the marketing conditions that will be faced by the newly marketed product is SWOT analysis with a focus on the 4P marketing mix model. With this method, the identification of Strengths and Weaknesses is carried out together with the company’s internals, while the identification of Opportunities and Threats is carried out with company stakeholders and product users. Followed by, determining the appropriate type of strategy used by using the Internal Factor Analysis Strategic (IFAS) and External Factor Analysis Strategic (EFAS) Matrix analysis procedures. The results obtained are in the form of recommendations for strategic plans that need to be implemented to win the market competition and achieve the expected targets. Another result gives the hint that the strategic plan recommended also brings socio-economic impact to the farmers.