Marketing strategy analysis using SWOT analysis method and quantitative strategic planning matrix (QSPM): Case study of cosmetic SMEs

Abstract

The cosmetic business's year-on-year rise has resulted in fierce competition in the market. With the correct marketing strategy in place, the company will be able to compete in an increasingly competitive market. PT X is one of the small and medium enterprises engaged in the cosmetic industry. The SWOT and QSPM methodologies were used in this study to find a viable alternative marketing plan for PT. X. The study of IFAS and EFAS on the Cartesian diagram is located in quadrant III, and the technique utilized is to adjust the strategy, according to the findings. The Weakness-Opportunity strategy with a TAS score of 7,090 was picked in the QSPM matrix analysis. This implies that PT. X should implement a market penetration strategy in order to boost market share through increased marketing activities. Market penetration is achieved by enhancing the company's internal skills, allowing them to recognize and capitalize on possibilities in the Cosmetics Industry, allowing them to outperform the competition. And at least survive in the competitive cosmetic industry.