Indonesian Market Research Articles

The Effect of Application Development, Data Security, and Infrastructure Availability on Cost Savings and Company Economic Performance

This study examines the impact of application development, data security, and infrastructure availability on the economic performance and cost savings of companies in Indonesia. Utilizing a quantitative research design, data were collected from 180 companies across various industries using a structured questionnaire. The data were analyzed using Structural Equation Modeling-Partial Least Squares (SEM-PLS) 3. The results indicate that all three factors—application development, data security, and infrastructure availability—positively and significantly influence economic performance and cost savings. Infrastructure availability emerged as the most influential factor, underscoring its critical role in supporting technological advancements and efficient operations. These findings provide valuable insights for business leaders and policymakers, emphasizing the importance of strategic investments in technology to enhance financial outcomes and competitiveness in the Indonesian market.

INFLUENCE SUPPORT COLLEAGUE WORK , LEADERSHIP STYLE AND COMMUNICATION TO MPM MOTOR PONOROGO DEALER PRODUCTIVITY

General Background: Productivity is a crucial indicator of a company's success, driven significantly by human resources, especially during challenging times. Specific Background: Effective management of human resources, including fostering a conducive work environment, leadership style, and communication, is essential to optimize employee performance and achieve organizational goals. Knowledge Gap: While the impact of peer support, leadership style, and communication on employee productivity is acknowledged, specific evidence within the context of motor dealerships, particularly in Indonesia, remains underexplored. Aims: This study investigates the influence of peer support, leadership style, and communication on employee productivity at the Honda MPM Motor Ponorogo Dealer. Results: The study, conducted using a quantitative approach with data collected from 50 employees through questionnaires, revealed that peer support, leadership style, and communication each significantly and positively impact productivity. The results were validated through multiple linear regression analysis using SPSS. Novelty: This research highlights the simultaneous and significant effects of these factors on productivity within a motor dealership context, providing specific insights into the Indonesian market. Implications: The findings suggest that enhancing peer relationships, adopting effective leadership practices, and improving communication can substantially boost employee productivity. For the MPM Motor Ponorogo Dealer, these results offer actionable recommendations, such as fostering better interpersonal understanding among employees, encouraging leadership to motivate and guide, and providing communication training. Future research is encouraged to explore additional factors influencing productivity, such as work motivation and competency, to build on these findings

TINJAUAN YURIDIS TERHADAP STANDARDISASI PRODUK HELM IMPOR

Business entities that carry out trade activities by importing helmets into the country without adhering to the Indonesian National Standard (SNI) is a form of violation related to Standardization and Conformity Assessment. The main issue is whether imported helmets entering the Indonesian market comply with the standardization requirements set forth in Law Nomor 20 of 2014 on Standardization and Conformity Assessment, and what sanctions are imposed on importers who violate these provisions. The study uses a normative type of research and descriptive research methods, which is then analyzed qualitatively, and conclusions are drawn using deductive reasoning. The findings indicate that business entities without an Indonesian National Standard (SNI) certificate who distribute and trade imported helmet products without being accompanied by Indonesian National Standard (SNI) standardization violate the provisions of Article 25 paragraph (4) of Law Nomor 20 of 2014. Such violations can result in criminal sanctions in accordance with Articles 65 and 67 of Law Number 20 of 2014, which include a maximum prison sentence of 5 (five) years and/or can be subject to a maximum fine of IDR 35,000,000,000.

