Citation:

Nur Rahmawatini, Dr. Isti Raafaldini Mirzanti, M.M. "Proposed Business Strategy for Lanora Florist to Compete and Grow Successfully in the Future" International Research Journal of Economics and Management Studies, Vol. 2, No. 4, pp. 692-697, 2023.

Abstract:

This study aims to determine the impact of the Ansoff Matrix application on Lanora Florist's business strategy. An interview was developed and distributed to achieve the objectives of the study. The study finds that there is a strong impact of applying the Ansoff Matrix (market penetration strategy, product development strategy, market development strategy, diversification strategy) on business performance in Lanora Florist. The study recommended some recommendations which enable the decision-makers to use the strategies of Ansoff Matrix in an effective way, which helps Lanora Florist to strengthen their position in an increasingly competitive industry. This research can be helpful for the business owner, especially in taking the right strategic business plan.

References:

[1] Artificial Plant & Flowers Market Size, Share, Growth, and Industry Analysis by Type (Artificial Plant, Artificial Flowers) By Application (Commercial, Residential), Regional Insights, and Forecast from 2023 to 2031. Retrieved from www.businessresearchinsights.com (10 August 2023)
[2] Rothaermel, F.T., 2021. Strategic Management 5th ed., New York, NY: McGraw-Hill
[3] Porter ME (1985) Competitive Advantage: Creating and Sustaining Superior Performance. Free Press, New York
[4] Kotler, P. and Amstrong, G. (2016). Principles of Marketing. 16th Edition, Pearson Education Limited. Essex, England.
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[6] Business Strategy And Objectives (2010). Swindon: BCS Learning & Development Limited. Retrieved from https://www.proquest.com/books/01- business-strategy-objectives/docview/619741417/se-2\ (17 November 2023)

Keywords:

Business Strategy, SWOT Analysis, TOWS Matrix, Ansoff Matrix.