Citation:

Muhamad Akbar Hanavi, Harimukti Wandebori. "Proposed Business Strategy for Photomatics: Balancing Quality and Growth of Photomatics in 2025" International Research Journal of Economics and Management Studies, Vol. 4, No. 1, pp. 93-109, 2025.

Abstract:

In 2024, competition with other photo booths has been more tense than before. Photomatics has faced several obstacles in continuing the current strategy. The increasing competition from competitors and the market dynamic are examples of the challenges that Photomatics currently faces. One signal Photomatics captures is that this year's target revenue is still far from the target. To survive in the competitive industry, Photomatics should create a robust business strategy, not only to achieve the target revenue but also to achieve sustainability in this dynamic market. This research objective is to propose a business strategy for Photomatics to increase net income and win the competition in the self-photo studio industry. The methodology used in this research was Market Analysis, Internal Analysis and External Analysis. Market Analysis was conducted to understand the target market of the Photobox industry. Internal analysis was conducted to understand Photomatic's capabilities to win the competition using Resources Analysis and Value Chain Activity and assessed by VRIO analysis to determine the sustainable competitive advantage of Photomatics. The External Analysis was conducted to understand the General Environment, Industrial Environment and Competitor moves and strategies in the Photobox industry. The general environment was conducted to understand Political and Legal factors, Economic factors, Sociocultural factors, and Technology development in Photobox Industry. The Industrial factors were conducted using Porter's 5 Forces. The result from the Internal analysis was the Strengths and Weaknesses of Photomatics, and the External analysis was Opportunities and Threats for Photomatics and tailored to become a SWOT framework. Based on SWOT, the strategy was formulated through the TOWS matrix. The author proposed shifting strategy from a Cost-Leadership strategy to an Integrated Cost-LeadershipDifferentiation strategy based on the formulated strategy using TOWS. The proposed business strategy for Photomatics based on the new strategy is increasing the quality of products and stores in Java and increasing quantity outside Java, Product and Market Development, Employee Development and creating Planning and Budgeting for 2025.

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Keywords:

Business Strategy, Photobox, SWOT Analyst, Photomatics, Competition.