Unveiling the Impact of Audience Involvement, Celebrity Worship, Brand Awareness, and Perceived Product Quality on Purchase and Visit Intentions

The level of popularity of Korean music is in line with the increasing number of K-pop fans in Indonesia. Despite K-Pop's increasing popularity in Indonesia, K-beauty's reputation has declined. This study explores the influence of the Korean wave on consumer behavior in Indonesia, focusing on the K-Pop and K-Beauty industries. The research analyzes the effects of audience involvement, celebrity worship, brand awareness, and perceived product quality on purchase and visit intentions using survey data of 221 K-pop fans. Data were analyzed using Partial Least Squares (PLS). Findings reveal that audience involvement positively influences celebrity worship, which, in turn, boosts brand awareness, and sigficantly impacts perceived product quality. This perceived product quality positively affects consumers' intentions to purchase and visit, highlighting the interconnectedness of these factors. These results underscore the substantial role of audience involvement and celebrity worship in enhancing brand awareness and perceived product quality, which are pivotal in shaping purchase and visit intentions. The study offers valuable insights for businesses and marketers in the K-Pop and K-Beauty industries, emphasizing the need to understand and leverage these dynamics within the Indonesian consumer market.

IMPACT OF THE RUSSIA-UKRAINE CONFLICT ON INDONESIAN COMMODITY STOCKS: A SYSTEMATIC LITERATURE REVIEW

The Russia-Ukraine conflict has significantly impacted Indonesian commodity stocks, as revealed by a comprehensive literature review. The conflict has introduced volatility in global markets, directly affecting Indonesian stock commodity-based prices, exchange rates, and investor sentiment. While initial commodity price rises benefited Indonesian stocks, persistent volatility and market interconnectedness pose challenges. This paper employs a systematic literature review methodology, collecting, synthesizing, and analyzing numerous papers published in the last decade on a variety of topics closely related to volatility transmission issues. Based on our review of twenty-seven articles, the result of this paper's analysis underscores the importance of diversifying investments and enhancing resilience against global disruptions. The GARCH models and the Geopolitical Risk Index further emphasize Indonesian commodity stocks' susceptibility to global price fluctuations and geopolitical risks. The research concludes that the Russia-Ukraine conflict has far-reaching consequences for Indonesian stock commodity-based markets, underscoring the need for risk mitigation strategies and enhanced resilience against future geopolitical shocks.

Indonesian Market Response to Green Investment

Indonesian Market Response to Green Investment

Manajemen Strategi Pemasaran Produk Manulife Saving Protector pada PT Asuransi Jiwa Manulife Surabaya Pusat

One of the best insurance companies in Indonesia is PT Asuransi Jiwa Manulife Indonesia, a financial services provider from Canada that operates in Asia, Canada and the United States. Headquartered in Toronto, Canada, Manulife has been serving customers for more than 155 years. Manulife is traded under the symbol ‘MFC’ on the Toronto, New York and Philippine stock exchanges, and under the symbol ‘945’ in Hong Kong. Manulife Indonesia has offered a variety of financial services including life insurance, accident and health insurance, investment services and pension funds to individual customers and business actors in Indonesia. Manulife Indonesia has served more than 2 million customers in Indonesia through a network of more than 11,000 employees and professional agents spread across 30 marketing offices. Given the increasing market potential in Indonesia, many insurance companies, both local and foreign, are trying to reach the market in Indonesia. In order for the company to be able to compete with other insurance companies, a sales strategy and product are needed that can attract the interest of its customers. One of the most popular products owned by PT AJ Manulife Indonesia is Manulife Saving Protector, which is the only individual dual-purpose life insurance product (endowment) that can provide Insurance Money of up to IDR 1.5 billion without having to undergo a medical examination first. The insurance industry in 2023 is projected to increase along with improving economic conditions in Indonesia. However, the level of public distrust can hinder the development of this industry. This causes many people to tend to delay opening an insurance policy.

