Professional Documents
Culture Documents
Marketing Strategy Through Internationalization Analysis For Choosing The International Market of PT. Sido Muncul TBK
Marketing Strategy Through Internationalization Analysis For Choosing The International Market of PT. Sido Muncul TBK
THESIS
By:
Jakarta
2018
MARKETING STRATEGY THROUGH INTERNATIONALIZATION
ANALYSIS FOR CHOOSING THE INTERNATIONAL MARKET OF
PT. SIDO MUNCUL TBK
THESIS
Submitted as a requirement
Undergraduate Program S1
By:
LE24
Jakarta
2018
MARKETING STRATEGY THROUGH INTERNATIONALIZATION
ANALYSIS FOR CHOOSING THE INTERNATIONAL MARKET OF
PT. SIDO MUNCUL TBK
THESIS
Written by:
Approved by:
Thesis Advisor and Head of Program
iii
DECLARATION
Hereby, I
NIM : 1801378991
Giving the non-exclusive rights to Bina Nusantara University to store, reproduce, and
distribute my thesis work, in whole, partly or just only a summary, in the form of a
printed or electronic format.
I declare that I will retain the exclusive right of mine, to use all or part of my thesis,
for development work in the future, for example in the form of articles, books,
software, or information systems.
1801378991
UNIVERSITAS BINA NUSANTARA
International Business and Management Program
Management Study Program
Binus Business School Undergraduate Program
Bachelor of Economics Thesis
Even Semester 2017/2018
ABSTRACT
ABSTRAK
Penelitian ini mengeksplorasi proses internasionalisasi dari Sido Muncul yang
beroperasi di industry obat-obatan herbal. Dalam proses analisis, peneliti
menggunakan Porter Diamond Model untuk menganalisis daya saing internasional
yang dimiliki oleh perusahaan dalam skala domestic atau negara, Porter Five Force
untuk skala indsutri, dan analisis daya saing perusahaan menggunakan analisis
SWOT yang dimana kondisi ini mempengaruhi Sido Muncul dalam pengambilan
keputusan terkait pasar luar negerinya. Hasil dari penelitian ini menunjukan proses
internasionalisasi dari Sido Muncul bersamaan denga kriteria yang dipertimbangkan
Sido Muncul dalam memilih pasar luar negerinya untuk lalu diaplikasikan ke matrix
GE/McKinsey.
Kata Kunci: Internasionalisasi, Porter Diamond, Porter Five Force, SWOT model,
Pemilihan pasar luar negeri, GE/McKinsey matrix.
v
FOREWORD
Praise the Almighty God for His Grace and His guidance through the way the
author can finish this bachelor thesis with the title “MARKETING STRATEGY
THROUGH INTERNATIONALIZATION ANALYSIS FOR CHOOSING THE
INTERNATIONAL MARKET OF PT. SIDO MUNCUL TBK”. The author filled
with gratefulness for all those people who allowed and support the author to prepare
and submitted this thesis as one of the requirements for completing undergraduate
studies at Bina Nusantara University.
The author is well-aware that this thesis cannot be completed without the help
of various parties. Therefore, in this opportunity the author would like to thank:
1. God, for His mercy and grace are always with the author
2. Prof. Dr. Ir. Harjanto Prabowo, M.M., as the rector of Bina Nusantara
University
3. Dr. Engkos Achmad Kuncoro, SE., MM., as the Dean of Binus Business
School in Bina Nusantara University
4. Dr. Lim Sanny, ST., M.M., as the Head of International Business and
Management Department in Bina Nusantara University
5. Mr. Dony Saputra M.Kom, M.M., as the Deputy Head of International
Business and Management program.
6. Mr. Rianto Nurcahyo. SE., MM., as the author’s advisor which provides an
endless support, guidance, knowledge, patience, and enthusiasm in helping the
author in finishing this thesis.
7. The lecturer who have been a great role model and teach the author all he/she
knows so that the author can reach where she is now.
8. Mr. Johan Hidayat as one of the commissioners of Sido Muncul who have
given the author a great help by a permission to conduct this research in PT.
Industri Jamu dan Farmasi Sido Muncul Tbk.
9. Mr. Carlo Lukman as the Independent Director of Sido Muncul and the General
Manager of Sido Muncul who allowed and assits the author during the
interview session for this research
vi
10. Mr. Billy Utama as the Investor Relation of Sido Muncul who allowed the
author to gain more insight about the company.
11. Two loving parents, Mr. Hindro Saputro and Mrs. Yanthi Lestari, along with
Mr. Bambang Kuntjoro and Mrs. Sisca, the author’s uncle and aunty, who have
given the author their support, prayer, suggestion, and understanding during
the lecture until the preparation for complete this thesis
12. All friends and relatives who have given encouragement, knowledge,
assistance, and input during the preparation of this thesis.
Thus, the author does hope that this research can provide a significant
contribution to the reader and the author does apologize for if there are misspellings
or flaws in this thesis. Thank you.
Author
vii
TABLE OF CONTENTS
DECLARATION ........................................................................................................ iv
ABSTRACT ................................................................................................................. v
FOREWORD .............................................................................................................. vi
ix
4.5 Respondent Background ................................................................... 67
4.7.3 Questionnaire.............................................................................. 74
4.8.2.3 SWOT Analysis of PT. Industri Jamu dan Farmasi Sido Muncul
Tbk 114
5.2.1 For the Company – PT Industri Jamu dan Farmasi Sido Muncul
Tbk 133
REFERENCES......................................................................................................... 134
APPENDIX .................................................................................................................. 1
xi
LIST OF TABLES
xiii
Figure 4-19 Porter’s Five Forces Analysis on Herbal Medicine/Supplement Industry
in Indonesia .............................................................................................................. 113
Figure 4-20 ASEAN Countries Population .............................................................. 122
Figure 4-21 GE/McKinsey Matrix ........................................................................... 127
TABLE OF APPENDIX
xv
CHAPTER 1
INTRODUCTION
Many countries from all over the world are trying their best possible way to
foster the cooperation between nations in order to solve the international problems
including economy, which also stated as the main purposes of The United Nations
(UN). According to Hutt in World Economic Forum Annual Meeting (2016), world’s
economy has always been part of the major global issue that challenges all global
community, from private sectors to public sector. One country’s economic condition
can lead to another challenge for their country such as health and education,
unemployment rate, and long-term investment for infrastructure and development.
World’ economy can be also affected by one major incidents. For example, back in
September 2011, the world was shaken with a terrorist attack which also known as the
“9/11 Attack”. This attack had both immediate and long-term economic impacts, some
of which continue to this day” quoted from www.thebalance.com (2017).
The Figure 1.1 below represents the global economic growth from 2010 until
October 2017 and its forecast until 2020. It is divided into 3 categories based on their
real Gross Domestic Product (GDP) growth including: World; Emerging Market and
Developing Economies and; Advanced Economies.
1
2
7.4
6.4
5.4 5.4
5.1 4.9 5 5
4.7 4.6
4.3 4.3 4.3
3.5 3.5 3.6 3.6 3.7 3.7 3.7
3.4 3.2
3.1
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
From Figure 1.1 above, we can see that the numbers of world’s economic
growth keep on fluctuating from 2010. In 2015, the number drop to 3.4 percent from
3.6 percent in the previous year and the number keeps on decreasing until 2016. This
downfall was triggered because of several reasons. According to Rizal E. Halim, an
economy observer from University of Indonesia in an interview with
www.beritasatu.com (2015), these reasons includes, uncertainty in US & Eurozone’s
economic restoration; drop in oil prices; low economic growth rate in China and the
commodity’s price volatility (But since 2017, the numbers are starting to grow more
stable followed with the emerging market and developing economies’ growth numbers
that also increase more stable from 2016 onward. On the contrary, the numbers of
advanced economies’ growth are projected to decrease after 2017 unlike the other two.
With that being said, according to www.voaindonesia.com (2018) advanced
economies’ growth will decrease to 2.2 percent in 2018 from 2.3 percent in 2017, and
world’s economic growth will be more supported by the developing countries
(emerging market and developing economies).
