Citation:

Kathlene Ronauli Martini, Sonny Rustiadi. "Developing Marketing Strategy to Acquire Potential Customers Under 35 Years Old for Dietary Supplements Company: Case Study of 4Life Indonesia" International Research Journal of Economics and Management Studies, Vol. 3, No. 1, pp. 469-481, 2024.

Abstract:

The current market trend of dietary supplements was driven by the segment of people under 35 years old and their rising awareness of health, well-being, and performance enhancement. This market research focuses on the marketing strategy that can be applied by 4Life Indonesia, a dietary supplement company headquartered in the United States, to acquire these potential customers and increase the company's revenue. The primary research objective is to comprehend the under-35 market's purchasing behavior, as well as propose suitable value propositions and a marketing strategy. This research combines qualitative interviews with 8 potential customers and a quantitative online questionnaire with 110 participants. Tools such as PESTLE, Porter's Five Forces, and Competitive Profile Matrix (CPM) were used to analyze the company's external environment. Customer Journey 5A was used to analyze the customer's journey. Marketing Mix 7P and STP were used to analyze the internal environment. SWOT analysis was later developed from these results to create the possible value proposition and marketing strategy. Findings reveal economic, sociocultural, and technological influences on the segment's behavior, as well as product uniqueness, personalization, recommendation, and online reviews. The proposed value proposition focuses on high-quality ingredients, extensive research, transparent labeling, and customer-centric features. The proposed strategic marketing is a differentiation strategy aiming to raise awareness of 4Life Indonesia's brand. These research findings will help 4Life Indonesia to acquire and strategically position itself as a unique preventive health solution to the segment under 35 years old, fostering sustained growth of the company.

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Keywords:

Acquisition, Dietary Supplement, Market Research, Marketing Strategy, Value Proposition.