FAKTOR-FAKTOR YANG MEMPENGARUHI PILIHAN KONSUMEN TERHADAP KOPI TOMORO DIBANDINGKAN MEREK LAIN (STUDI PENELITIAN GROUNDED THEORY)

The research aims to capture the voices of Indonesian coffee consumers and develop a nuanced understanding of their preference for Tomoro Coffee. This will contribute valuable knowledge to the existing body of research on consumer behavior in the Indonesian coffee market and provide actionable insights for Tomoro Coffee's future marketing strategies. The approach utilized in this research employs a qualitative method based on grounded theory principles, enabling researchers to develop constructs and theories directly from data collected firsthand, rather than relying on pre-existing theories. Furthermore, the classification of categories into broader themes was carried out to identify the relationships among the compiled categories. Based on the study results, three major themes emerged from interviews with three business actors: Product Characteristics, Brand Image and Marketing, and Price and Value Perception. It can be concluded from the study results that the factors influencing consumer choice of Tomoro Coffee over other brands include the price and the value of the service and products obtained from Tomoro Coffee. Brand image and marketing also influence consumer choice because attractive marketing and promotions draw consumers to purchase Tomoro Coffee. Meanwhile, the variety of the menu, although not dominant, still serves as a reference for consumers to purchase Tomoro Coffee, particularly due to the delicious coffee flavors and affordable prices for consumers. In summary, the research highlights that the key factors driving consumer preference for Tomoro Coffee are competitive pricing, perceived value, effective marketing, and the quality of the product offerings. These insights can help Tomoro Coffee refine its marketing strategies and product development to better meet the needs and preferences of Indonesian coffee consumers. Keywords: Indonesian Coffee Market; Tomoro Coffee; Marketing Strategies; Qualitative Research; Grounded Theory.

The Key Factors for Improving Returns Management in E-Commerce in Indonesia from Customers’ Perspectives—An Analytic Hierarchy Process Approach

The rapid growth of e-commerce has led to an increase in the number of product returns in supply chains, which is both environmentally and economically challenging. E-commerce companies need to effectively manage product returns, as this has a direct impact on their reputation and consumer experience. Reducing returns is key to maintaining sustainable practices for online product sales. A significant increase in e-commerce transactions is also evident in Indonesia, which is the fourth largest country in the world. Despite the very large size of the market, research on e-commerce in the business-to-customer (B2C) market in Indonesia is underrepresented in the literature. The purpose of this paper is to identify key factors from the customer perspective that influence product returns in reverse logistics in Indonesian e-commerce. The novelty of this study stems from the focus on the customer perspective on product returns in the B2C market when shopping online and the spatial scope. Due to the uncertainty inherent in multi-criteria decision making, the analytic hierarchy process (AHP) method was used to rank factors and potential solutions derived from a critical literature review. As a result, the study provides a ranking of factors and alternatives for managing e-commerce returns in Indonesia. The results show that among Indonesian e-commerce customers, product quality (QP) was rated the highest, while (Pu) was rated the lowest. In terms of the alternatives that are the most suitable for improving the customer experience of e-commerce product returns in Indonesia, a clear returns policy (CRP) scored the highest, while the merchandise catalog (Cat) was rated as the lowest priority.

Analysis Of Strategies for Strengthening the Online Game Industry Using an Industrial Cluster Approach

Based on data, as one of the creative economy sectors, the game industry has much potential to boost the Indonesian economy. The total market value of the games industry in Indonesia is US$ 1.92 billion or 25 trillion rupiah. However, Foreign developers from Europe and the US dominate the games industry market in Indonesia, making Indonesia only able to contribute 0.49% of total revenue. This research aims to map Indonesia's game industry players, analyse its ecosystem's environmental determinants, and formulate effective industry development strategies. This qualitative research uses interview methods with key informants, observation, and literature study, with purposive sampling as a sampling technique. The results show that the core industry value chain of the game industry cluster consists of Game Developers and Game Publishers and is supported by Supply industries (hardware providers, HR, digital content, and financial services) and supporting industries (marketing, logistics, law, and networks). There are related institutions/institutions such as the Ministry of Tourism and Creative Economy, the Coordinating Ministry for Maritime and Investment Affairs, the Ministry of Communications and Informatics, the Ministry of Education and Culture, and the Indonesian Game Association. This industry is also related to animation, music, e-sports and tourism. This value chain ends with buyers. This research recommends concrete steps for relevant agencies to enhance the gaming industry ecosystem through human resource development, increasing access to financing, promotion and providing technological infrastructure. Collaboration across industries is expected to increase the global competitiveness and contribute significantly to the national creative economy.