3
Out of those 10 Southeast Asian countries, the latest World Economic Outlook
report by the IMF which published on October 10th2017, stated the top five ASEAN
economies (Indonesia, Malaysia, Philippines, Thailand and Vietnam) that were
expected to grow over 5 percent at the end of 2017.
To be more specific, in 2017 the economic growth for each country was
expected to reach 5.2 percent for Indonesia, 5.4 percent for Malaysia, 6.6 percent for
the Philippines, 3.7 percent for Thailand and 6.3 percent for Vietnam
(www.thejakartapost.com ; 2017)
4
For Indonesia itself, although in the 3rd quarter of 2017 the number of its
economic growth (5.06 percent according to Central Bureau of Statistic of Indonesia)
is still left behind from the other ASEAN countries such as Vietnam (7.46 percent)
and Philippines (6.9 percent) also in the 3rd quarter of 2017 (katadata.co.id; 2017),
according to kompas.com (2018), at the end of 2017 Indonesia has finally reach its
highest number of economic growth since 2014 in the number of 5.07 percent.
The figure above shows that since 2010, the numbers of Indonesia’s economic
growth are decreasing every year until 2015 though the difference number between
them are vary from one to another. This downfall, according to www.bbc.com (2016)
and www.worldbank.org (2014), was caused by the weakening in investment growth
and exports number; low commodity’s price and consumption rate. Finally, the
number manages to gain 0.23 percent to 5.02 percent in 2016 and then gain another
0.05 percent to 5.07 percent in 2017. According to Sido Muncul (2018), this
improvement was supported by the increasing number of consumption rate, increase
in main commodity’s price, and government expenditure (especially the infrastructure
sector). With this number supported with the current global economy condition that
5
mentioned in the earlier part of this chapter, stated by Teddy Oetomo as the Head of
Intermediary of PT Schroders Investment Management Indonesia in kompas.com
(2018), the number 5.4 percent as the target of Indonesia’s economic growth rate in
2018 are considered reachable as long as the consumption rate are stable.
Hence, to be able to obtain the number above, Indonesia needs to drive more
carefully the factors that will affect the economy. One of them is, as stated in
www.worldbank.org in December 2017, export activities could help Indonesia to
strengthen its economy. The volumes of export and import activities in Indonesia are
recorded to grow into 2 digits for the first time since 2012.
Non-Oil and Gas 12 582,2 132 080,7 14 040,2 13 281,3 152 990,3 90,67
As seen in the table above, Indonesia’s exports are divided into two
categories, Migas (Oil and Gas) and Non Migas. Indonesia’s non-oil and gas exports
including vegetable/animal fats/oils, rubber, coffee, tea and spices, and many more. In
December 2017, the total number of Indonesia’s export reached 14.791,2 million
dollars. It is 3,45 percent lower than the previous month November 2017 (15.320,2
million) but 6,93 percent higher than December 2016 (13.832,4 million).
6
One of many commodities that have been traded across the countries are herbal
and traditional medicines/supplements. The use of traditional medicines has been
acknowledged by a widely scope of global community starting from low to medium
income countries (www.searo.who.int). Stated by Prof. Dr. Ernawati Sinaga as the
Head of Research in Jakarta National University in her interview with beritasatu.com
(2016), according to World Health Organization, the use of traditional or herbal
medicines in all over the world are getting better. Until this day, 80 percent of world’s
population use traditional medicines. Adding up to this statement, according to Global
Industry Analysts, Inc. (2017), the global market for herbal supplements is projected
to exceed US$ 140 billion by 2024 driven by the numerous benefits given whether to
cure disease, preventive care and help to maintain one body’s immune.
7
Figure 1-4 Global Herbal Medicine Market Revenue 2014- (estimated) 2024
Since 2014, the number keep increasing until it reaches US$ 71.19 billion in
2016 from US$ 63.05 billion in 2014, and US$ 66.99 billion in 2015. This
improvement was mainly caused by the increasing preference of customers toward
traditional medicines in which traditional remedies does not have a side effect such as
overdose toxity. These traditional remedies including Ayuverda (traditional healing
system from India); Unani (traditional treatment originally from Greece) and
Traditional Chinese Medicine.
Thus, what exactly a traditional herbal medicine is? According to Firenzuoli &
Gori in 2007, herbal medicine defined as the application of medical plants for
prevention and treatment for diseases. Moreover, according to World Health
Organization (2013) which also known as WHO, traditional medicines include
8
herbs/herbal materials, herbal preparations, and finishes herbal products that contained
certain or whole parts of a plant. Although in some countries, herbal medicines may
contain other natural organic or inorganic active ingredients that are not part of a plant
(e.g. animal and mineral materials) where this practice was usually driven by tradition
force.
Moving along with the shifting in herbal and traditional medicines market,
Asia-Pacific emerge as the fastest growing market because of its cultural affinity to
herbalism and a confident consumer with the safety of herbal ingredients. Thus, China
and India are the two most well-known countries in Asia-Pacific who can provides a
fertile environment for the growth of modern herbalism in the region (Global Industry
Analysts, Inc., 2017).
According to Elfahmi, Woerdenbag, & Kayser (2014), the word “jamu” came
from Javanese tribal language, meaning the traditional medicines from plants. Later
on, jamu has been adopted into Bahasa Indonesia with the similar meaning. In its
further development, Jamu has big potential with the biodiversity that Indonesia has.
Indonesia has 30.000 kinds of plant species and up until 2017, there are only 350 of
them that have been utilized and officially registered for their medical use (Sido
Muncul, 2018; Elfahmi, Woerdenbag, & Kayser, 2014). Hence, a sustainable
innovation and promotion are two things that are crucial to be done by herbal
medicines industry in order to have a promising position in local and global market.
Until the end of 2017, there were 986 of jamu and traditional medicines
industries recorded in Indonesia. 102 out of them are traditional medicines industries
(Industri Obat Tradisional or IOT) while 884 of them are consist of both small
enterprises of traditional medicine products (Usaha Kecil Obat Tradisional or UKOT)
and medium enterprises of traditional medicine products (Usaha Menengah Obat
Tradisional or UMOT). The Indonesian government continues to broaden the
opportunity of market expansion through export activities and economic collaboration
with national industry of jamu by carry out a comprehensive free-trade agreement (The
Ministry of Industry of The Republic of Indonesia, 2017). In line with the
government’s Master Plan of National Industrial Development for 2015-2035
(Rencana Induk Pembangunan Industri Nasional or RIPIN), jamu industry along with
cosmetic industry is the priority sector because of its huge role in steering the national
economic growth. Up until now, jamu has been exported to the Middle East,
Hongkong, Malaysia, Philippine, Singapore, Thailand, Japan, South Korea, Australia,
Europe and United States of America countries (Sido Muncul, 2017). Nonetheless, the
market share for jamu industry in the global marketplace has only reached the number
of 15 to 20 percent.
Thus, in their annual report in 2017, Sido Muncul stated that while still focus
on playing in domestic market, they wish to keep increasing their export activities
(especially to ASEAN countries) to boost up the export contribution to their revenue
which according to Mr. Johan Hidayat⸺ one of the interviewed respondents in this
research⸺ stated that the contribution of their export activities is still very small,
approximately less than one percent out of total revenue. Ultimately, Sido Muncul
11
wishes to give a significant impact to the growth of Indonesia’s herbal supplement and
traditional medicine industries domestically and internationally.
3. Based on the criteria used by the company, what systematic approach that can
be developed to assist PT Industri Jamu dan Farmasi Sido Muncul in choosing
their international markets?
international countries
expansion. eliminated.
Dorota Górecka &
Małgorzata
Szałucka
Multiple Criteria
Decision Making
2013
Social and
Behavioral
Sciences
2014
Thunderbird
International
Business Review
2015
International
Journal of
Business and
Management
2015
Using the General Quantitativ For the company The author adopts
Electric/McKinsey e to start direct the GE/McKinsey
Matrix in the export and giving Matrix and several
Process of up intermediaries criteria from the
Selecting the and open an literature.
