Business Strategy Formulation and Its Implication on  Marketing Strategy of "Made Tea" in Ubude

International Journal of Economics and Management Studies

© 2024 by SSRG - IJEMS Journal

Volume 11 Issue 8

Year of Publication : 2024

Authors : I Wayan Lanang Pastika, Made Ayu Swari Oktarini, Kadek Teddy Surya Prabawa, I Gede Jananuraga, I Gusti Ayu Ketut Giantari, Ni Nyoman Kerti Yasa

10.14445/23939125/IJEMS-V11I8P105

How to Cite?

I Wayan Lanang Pastika, Made Ayu Swari Oktarini, Kadek Teddy Surya Prabawa, I Gede Jananuraga, I Gusti Ayu Ketut Giantari, Ni Nyoman Kerti Yasa, "Business Strategy Formulation and Its Implication on  Marketing Strategy of "Made Tea" in Ubude," SSRG International Journal of Economics and Management Studies, vol. 11,  no. 8, pp. 34-43, 2024. Crossref, https://doi.org/10.14445/23939125/IJEMS-V11I8P105

Abstract:

Sustainable tourism is created if the management of existing resources considers the surrounding area's environmental, social, cultural, and economic aspects. Experiential Tourism is one of the innovations of sustainable tourism. Made Tea, one of the experiential tourism industries in the Ubud area of Bali, must reach a broader market to face competition from similar competitors. The research was conducted to formulate a business strategy and its implications for Made Tea's marketing strategy. This qualitative research uses a SWOT analysis approach and an internal-external (IE) matrix. Made Tea is currently in quadrant II and is expected to be in quadrant I or in a "grow and build" position. Under these conditions, the right strategy to use is market development, market penetration and product development.

Keywords:

Company strategy, Marketing strategy, SWOT analysis, Internal-External Matrix Analysis.

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