Exploring electric vehicle adoption in Indonesia using zero-shot aspect-based sentiment analysis

Transportation emissions significantly contribute to greenhouse gases (GHG) and climate change. Electric vehicles (EVs) offer a promising solution to this problem. Despite the noteworthy adoption of EVs in emerging economies like China and Europe, the pace of EV rollout in Indonesia remains sluggish. Currently, the country's rate of EV adoption is below 0.3 %, leading to stagnation in the Indonesian electric vehicle market. Several factors have impeded the adoption of EVs in Indonesia. Previous studies have investigated consumer acceptance of EV adoption in specific countries using sentiment analysis. Various data analytics and machine learning techniques have been implemented in those studies. However, those studies predominantly rely on the traditional sentiment analysis method, which assigns a single sentiment classification to each document or sentence. On the other hand, this study aims to investigate consumer acceptance of electric vehicle adoption in Indonesia through Twitter conversations. It utilises the Zero-Shot Aspect-Based Sentiment Analysis (ABSA) approach, which can provide a more fine-grained analysis of the aspects discussed and their corresponding sentiments. The findings demonstrate the effectiveness of this approach in identifying discussed aspects within tweets, though its sentiment classification performance is limited. The research also uncovers crucial aspects of electric vehicle adoption and public sentiments on Twitter. These insights could provide valuable guidance to the government and other stakeholders regarding the concerns associated with EV adoption in Indonesia.

Konvergensi Bank dan Ketahanan Bank terhadap Pandemi

Book bank 4 is the bank with the largest number of assets and controls more than half of the banking market in Indonesia. Since the early 2000s BUKU 4 bank is an exclusive club consisting of the 4 largest banks in Indonesia. This changed in 2017 when CIMB Niaga bank entered BUKU 4 bank and a year later Panin bank joined. This study examines what factors underlie these banks can merge into a BUKU 4 bank. Further this research then examines the resilience of BUKU 4 banks to the pandemic. The research method is a quantitative method using multiple linear regression. The research uses data taken from the financial statements of 2010 to 2018. The results show that the factors that drive the convergence of banks are the factors of capital adequacy, low borrowing loans and operational efficiency of banking. Meanwhile, in order for banks to survive this research finds investment factors in technology, maintaining capital adequacy and unpaid debt management.

Integration of Stock Markets Between Indonesia and Its Major Trading Partners

The aim of this study is to analyse the integration between the emerging stock market of Indonesia and its major trading partners The Research methodology using VECM (Vector Error Correction Model) frameworks, (i.e., US, China, Japan, and Singapore) during the period of January 2016 to December 2018 with monthly data of the Indonesian stock market. The result of is this research found that the Indonesia stock market affected by its major trading partner in short term and long term. Indonesian market (JCI) responds to US market (DJIA) in positive (+) both in short run and long run. Meanwhile, Indonesian market (JCI) responds to Japan market (N225) in negative (-) only in the long run and not significant in the short run. However, China (SCI) and Singapore market (STI) are not significant in short run and long run. This research gap is to explain how the implications of the dynamics of one country's capital market affect the development of stock indexes in other countries. The benefits of this study are to explain the interaction between the dynamics of one capital market in a country and the capital markets of other countries so that appropriate macroeconomic policies can be formulated to anticipate economic effects that have the potential to cause uncertainty in the capital market. The implications of this study provide an overview of the relationship between the development of stock indexes in one country and another.