Central and East agency on each
European Markets. market in A Class
5
countries
Management
Strategies Journal
17
Nicolae-Răzvan
Decuseară
2013
The developments of global economy are now coexistence with the economic
globalization that portrays the trend of firms buying, developing, producing and selling
products and services from local market to cross-border region by doing
internationalization (Hollensen; 2017). For each country, international activities can
be one of the factors that will influencing their economy. With that being said, the
higher contribution of firms’ international activities (such as exporting) can leads to a
better economic condition, which means more prosper one country can be. It also has
a positive impact for the party or firms who are conducting the internationalization
itself. Why? Because when they are decided to expand their sales by entering foreign
markets, this international expansion can provide new and potentially more profitable
markets, help to increase the firm’s competitiveness, and facilitate access to new
product ideas, manufacturing innovations and the latest technology (Hollensen; 2017).
For the past 40 years, many researchers took their opportunity to conduct a
research concerning the internationalization of companies using various basic theories
and the internationalization model implicit to the theories. In this section, author will
describe the common theory that is mentioned amongst those researches, that is the
Uppsala Model.
19
20
The basic view of Uppsala Internationalization Model is that firms are more
motivated to increase their commitment to enter foreign markets along with an
improvement in their experience in domestic market. As previously mentioned, the
Uppsala’s researchers found that Swedish companies took small incremental steps to
internationalize. These has been done with first, the companies move forward to start
their operations abroad in market/countries that geographically close with small
psychic distance. Second, the companies have the tendency to enter the new markets
through exports. Sales organization or manufacturing subsidiaries of their own is
something that is very rare to do by the firm in the beginning of their international
operations (Hollensen, 2017). Stated by Mo Ziying in 2015, this Uppsala
Internationalization Model was identified within incremental approach
internationalization that explained the simple way for a company to internationalize
which starts off with simple steps to complex operations implying a step-by-step
process.
Wiedersheim-Paul, 1975). The next pattern by Johanson and Vahlne (1977) discussed
that the firms enter the new market with small psychic distance before expanding to a
greater one. Psychic distance itself defined as preventing and disturbing factors that
will intervene in the flows of the information between the firm and the market
(Francioni, 2014). Hence, according to Dow (2000) in Francioni (2014), the factors
mentioned above may be referred as the differences in language, cultural, political
systems, level of education, as well as the industrial development. In addition, even
though there are numbers of literature that distinguish the significant difference
between the ‘cultural distance’ and the ‘psychic distance’, there are even more works
of literature that used “cultural distance” and “psychic distance” interchangeably.
Especially for IMS, psychic/cultural distance has been extensively used in the
international business literature as one of the most important factors that influencing
the decision on selecting the foreign markets (Francioni, 2014).
The essential motive for firms in doing internationalization is the urge to make
profits out of it. But, aside from making money, the literature shows that there are
several factors that motivate firms to do internationalization including, internal factors
and external factors (Kubíčková, Votoupalová, & Toulová, 2014). All the affecting
factors that came from within the company is categorized as the internal factors, while
external factors are those factors that arose from the external environment of the
company, domestic or foreign (Mwiti et al., 2013 in Kubíčková, Votoupalová, &
Toulová, 2014).
The competitions between firms are more competitive from time to time. In
this era of globalization, it is more likely to find firms that have a presence more than
one domestic market whether directly (company subsidiaries) or indirectly
(exporting). Thus, the shift on opportunities to expand the business into international
environment have encourage firms to go global and develop international marketing
strategies in a global scope afterwards (Chabowski, Samiee, & M. Hult, 2013). In
addition, with communications and logistic networks became more integrated, many
markets are converging which also trigger firms from all over the world to expand
their operations on a global scale. Meanwhile, marketers are facing more economic
and cultural heterogeneity because of the international market that becoming more
diverse, which means there are more challenges for firms in adapting to different
market with diverse demand, which require a different skills and resources while
attempting to transfer knowledge between the existing markets and the new markets
(Douglas & Craig, 2011).
24
27
28
Factor Conditions
Factor conditions are usually the first point of Porter’s Diamond Model to
be observed. According to Bakan & Doğan (2012), factor conditions refer to
the inputs where can be used in the production process by a company to
compete in a particular industry. There are two kinds of factor conditions in
which Porter’s Diamond Model are referring to, they are the basic factors and
advanced factors. Basic factors include geographic area, natural resources,
unskilled labor, raw materials, and climate conditions which usually inherited
and require little or no investment at all to be utilized in the production process.
Which is why, Porter considers that the key of a good production factor is
rather “created” than “inherited” and thus, advanced factors were created.
Advance factors are mostly basic factors that upgraded through investment and
specialized becoming real value creation (e.g. sophisticated technologies and
research facilities, skilled labor) (Smit, 2010).
specific condition of how to obtain those factors (access to the factors) is also
important. Easy access to a big number of quantities of production factor can
cause “inefficiency” in processing those factors. On the other hand, the
shortage in the number of quantity of a factor will constrain the companies to
initiate a more effective innovation.
Demand Conditions
With all the competition going on between firms with the pressures from
the demand conditions in the domestic market, this will intially help the firm
in processing their factor conditions which will make them ready to compete
internationally (Bakan & Doğan, 2012).
where they can provide new methodologies and opportunities to utilize new
technology so that they can produce input for the industries more efficiently
(Tasevska, 2006 in Bakan & Doğan, 2012).
which heavily adjusted with the nature of the domestic environment and that
there were significant differences in the business environment in other
countries. If the firm has the ability to manage and organized its strategy and
structure to meet the nature of the domestic rivalry, ultimately that could
support a nation to achieve its competitive advantage (with the innovation
came from the quality of the rivalry conditions) and helps the firm to compete
internationally (Bakan & Doğan, 2012).
According to Smit (2010), Porter also argues that rivalry is the most crucial
aspect in establishing a competitive advantage for both country and firm. He
thinks that domestic rivalry forces firms to be more cost competitive, more
innovative, and to encourage firms to perform a better quality of a product
and/or service.
Other than four elements that were explained above, Porter added two extra
determinants in the model that can importantly affect the national
competitiveness. Those two elements are government and chance factor.
Despite the fact that these elements were introduced as additional variables,
they have a significance important role that affects all of the main four elements
(Bakan & Doğan, 2012).
Specifically for the government, they have the authorities and the power to
make the policies and the regulations which may benefit or even affect the
competitiveness of a country and an industry. In fact, government shapes and
influences the situations of the factor and demand conditions, the related and
supporting industries, together with the firms’ strategy, structure, and rivalry.
The best term to describe the effect of these two elements in the model is that
whether the government role or chance factor acts as a “catalyst” or a
“challenger.” (Bakan & Doğan, 2012)
32
Source: www.marketingmixhub.com
the price by putting the companies against each other, a powerful supplier may
slow down the company’s profits if they charge a higher price, a low barrier of
entry making the new entrants easily join the competition, and substitute
offerings that may lure the customers away.
one another which will also require more cost through innovating. A group
of buyers have a powerful bargaining power if: (1) the number of buyer
are small, but they buy a large amount of a specific product (usually
powerful in industries with high fixed-cost for example,
telecommunications equipment); (2) the industry’s product are
standardized or undifferentiated or; (3) the player in an industry only
depends on a limited group of buyers only (Porter, 2008; Yunna &
Yisheng, 2014).
- The Threat of Substitutes. According to Porter in 2008, the threat of
substitutes refers to products and/or services that can play the same or a
similar function and give the same or similar outcome as an industry’s
product in a different way. For example, a video conference is a substitute
to a business travel, a towel is a substitute for a tissue, etc. A high threat
of substitutes can cause a misery to one industry’s profitability depends
on the relative price and performance ratios in which options that satisfy
the customer the most (Yunna & Yisheng, 2014). Thus, the threat of
substitutes is high if the substitute provides a more attractive price-
performance offering and the switching cost for buyers to the substitute is
low. Therefore, if an industry does not prevent themselves from a more
attractive substitute product through marketing, quality performance, and
by any means necessary, it will suffer more in terms of profitability and
growth rate potential (Porter, 2008).
