Citation:

Annisa Farah Firdausi, Satya Aditya Wibowo. "Proposed Business Strategy to Increase Net Profit and Expansion to Feature Film Industry for Lucro Studio" International Research Journal of Economics and Management Studies, Vol. 3, No. 6, pp. 211-226, 2024.

Abstract:

Lucro Studio is a production house established in 2021 that has been offering digital ads, campaign videos, web series and numerous other services. Nevertheless, they are still regarded as a small firm and are facing challenges in increasing net profit in order to help expand to the feature film industry due to insufficient savings and limited revenue sources, despite having been working on projects from well-known firms. This research seeks to provide a new business strategy to solve these issues using qualitative research methods, with the following data collection method using interviews and qualitative document reviews which would be used for internal analysis, involving Resource-based View, VRIO Framework, Value Chain Analysis, as well as external analysis involving PESTLE Analysis, and Porter’s Five Forces. In addition, the STP Analysis and Marketing Mix 7P frameworks were used for both analyses, while SWOT analysis and Diamond Model Strategy were used to form the business strategy. As a result, the plan to achieve them involves diversifying revenue sources by seeking more divergent Video works, passive income streams, digital Marketing consultation services, Intellectual Properties, and Business synergy with video production, clients and talents. The idea presented in this approach will help develop greater profitability for Lucro Studio, which will allow it to start experimenting with the feature film field.

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Keywords:

Business Strategy, Digital Advertising, Feature Film Industry Production House, Video Production.