Pengaruh Live Streaming dan Metode Pembayaran Cash On Delivery Terhadap Keputusan Pembelian Pada Tiktok Shop di Indonesia

The rapid development of digital technology, especially the internet, has driven the emergence of a new marketing strategy known as digital marketing. One example of digital marketing in Indonesia is TikTok Shop, which offers attractive features such as live streaming, discounts, and cash on delivery payments. The objective of this research is to determine the influence of live streaming, and cash on delivery payment methods, both simultaneously and partially, on purchasing decisions on TikTok Shop in Indonesia. The research methodology employed is quantitative. Purposive sampling was used as the sampling technique. Data was collected using questionnaires and analyzed using IBM SPSS Statistics 25, with multiple linear regression analysis. The results showed that live streaming, cash on delivery payment methods have a significant simultaneous influence on purchasing decisions. Partially, live streaming and cash on delivery payment methods have a positive influence on purchasing decisions. The coefficient of determination (R²) is 89.6%, indicating that live streaming, cash on delivery payment methods, have an influence on purchasing decisions, while the remaining 10.4% is influenced by other variables.

Pengaruh Brand Image, Korean Wave, Sikap Fanatisme, dan Brand Ambassador terhadap Keputusan Pembelian Ultra Milk Edisi Kolaborasi Stray Kids

Ultra Milk is a milk brand using UHT (Ultra High Temperature) technology and one of the products that dominate the Indonesian market. The rising trend of South Korean culture has led Ultra Milk to collaborate with South Korean entertainment artists. Capitalizing on fanaticism, Ultra Milk chose Stray Kids as a brand ambassador by issuing a limited edition photocard. The study aims to determine the effect of brand image, Korean wave, fanaticism, and brand ambassador on purchasing decisions for Ultra Milk products in the Stray Kids collaboration edition. Using a quantitative approach. Research data sources come from primary and secondary data. Primary data was obtained by distributing questionnaires to respondents. Secondary data sources are obtained from journals and books. Data collection techniques using non-probability sampling (purposive sampling). The research sample was 168 respondents with the criteria of Stray Kids fans, aged 20-25 years, and had purchased Stray Kids Ultra Milk products. The data was processed using SmartPLS 4.0 software. The results showed that brand image, Korean wave, fanaticism attitude, and brand ambassador have a positive and significant effect on purchasing decisions.

ESG Impact on LQ45 Stock Returns: Early Appraisal

This research investigates the correlation between Environmental, Social, and Governance (ESG) risk scores and stock returns in Indonesia’s LQ45 market from 2016 to 2022, considering the influence of firm size. Analyzing data from 39 LQ45-listed firms, panel data estimations, and the Hausman test, the study reaffirms the well-documented firm size effect, showing smaller firms with higher stock returns. However, it does not identify a significant impact of ESG risk scores on stock returns during the study period. This suggests that ESG practices may not yet significantly influence stock performance in the Indonesian market, possibly due to the nascent stage of ESG adoption, introduced publicly by the Ministry of Finance in 2022. The findings highlight the importance of ongoing research and awareness as Indonesia's corporate governance and investment landscape evolve with respect to ESG considerations.

The failure mode and effect analysis of Islamic banking product marketing in Indonesia

Purpose This study aims to use a risk management approach to analyze the factors influencing the marketing failure of Islamic banking products in Indonesia. Design/methodology/approach Data were collected from respondents to be involved in the risk assessment of failure based on the criteria of severity score, likelihood of occurrence and detection ability of employees. The dominant factors were grouped into the number of new customers and transaction value categories. The failure mode and effect analysis (FMEA) method was used to identify the highest risk dominant factors. Findings The study results show critical factors and prioritized for immediate improvement. The number of new customers can be identified based on the following factors: occupation of prospective customers; income level of prospective customers; the lifestyle of the prospective customer. Transaction value can be identified based on the following factors: total balance; the level of convenience in transactions; turnover of funds; profitability; and risk management. Practical implications The Islamic banking industry in Indonesia needs to consider the importance of suitability: target market with the products offered, considering the income level of customers with suitable products, the level of profit sharing expected by consumers, improving customer education about Islamic banking products, the capabilities of financing staff and staff capabilities on risk management in Islamic banking products and services. Originality/value To the best of the author’s knowledge, this research is the first to apply FMEA in analysing marketing failures of Islamic banking products and services.