- Rivalry Amongst Existing Competitors refers to the intensity of the
competition between players in the industry. The rivalry among existing
competitors can take any forms of competition including, price discount,
product diversification, advertising, promotion, and after-service
performance (Porter, 2008). In some point, a high degree of the rivalry
among existing competitors can drives down an industry’s profit if there
are plentiful number of a player in an industry with almost the same in size
and power, the exit barriers are high (which can be the result from a highly
specialized assets or manager’s devotion to a particular business).
35
Source: The Five Competitive Forces That Shape Strategy (Porter, 2008)
SWOT Analysis
According to Badr & Taghvafard (2016) and Liu, Xu, & Zhang (2010), SWOT
model is a structured analysis of a business environment or situation which
involves research on factors that occur in their internal and external environment
that can affect the overall performance of that business.
There are two parts implicit in SWOT analysis, which are the internal factors
and external factors. Internal factors analysis is basically from the internal
components of the company while external factor analysis is generally related to
its external environments (Liu, Zhang, & Xu, 2010). Thus, SWOT analysis consists
of main elements, these are:
36
Market Selection
In this section, author will only focus on the market selection decision process which
is one of the most important stage of firm’s internationalization process⸺ without
regard to the mode of entry selected by firms (according to Brewer (2001) in Toften
& Hammervoll, 2011)⸺ and is critical for firm’s future success (Rahman, 2003;
Gaston-Breton & Martı´n, 2011; He & Wei, 2011 in Marchi, Vignola, Facchinetti, &
Mastroleo, 2014).
Before selecting which market to enter, firms need to understand first what
kind of customer they want to serve which can be done by market segmentation.
Through market segmentation, firms can divide large, homogeneous markets
available throughout the world into smaller segments or groups that can be reached
more efficiently with products and services that suit the best with their unique
needs (Kotler & Armstrong, 2011). According to Sofjan Assauri (2015) in Ahmadi
& Herlina (2017), market segmentation is an action of dividing the market into
different types of groups based on their characteristic. Each group will be treated
38
differently by the firms⸺ in terms of the marketing mix strategy⸺ in order to have
the best way to deliver the value of their products or services into the market.
According to Ahmadi & Herlina (2017), segmentation is a marketing process
which cannot be underestimated by firms since its crucial for their future success.
With segmentation, firms would be able to alocate their resource accordingly and
focus on which market they want to enter. Segmentation also gives a more clear
view regarding the firm’s competency and position in the market. Thus, according
to Kotler & Armstrong in 2011, there are four major types of segmentations, these
are:
For it can be the key determinant that will affect the success or failure
of a company, especially in the early stages of internationalization.
The decision of the selected countries can influence the nature of
foreign marketing programs that will be applied in foreign countries.
39
With that said, Andersen and Strandskov (1998) in Ozturk, Joiner, & Cavusgil
(2015), defined international market selection (IMS) as “the process of
establishing criteria for selecting (country) markets, investigating market
potentials, classifying them according to agreed criteria and selecting which
markets should be addressed first and those suitable for later development.”
Papadopolous & Denis in 1988 (in Musso & Francioni, 2014) introduced
two traditional approaches to the IMS process, they are the systematic approach⸺
which analyzing the potential foreign market using a formalized decision process
including statistical methods⸺ and non-systematic approach which believes in
rule of thumbs and selecting the foreign market where usually without involving a
heavy consideration on a specific method. The systematic approach also can be
considered as a stage-wise process of IMS that covers several decision-making
activities such as problem identification, define the choice criteria, weight the
criteria, generate alternatives, rate the alternatives, and compute the optimal
decision. On the other hand, the non-systematic approach focuses more on how
firms actually select their foreign markets where usually concerning the well-
known concept, the psychic distance of Uppsala Internationalization Model
(Toften & Hammervoll, 2011). According to Johanson and Vahlne in 2009 (in
Marchi, Vignola, Facchinetti, & Mastroleo, 2014), psychic distance became more
of a core concept to IMS process if the knowledge regarding the international
markets are limited and there is also a high degree of uncertainty. Though
afterwards, the company would be able to operate internationally with a greater
psychic distance and greater differences in language, education and business
practices, if they already gain enough knowledge and experience regarding the
international markets (Francioni, 2014).
in the external environment rather than go with the proactive systematic decision
in choosing their foreign market. But still, the firms who are choosing to implement
a systematic sequence of steps in IMS showed a better performance in terms of
duration of export, number of markets served and number of the market share, and
in term of technology obtained (Ozturk, Joiner, & Cavusgil, 2015).
Source:www.strategicmanagementinsight.com (2018)
As soon as the company selected their foreign market, the next question that is
needed for the company to answer is how to enter those targeted foreign market.
According to Hollensen in 2017, there are three main types of market entry mode based
on the degree of the control, risk and flexibility. They are export modes (low control,
44
low risk and high flexibility); intermediate modes (shared control and risk, split
ownership) and; hierarchical modes (high control, high risk and low flexibility).
Export modes are known as the most common mode for companies to initiate
their expansion into international markets. This entry mode was chosen by companies
to initiate their foreign business activities because of the characteristic of the export
modes itself as it is low risk, requires less commitment, and the company gets to
introduce their brand to the foreign market (UK Essays, 2013). Hence, according to
Johanson and Vahlne in 1977 (in Chabowski, et al., 2018), exporting is the initial step
in an “establishment chain”, where the term “establishment chain” signifies the usual
step taken by firms that wanted to do internationalization. These steps are exporting,
formal market enrties through intermediaries, investment in company-based owned
sales organizations, and manufacturing in international market.
A direct export method occurs when the manufacturer or the company sells
their products directly to an importer or buyer located in a foreign market area
(Hollensen, 2017:372). The importer or buyer mentioned includes foreign-based
agents or distributors.
2.5.1 Agents
2.5.2 Distributors
Firms can get the advantage of doing direct export through both agents
and/or distributors since these channels are familiar with the local market, customs,
have existing business contacts and employ foreign nationals.
46
Internal External
In-depth Interview
Thus, according to Malhotra (2015:61), there are three basic research designs that
is commonly used in marketing research. These are exploratory research, descriptive
research and causal research. Exploratory research design aims to provide an insight
as well as further understanding regarding the problem that is confronted by the
researcher, therefore exploratory design does not intend to give a conclusive
finding(s). Brown (2006:45) stated that exploratory research “tends to tackle new
problems on which little or no previous research has been done.”
Descriptive research known as a research design with its major objective is to give
a description of an issue⸺ usually concerning the market characteristic⸺ which also
provide a conclusive finding (Malhotra, 2015:63). Usually, descriptive studies are
performed to answer the how, who, what, when and where questions of a specific event
(Lambert & Lambert, 2012).
Other than two research design mentioned above, according to McDaniel and
Gates (2015), there is also causal research design which the purpose of this research is
to examine whether the value of one variable cause an effect or determines the value
of another variable. Malhotra (2015) also add that causal research design is applied to
gain evidence of cause-and-effect (causal relationship).
Hence, for this research, both descriptive and exploratory research design is
adopted to help the researcher acknowledge the firm international competitiveness
before entering the global market and assist the development of a model that can be
used during the international market selection process of PT Sido Muncul Tbk.
47
48
The particular method chosen for a research study depends on the way which the
research will be carried out and analyzed. Thus, a qualitative approach was
implemented in the process of conducting this research. According to Denzin and
Lincoln (2000) in Mayer (2016), qualitative research is a study in which the researcher
attempts to make sense or interpret a phenomenon in their natural settings, turning the
world into a series of representations involving field notes, interviews, conversations,
photographs, recording and memos to self. The distinctive aspect of quantitative and
qualitative research approach is that while quantitative research approach focus on
quantification in data collection and data analysis, qualitative research are more
emphasizes at words (Mayer, 2016).
given point of time before the data are analyzed. While longitudinal design is type of
research which involved a repeated analysis on the same sample of population or same
variable.
Hence, this research was conducted as a cross-sectional study since the data in were
collected just once, over a period of time. This decision followed Aczel in 2016 which
stated the proper method in collecting the data of a case study investigation are using
cross-sectional method which can be carried out by interviewing the experts.
Cross-
O-1 Descriptive Qualitative Sido Muncul
sectional
Herbal
Cross-
O-2 Descriptive Medicine/Supplement
Qualitative
Industry and Sido sectional
Muncul
Cross-
O-3 Exploratory Qualitative Sido Muncul
sectional
O-1 (Objective Number 1): To look out for the international experience or the
internationalization of PT Industri Jamu dan Farmasi Sido Muncul Tbk
In this research, the author using both primary and secondary sources of data.
1. Primary data
According to Bryman & Bell in 2011, primary data are the first-hand data that
is collected mainly for the purpose of solving the current problem at hand, it is more
specific and direct research questions. While according to Sugiyono (2015: 308),
primary source data are given directly to the researcher. In collecting primary data,
researcher might face time-consuming conditions and higher expenditure to make.
Thus, referring to the definitions above, primary data can be concluded as a data that
directly given to the researcher without any intermediaries which can be gathered to
direct interview, survey, or questionnaire.
2. Secondary data
Secondary source data are data analyzed by researcher who not has been directly
involved in the process of collecting the data (Bryman & Bell, 2011). Secondary data
are collected by another party (could be other researcher, organization or company)
for their own purpose and then it is analyzed for the researcher own purpose. One of
the advantage of using secondary data is that researcher will minimize cost and time
with usually faster access to relevant information. On the other hand, using secondary
data also have a disadvantage. It is that the data were originally collected for a different
purpose which may not be perfect for the research questions under consideration.
This research adopts the purposive sampling method in which the respondents for this
particular research were specifically chosen in order to meet the characteristic of the
topic as well as the purpose of this research. There were three respondents in this
research that fit the criteria below:
1. Respondent has an in-depth knowledge of PT. Sido Muncul Tbk and its
international market selection process.
2. Respondent holds a high-level position in management and is an expert
in his or her own field.
Name Position
1. Interview
1. Structured Interview
2. Semi-Structure Interview
3. Un-Structure Interview
In this research, the primary data were collected by the use of semi-structured
interview where the author prepared an interview guideline to questioned the
respondents. The open-ended questions that were prepared for the interview
are based on the existing literature review concerning the internationalization
and the international market selection process of PT Industri Jamu dan
Farmasi Sido Muncul Tbk.
2. Questionnaire
1. Documents/Literature Study
Hence, before conducting this research and the interview process, a literature
study was done by the author to gain more knowledge and insight of the
theoretical foundation in this research and other information related. The
material collected by the author are gathered from published literature or
54
document in both online and offline platform such as journal, book, annual
report, article, website and other related sources.
In this research, the author implements the “Analysis Interactive Model” by Miles,
Huberman, & Saldaña (2014) which the analysis of qualitative data is divided into
three steps namely, (1) data condensation, (2) data display, and (3) conclusion
drawing/verification.
a. Data Condensation
Analysis 3rd Edition: A Method Sourcebook (2014), the term used by Miles,
Huberman, & Saldaña is data condensation. The reason behind this term
transformation is that according to them, the term data reduction tend to
weaken or erase something in the process. By using data condensation, they
intend to make the data stronger without losing any during the process.
Coding
According to Miles, Hubeman, & Saldana (2014), coding is
considered as part of data condensation implementation that helps
the researcher to retrieve the most important material, assemble
chunks of data that go together, and further condense the raw data
collected into readily analyzable units. Coding requires the
researcher to be heuristic, which means the researcher needs to
read the content of the data carefully and identify the core
meaning of the data.
b. Data Display
The next step in analyzing qualitative data is the data display. Data
display is an organized, compressed compilation of information that
generates conclusion-drawing and action-taking (Miles, Huberman, &
Saldaña, 2014). According to Miles and Huberman (1984) in Sugiyono
(2015:339), “the most frequent form of display data for qualitative research
data in the past has been narrative text.” Other than using narrative text as
a way to display the data, researchers can also use graphs, matrices, charts
and networks. A good display of data could help the researcher to recognize
56
c. Conclusion Drawing/Verification
According to Moleong (2005) in Djaelani (2013), there are four criteria that is
needed to be check in order to validate the data. These are:
57
1. Credibility
In order increase the credibility of the data, there are several actions that
can be carried out during the research including; (a) Extend the duration
of the research; (b) Observation on the detail; (c) Triangulation or data
assessment through comparing the data from several sources; (d) Uncover
the tentative or final result of the research through analytic discussion with
colleagues; (e) Collecting and study a negative cases related with the
analysis which shows a different or opposite argument as a comparison;
(f) Compare the result with other research’s result; (g) Data examination,
interpretation, and conclusion with other party from the research.
2. Transferability
3. Dependability
Dependability refer to the result of the research that shows the consistency
of the researcher in collecting the data, condense the data, and forming the
theme of the research in interpreting the data before drawing the
conclusions.
4. Confirmability
Just like its name, confirmability refer to the outcome of the research
whether they corresponds with the actual data in the field or not. This can
be done by confirming the result of the research with the outsider of this
research or those who was never involved with the research during the time
of that research is conducted.
58
CHAPTER 4
RESEARCH AND DISCUSSION
PT. Industry Jamu dan Farmasi Sido Muncul, Tbk (Herbal Supplement and
Pharmaceutical Industry of Sido Muncul Corporation) or commonly known as Sido
Muncul, is currently the leader of Indonesian traditional herbal medicine (jamu)
products with its well-known brand Tolak Angin and Nature’s Blessing. In this highly
competitive era of herbal supplement industry competition, Sido Muncul manages to
achieve the highest market share with a decent reputation as the biggest herbal
supplement company in Indonesia. The journey of Sido Muncul to reach this success
and attain a “Go Public” position in Indonesia Stock Exchange (since December 2013),
began from 1940 in Yogyakarta, Central Java.
The story began when the married couple, Siem Thiam Hie (born on January
28th1897) and his wife Mrs. Rakhmat Sulistio (born on August 13th1897 under the
name Go Djing Nio), starts their first attempt to open a Melkrey business, which was
a big dairy enterprise in Ambarawa at that time. In 1928, after the World War I, there
was a severe worldwide economic depression⸺ known as The Great Depression⸺
which forces the business to liquidate and make the couple relocated to Solo, in 1930.
Without any intention of giving up, the couple opened up a bakery shop called “Roti
Muncul.” Five years later⸺ with Mrs. Rakhmat Sulistio’s skill in processing herbs
and spices⸺ they finally decided to start herbal supplement business in Yogyakarta.
59
60
In 1941, the couple started to put their focus on formulating their first
product⸺ Jamu Tujuh Angin⸺ which now the market knew it as Jamu Tolak Angin.
As the second Dutch colonial war took place in 1949, the couple has to relocated once
more to Semarang where they establish the herbal supplement (jamu) business named
Sido Muncul in 1951, which means “a dream come true.” Precisely in Jalan Mlaten
Trenggulun No. 104, this home-industry an herbal supplements business had begun
with the help of three people employees.
Figure 4-2 The First Product of Sido Muncul, Jamu Tolak Angin
As the demand number of a jamu with more simple and handy packaging keeps
on increasing, Mrs. Rakhmat Sulistio was encouraged to produce Jamu Tolak Angin
in a powder formula. In 1970, a commanditaire vennootschap (CV or Persekutuan
Komanditer) was established under the name of CV Industri Jamu & Farmasi Sido
Muncul. And then in 1975, CV Indsutry Jamu & Farmasi Sido Muncul transformed
into a limited liability company (LLC or in Indonesia known as PT) under the name
PT. Industry Jamu & Farmasi Sido Muncul, where all the businesses and the assets of
the CV was combined and continue under this limited liability company.
Throughout its journey, the company manages to gain a decent growth of sales
number and thus the factory⸺ which located in Jalan Mlaten Trenggulun⸺ was no
longer able to support the production capacity needed. Hence, as the second generation
of the founder of PT. Industri Jamu & Farmasi Sido Muncul, Desy Sulistio decided to
move the factory to a small-sized industry area in Jalan Kaligawe Semarang in 1984.