Propose Strategic Marketing Initiatives to Accelerate Market Share and Revenue of MEDTECH Company for Trauma Implant Device in Indonesia (Case Study at MEDTECH Company)

Trauma is a critical global health issue, leading to millions of serious injuries and significant fatalities worldwide, particularly from traffic accidents. In Indonesia, traffic accidents were the fifth leading cause of death in 2023, highlighting the urgent need for effective trauma care. Despite the pandemic, the trauma device market in Indonesia experienced growth, with MEDTECH’s portfolio outperforming the market but still underperforming in revenue generation. This research aims to address MEDTECH’s challenges and formulate strategies to enhance its market presence and sales performance. The study is divided into three phases: identifying core business issues, establishing a theoretical foundation using PESTLE and Porter’s Five Forces, and conducting a SWOT analysis. The PESTEL analysis revealed opportunities such as economic growth and technological advancements, and threats including local content regulations and supply chain issues. The Porter analysis suggests moderate market attractiveness due to competition and innovation needs. The STP analysis identifies key targets, including Tier 1 hospitals for advanced Variable Angle (VA) implants and Tier 2 hospitals for cost-effective Mono Angle (MA) implants. The Marketing Mix analysis highlights the need for product updates, pricing adjustments, expanded distribution, and enhanced promotional activities. To strengthen its position, MEDTECH should focus on immediate product development and market penetration strategies, while also planning for long-term local manufacturing and regulatory compliance to ensure sustainable growth in the Indonesian market.

Firm growth and firm value: Moderation role of board size during Russia-Ukraine war

This study’s objective is to investigate the influence of board size as a moderator in a research model examining the impact of firm growth on firm value, considering the impact of the Russia-Ukraine war on Indonesia over the past seven years. The study consisted of 328 observations, ranging from 2014 to 2021. This study discovered that company expansion has a considerable beneficial impact on firm value. The board of directors has the ability to operate as a moderating variable, whereas the board of commissioners did not moderate the impact of firm expansion on company value. The results of the research aligned with the signaling theory, which posited that a company's ability to expand is a crucial indicator of its success. The market responded positively to this positive signal, drawing in new investors who subsequently increased the company’s value. This study revealed that, despite their important functions in a company, the board of directors and the boards of commissioners were unable to mitigate the impact of firm expansion on firm value. This could be caused by external factors like the Indonesian economy and market during the Russia-Ukraine conflict. The Russia-Ukraine war affected Indonesian companies, but they remained stable until now. The researcher was unable to acquire financial data from non-public firms impacted by the conflict between Russia and Ukraine, resulting in a small sample size.

Faktor yang Mempengaruhi Keputusan Pembelian Pakaian Bekas di Pasar Aurduri Kota Jambi

The secondhand clothing market has become a popular alternative choice among consumers, especially in big cities like Jambi. This study aims to explore the factors that influence purchasing decisions of secondhand clothing in Aurduri Market, Jambi City. With the growing interest in second-hand clothing, it is important to understand the variables that influence purchasing decisions to provide deeper insights for sellers and market stakeholders. This study used a quantitative method with a sample of 40 respondents who were randomly selected. Data was collected through a questionnaire designed to evaluate the influence of price, product quality, brand, and socio-cultural factors such as local trends and norms on purchasing decisions. The results showed that price was the dominant factor influencing purchasing decisions, followed by clothing quality and seller reputation. Socio-cultural factors also influence purchasing decisions, albeit with a smaller degree of influence. The findings provide valuable insights for used clothing sellers in Aurduri Market in formulating marketing strategies, as well as enriching the literature on consumer behavior in the context of the used clothing market in Indonesia.