61
To anticipate the rapid growth of the future, Sido Muncul decided to build more
plant, bigger and more modern. As a result, in 1997 the first stone to a groundbreaking
of the new plant was placed in Klepu, Ungaran, by Sri Sultan Hamengkubuwono X
and witnessed by the General Director of Food and Supplement Supervision at that
time.
In 11th November 2000, this new, 30-hectare factory located in Klepu, Bergas
District, Ungaran was inaugurated by the Minister of Health and Social Welfare of the
Republic of Indonesia. And during the occasion, Sido Muncul received two certificates
at once, they are CPOTB (Cara Pembuatan Obat Tradisional yang Baik) which
represents an excellent way of producing traditional supplements, and CPOB (Cara
Pembuatan Obat yang Baik) which also indicates a good manufacturing for
supplements that has been equivalent to the pharmaceutical standard. With these
certificates, Sido Muncul became the only herbal supplement (jamu) company that has
the same standard as the pharmaceutical industry does.
As a company that has been established since 1951, Sido Muncul now becomes
an herbal supplement company equipped with sophisticated technology to deliver the
best product for its consumers, and thus giving a positive value for the society. As time
goes by, Sido Muncul keeps on expanding their business which originally the company
only focuses on herbal supplement (jamu) products. In 2004, the company establishes
a new division named “Food Division” concentrating on producing a healthy food,
beverage & energy drink. The first product launched from this division is “Kuku Bima
Ener-G” energy drink, followed with Tolak Angin in a candy form as well as Jahe
Wangi and Kunyit Asam (Ginger and Turmeric Acid) sweets. Next, the “Food
Division” also released healthy drink such as Sido Muncul Vitamin C-1000, Kuku
Bima Ginseng Coffee, Sido Muncul Ginger Coffee, Alang Sari Plus and Colla Mill.
Later on, Sido Muncul announced that there are several flavors offered for Kuku Bima
Ener-G energy drink, they are grape flavor, guava, orange, pineapple, coffee, mango,
milk soda, and Kuku Bima Ener-G with Vitamin C.
62
Sido Muncul today, has manage to export their product to several countries
across the globe including Malaysia, Singapore, Brunei Darussalam, Australia, Korea,
Nigeria, Hong Kong, USA, etc. With a total of 122 distributors across the nation, per
November 18th2013 this family company determined to achieve a higher position in
the society by becoming a public company (Tbk), aiming for a long-lasting existence
in the industry. This improvement changes the name of Sido Muncul into PT. Industri
Jamu dan Farmasi Sido Muncul, Tbk and put the title “largest herbal medicine plant
in Indonesia” above it.
While holding onto their vision, PT. Industri Jamu dan Farmasi Sido Muncul
Tbk has the mission to:
The figure above shows the shareholder of PT. Industri Jamu dan
Farmasi Sido Muncul Tbk with its subsidiaries. As presented, the majority of
PT. Industri Jamu dan Farmasi Sido Muncul Tbk owned by PT Hotel Candi
Baru which is owned by Hidayat Family (81percent of total shareholder),
which is the main family of the founder of Sido Muncul, and the other
19percent share owned by the public. The company also owned three
subsidiaries which are financially reported in the company’s consolidated
financial reports. Those three subsidiaries are:
Table 4-1 Subsidiaries of PT. Industri Jamu dan Farmasi Sido Muncul Tbk
2 PT. Semarang
Herb In operation
Herbal 99.99% 2012
Extraction
Indoplant
Appointed as Commissioner of the Company since 1972 and reappointed for the same
position in May 2016. His previous experience is as follow:
Joined Sido Muncul since April 2014 as the investor relation and business
analyst. Mr. Billy Utama finished his Bachelor degree in Bina Nusantara University
majoring in accounting in 2010 and his Master degree majoring in financial analysis,
still in Bina Nusantara University (Binus Business School) holding the title of Magna
Cum Laude, in 2012. His previous experience in this field includes:
Informal Additional
Theme Interview Questionnaire Document
Opinion Information
The demand
number of
jamu
The industry in
respondents Indonesia is
The increasing in
agrees that the
Comeback any
trend of a
of ‘Back to categories
healthy and
1. Nature’ and including - Valid
‘back to
‘Healthy medicines,
nature’
Lifestyle’ cosmetics,
lifestyle is
Trend and food &
happening
around them beverages
due to the
people’s
awareness
regarding a
70
more healthy
lifestyle
The
conditions of
herbal
medicine/sup
The majority
plement
of the
industry in
respondents
Indonesia
Indonesia’s claimed that
from the
Herbal they has been
2. documents - Valid
Medicine consuming
review
Industry jamu or other
correspond
herbal
with the
medicines
explainations
before
came from
the
interviewed
informants
All the
PT Sido informants
Muncul Tbk stated that
recently currently,
boost their PT Sido
export Muncul is
activities by focusing
establishing in their
marketing export
office in The activities
Export
Philippines to
4. Activities of - Valid
and introduce
Sido Muncul
established jamu as
company’s Indonesia
subsidiary in n brand in
Nigeria in other
order to country
increase the and boost
export their
contribution export
to their sales contributi
on to the
72
company’
s sales.
From the table above, the author finds that the four themes mentioned was a
valid theme with the reasons as follow:
that currently, Tolak Angin of Sido Muncul holds the biggest market share in
jamu for prenventing colds segment.
4. Export activities of Sido Muncul also a valid theme. Based on the interview
done by the author, all the informants mentioned that currently, PT Sido
Muncul is in the process of boosting their export activities where according to
them, the foreign market is a room of opportunity for them to grow in
international expansion. This theme also supported by the documents review
where the author finds that Sido Muncul recently expand their international
activities by establishing a marketing office in The Philippines as well as
establishing a company’s subsidiary in Nigeria.
Secondary data analysis from several sources mentioned above not only helps
the author before conducting the interview, but also support the data gathered by the
author in order to ensure the data displayed in this research is valid.
4.7.1 Interview
The primary data in this research was gathered by the author using the
interview method. The questions prepared by the author were entirely based on
the objectives of this research including the topic of internationalization;
national, firms’ and industry competitiveness; and the international market
selection criteria of PT Industri Jamu dan Farmasi Sido Muncul Tbk. The data
gathered will be analyzed further in order to answer the questions arose from
this research.
from the export department of Sido Muncul, one person is in charge in their
investor relation, and another one comes from the owner family which also part
of the board of commissioner.
4.7.2 Documents
4.7.3 Questionnaire
Gender
35 32
29
30 27
25 22
20
15
10
5
0
Gender Pernah Mengkonsumsi Obat
Herbal/Jamu
Female Male
The figure above shows the gender difference between the respondents
of the questionnaire and its relevance on their past experience whether they
already used herbal medicines/supplements before or not. As can be seen, the
questionnaire consists of total 59 respondents which contain 32 female
respondents and 27 male respondents. Out of those 59 respondents, 51 of
them claimed that they have already used herbal medicines/jamu before,
which contain 29 females and 22 males. From this data, the author concludes
that the herbal medicines/jamu are mostly consumed by females which can
be seen from the difference between the proportion of female consumer from
total female respondents and the proportion of male consumer from total
male respondents. In other words, only 3 out of 32 (9.38 percent) female
respondents which never consume herbal medicines/jamu before while there
are 5 out of 27 (18.51 percent) male respondents which never consume herbal
medicines/jamu before.
Yes No
15
10
5 5 4
5
0
Profession
Based from the research done by interviewing the three informants from Sido
Muncul, the author manages to develop the key themes mentioned before where these
themes arose from interview session supported with secondary data analysis, and
questionnaire.
“…jadi semakin kesini itu awareness orang terhadap nature, back to nature,
living healthy, itu semakin tinggi. Itu yang pertama, yang kedua dari sisi
tingkat Pendidikan juga sekarang sudah semakin tinggi, dan yang terakhir dari
sisi teknologi juga semakin maju. Teknologi ini terkait dengan akses informasi.
Jadi emm apa hal ini membuat ya kalo akses informasi dari sisi awareness itu
semakin dapet gitu, semakin meningkat. Orang mau cari informasi apa tinggal
google, internet dimana- mana, mau cari kegunaannya bahan herbal ini juga
tinggal google, bentuknya seperti apa tinggal google, rasanya seperti apa
tinggal google. Nah jadi itu awareness nya semakin tinggi. Nah dari sisi bisnis
nya tentu ini semakin potensinya bagus. Eemm dibanding kalo produksi
produk-produk supplement yang chemical sifatnya…” (Carlo Lukman)
“…trend kedepannya adalah konsumen mau sesuatu yang lebih safe, sesuatu
yang lebih natural, kayak trend back to nature gitu-gitu itu yang lebih saya
bilang sih lagi on going lah. Even di amerika pun penggunaan chemical drugs
itu lumayan berkurang. Kayak misal di jepang juga dokter-dokter sana juga
udah bikin prescription untuk eee obat-obat herbal…” (Billy Utama)
The answers above emphasize the topic of the trend of a healthy lifestyle. The
awareness of the majority of people regarding the ‘back to nature’ and ‘living
a healthy lifestyle’ is improving as the education and technology aspect are
also increasing. With a shift in the technology, people would get an easy access
to information regarding the use, taste, and the form of herbal ingredients. And
why would the education degree supported people to live a healthy lifestyle?
The higher degree of education will affect the degree of their awareness into
what is good for their body and what is not. A higher degree of education also
helps the people regarding the know-how to access all the information needed
using the technology that is also increasing. Thus, education and technology
79
are two things that correspond to each other in affecting the trend of a healthy
lifestyle.
The informants from Sido Muncul also stated that with a shift in the
majority of people’s preference to use natural ingredients⸺ including in
medicines⸺ decrease the use of a chemical drugs and increase the use of herbal
medicines. Also, according to one of the informants from Sido Muncul the
prescription of using herbal medicines in other countries also improving
including, Japan and The United States of America.
This argument also supported with the result from a questionnaire taken
by 59 respondents which distributed online.
40
30
20
10 4 2
0
Is healthy lifestyle is happening around you?
Yes No Maybe
From the result above, the figure shows that from the total of 59 respondents,
53 out of them are agree with the healthy lifestyle trend that is happening again
for the past few years while the other four are disagree, and the other two are
remain neutral. According to those who agree with this statement, the trend of
healthy lifestyles is represented with various phenomenon for example, a lot of
healthy-concept restaurant and facilities (e.g. fitness center, aerobics class,
yoga class) established that encourages people to manage their own body shape
and their well-being.
80
There were also lots of statement from the respondents that agree with
this comeback of healthy lifestyle is because of an improvement in people’s
awareness regarding the risk of taking chemical medicines. The respondents
also agree that with a shift in technology development, people now have an
easy way to access everything, and mostly, the information. With an easy
access of everything, people would get information easily from one chat room
to another, or from a news platform. Any kind of information could be obtained
with this access including why should people starts to live more of a healthy
lifestyle than before. Hence, this data collected from 59 respondents supported
the statement of the informants from Sido Muncul that the comeback of a
healthy lifestyle is really is happening nowadays.
4%
30%
66%
The number above shows the sales number of PT Industri Jamu dan
Farmasi Sido Muncul Tbk in the first quarter in 2018. From three segments of
product sold by Sido Muncul, the herbal and supplement segment has the
biggest contribution for the company in the number of 66% from total sales of
the company. Thus with this number, it is proved that the consumption of
herbal medicines in Indonesia are still in a good number.
In light of this matter, therefore the resources for this industry are
abundant. Players in this industry basically can get their raw material easily to
formulate jamu or other traditional medicines.
“…bahan bakunya tuh emang semua ya, yang khusus herbal ya, itu semua
bahan baku utama tanam-tanaman itu hampir mungkin 90-95 persen itu
diambil dari Indonesia. Lokal. Ntah yang dari Jawa, Kalimantan, Sumatera,
itu kita ambil semua local resources gitu. Jadi ya saya setuju gitu kalo
misalnya emang menjajikan, ya menjanjikan. Source nya gampang, resource
untuk raw materialnya juga gampang…” (Billy Utama)
The statement above comes from one of the informants from Sido Muncul
which also agree with the abundant resources⸺ especially for its
biodiversity⸺ in Indonesia. According to him, the access to the raw materials
in Indonesia is rather easy, which makes 90 to 95 percent of their raw material
are purely form local resources that came from Java, Kalimantan, and
Sumatera.
“…barriernya tuh yang paling tinggi tuh justru menurut saya bukan modal.
Menurut kita bukan modal, melainkan resep dan formulasi. Gitu. Kalo modal,
sekarang industry jamu di Indonesia itutuh lumayan fragmented, maksudnya
fragmented tuh umm terdiferensiasi sama industry-industri jamu yang kecil
yang jamu-jamu rumahan. Nah itu sangat banyak tuh industry indsutri jamu
rumahan indsutri kecil yang rumahan…” (Billy Utama)
" …core bisnis kita jamu, jamu itu indentik dengan resep nenek moyang. Jadi
yang paling, high entry barrier yang paling tinggi menurut kita itu ya mungkin
salah satunya itu adalah resep…” (Billy Utama)
“…Entry barrier nya adalah resep jamu yang merupakan heritage formula
yang terbukti khasiatnya…” (Johan Hidayat)
The statements above emphasize the barrier of entering the herbal medicine
industry in Indonesia. It is true that capital is part of things that needs to be
considered to enter any kind of industries. In this industry though, the hardest
barrier to be passed through is the formula and recipe of the herbal medicine
itself which indicates its efficacy. Thus, an herbal medicine that is not
empirically proved for its efficacy, would have a hard time to compete in this
industry. This argument also supported with the contrast difference between
the number of the Traditional Medicine Industry and the Small Industry of
Traditional Medicine which shown in the figure below.
84
10.40%
89.60%
But then again, with a total 986 players in this industry, the competition
in this industry can be considered as a ‘loose’ competition. The big difference
between two different scales of the player in this industry is the main reason of
why herbal medicines jamu industry does not have a fierce or tight competition.
Data from Euromonitor, in 2017 the herbal medicine industry in Indonesia is
still dominated by domestic products including, Tolak Angin from Sido
Muncul, Antangin from Deltomed, and Diapet for Soho Pharmacy.
“…kita pertama dari sisi government support sangat sangat support. Kenapa?
Karena jamu itu part of culture. Indonesian culture gitu. Yang bagian dari
budaya Indonesia which is ga akan mungkin dimatiin lah sama government.
Dulu pernah ada kaya gerakan minum jamu bersama di semua intansi
pemerintah setiap hari kamis kalo ga salah saya lupa di semua instansi
pemerintahan gerakan minum jamu bersama. Ya itu kan part untuk dorongan
industry herbal di Indonesia, kedua dari sisi regulasi, industry jamu tuh ee
85
From the statement above, the government is fully supporting the herbal
medicine industry in Indonesia by not hampering the production of herbal
medicine and “make-things-easier” for the registration process of the
medicines product. For the chemical medicines usually, it would take years to
be registered but for jamu, the registration process can be completed up to only
six months, as long as the products is 100 percent herbal.
“…tolak angin tuh kita ada salah satu head-to-head competition. Deltomed,
antangin. Tapi by far size nya masih jauh. Kayak misal market share kita tuh
50-55 persen, sedangkan deltomed kayak Cuma misal 20-25 persen. Tapi itu
head-to-head…” (Billy Utama)
“…persaingan masih sehat, kami masih memiliki market share yang paling
besar, karena kami adalah pemula dan pelanggan kami cukup setia
menggunakan produk kami…” (Johan Hidayat)
“…Tapi yang membuatkan sido muncul ya balik lagi, core bisnis kita jamu,
jamu itu identik dengan resep nenek moyang…” (Billy Utama)
The statement above agrees that one of the most crucial aspects in
competing in herbal medicine industry especially for jamu is the recipe and
formula. Sido Muncul’s success story is supported with the efficacy of their
recipe especially for their first and most well-known product, Tolak Angin
which specialized in preventing colds. With empirically and scientifically
proved its efficacy, Tolak Angin became the biggest contributor for Sido
Muncul with a total sales 80 percent out of their herbal & supplement product,
and also the strongest product among jamu products for colds in this industry.
Not to mention the strong brand image adhered in Tolak Angin.
“…brand, brand image. Brand image ya kalo kita ngomong tolak angin ya itu
udah kayak indomie lah udah market leader. Pokoknya orang cari mi instan,
orang mau cari kayak umm minum aqua, cari teh carinya teh botol, sama ya
masuk angin minum tolak angin gitu kan, udah di top of mind gitu brand nya
udah kuat…” (Billy Utama)
mineral water and indomie to instant noodle, Tolak Angin has already in the
top of the customers’ mind amongst other brands of jamu especially the one
for preventing colds.
Antangin 6, 12.8%
0 5 10 15 20 25 30 35 40 45 50
structure (section 4.3), handle the distribution of all Sido Muncul products
through an extensive distribution network spread all over the nation.
“…kita yang tadi perusaahan distribusi kita under muncul mekar gitu, itu
national distributor eee muncul mekar itu kita bagi jadi 4 kategori, satu itu
modern trade, modern trade itu kayak hypermart, alfamart, indomart, ya
pokoknya convenience store. Trus kita ada tradisional, tradisional itu wet
market, pasar basah kayak street vendor gitu kayak toko-toko, warung-
warung, pasar-pasar, sama terakhir kita ada medical channel distribution itu
apotek. Nah sido muncul tuh masih kuat dimanasih? Kalo kita ngomong sido
muncul itu kuatnya di tradisional. Karena part of heritage, jamu itukan lebih
kearah tradisional-tradisional lah ya jadi ya kita lebih besarnya di tradisional
market. Nah dari market tersebut kita bagi jadi 3 area, tengah, barat dan
timur…” (Billy Utama)
The figure and statement above represent the distribution channel of Sido
Muncul. The local distributors of Sido Muncul are divided into three categories
namely, the modern trade, traditional trade, and medical channel. Convenience
store and supermarkets are included in the modern trade; street vendor,
traditional market and smaller store are included in the traditional trade; and
drugstore or pharmacies are included in their medical channel. With that, Sido
89
Muncul now has 122 sub-distributors across the nation which makes the
customer can easily access their products wherever they are.
0%
100%
Yes No
“Tidak sulit, karena kami telah bekerja sama dengan banyak kelompok petani
rempah diseluruh wilayah Indonesia.” (Johan Hidayat)
“kita kerja sama sama seratusan kelompok tani. Jadi kita ada kerja sama sama
ratusan kelompok tani yang waktu musim panen, itu kelompok tani tersebut
serratus persen supply ke kita. Jadi kita akan beli di harga berapapun pas
panen, tentunya pas harga lebih murah, pas panen itu kita beli mereka mau
panen berapapun kita beli semuanya gitu. Jadi kita kadang-kadang gapernah
90
merasa khawatir tentang masalah raw material seperti itu. Even kaya misalnya
petani-petani kita misalnya jahe, kita ada source nya di jawa. Even misalnya
kayak yang susah-susah dicari tuh saya juga waktu masuk sini gatau nih ini
ada taneman namanya yang susah-susah, dia bisa metik di Sumatera, atau
Kalimantan, yang mereka tuh akan 100 persen supply ke kita gitu.” (Billy
Utama)
With more than 70 years operating in the herbal medicine industry, Sido
Muncul’s product has already widely spread in all over the countries. In their
business portfolio, there are more than 20 countries that have been penetrated
by Sido Muncul with Tolak Angin and Kuku Bima as their main exported
products.
“…itu exactly. Satu di domestic nya sukses, kita try to earn another new
success story dengan produk yang sama…” (Carlo Lukman)
According to one of the informants from Sido Muncul, one specific reason of
why Tolak Angin and Kuku Bima are chosen to be exported to other countries
is because of their strong position in the domestic market. As mentioned before,
Tolak Angin holds the biggest market share for herbal medicine product
segment which also contribute most of the company’s sales. Thus, with this
success, Sido Muncul wishes to create another success story with the same
product, but in different countries.
91
“licensing kita gak mau karena kita emang mau develop nama brandnya tolak
angin” (Carlo Lukman)
“…nah, yang kedua kalo joint venture gitu gitu kita enggak juga karena kita
sebenernya ga perlu karena kita mampu melakukan sendiri, jadi ya lebih ke
normal export seperti itu” (Carlo Lukman)
“…pasti lebih mudah melalui export, licencing prosesnya mungkin jauh lebih
rumit. Tahap awal harus mengenalkan produk kita dulu sampai benar2
terkenal baru akan mengarah ke licencing” (Johan Hidayat)
“…Emm bisnis modelnya saya tuh eksportnya tuh ada tiga, satu trading, satu
saya sebut semi-marketing, yang ketiga marketing. Gitu. Nah, trading itu apa?
Trading itu ya sheila datang ke saya, saya ada rekan atau mewakili company
di china, saya mau beli. Beli apa? Beli barang a b c. nah harganya a,b dan c
segini-segini. Kuantitinya, minimum order quantity nya segini-segini. Singkat
cerita deal-deal, yasudah. Nih saya jual harga serratus ke sheila. Sheila di
cina mau jual seribu terserah satu juta terserah mau dijual online caranya
terserah mau dijual ke distributor terserah. Its totally beli putus gitu.” (Carlo
Lukman)
and how are they going to market the product. With this kind of business
model, the buyer and Sido Muncul has no sustainability in terms of their
cooperation because Sido Muncul wouldn’t know when is the next
purchasement done by the buyer and Sido Muncul inevitably depends on the
financial conditions of the buyerit is totally one-time transaction. This kind of
business model is not suitable for a big company who wanted to have a
sustainable cooperation between players in the industry however, there is one
advatange in applying this business model and that is, no risk because the
payment is done by the buyer before Sido Muncul ship the products.
“Saya gatau kapan lagi sheila datang ke saya, saya gatau kapan lagi sheila
nanti apa akan berapa lama lagi hubungan. Jadi in terms of sustainability nya
benerbener question mark. Dari sisi kelangsungan produknya juga question
mark. Bagusnya cuman satu. Gada risk. Ya saya minta sheila bayar didepan
sebelum shipment. Untung langsung didepan, gada risk. Dp juga semua
didepan. Itu. Kalo perusahaan mau besar, ini trading gabisa sebagai bisnis
model yang bagus, gitu. Karena ya itu tadi, sustainability nya ga ini misal
tahun 2017 jualan 2 juta US Dollar, 2018 suruh target berapa kan gabisa di
predict. Gabagus. Dan gabisa besar. Karena kita tergantung sama berapa
punya duitnya sheila.” (Carlo Lukman)
“semi-marketing ini sama basically sepreti trading, tapi ada pembicaraan leih
lanjut mengenai support dari kami sebagai principal. Support misalnya gini.
93
Saya jual sama kayak tadi, 100. Lalu saya ngomong ama sheila, saya kasih
support mau gak? So it means that I allocate some of my profit, and I transfer
to you as a promotion. Bisa itu dalam bentuk sampling, bisa sample nya
sendiri, bisa free goods, bisa kasih kaos, atau bolpen, atau pencil, topi, handuk,
whatever it is.” (Carlo Lukman)
“…it means that I give you some of my profits to support you. Take and give
dong? Kamu juga harus kasih sesuatu ke saya dong? Apa itu? Nah itu
sustainability. Jadi kita bicara satu tahun. Misal gua mau kasih lu segini, nah
lu satu taun mau ambil berapa? Gitu. Nah itu dari sisi certainity nya lebih
certain dong?” (Carlo Lukman)
of deficit. But after the downfall, the number of sales growth of Sido Muncul’s
products are expected to grow bigger and bigger.
“nah yang terakhir bisnis model namanya marketing. Marketing ini another
level. Intinya gini, sama seperti semi-marketing ya sama seperti semi-
marketing, tapi tadi untung misal 20 persen kan tadi perusahaan diambil misal
5 persen, nah ini diambilnya kita spending nya 30.” (Carlo Lukman)
“nah itu. Itu bener sekali. Jadi emm ini bener-bener sheila dalam tanda kutip
disetir sama principal. Sheila tolong jualnya di indomart ya, atau alfamart
segala macem, harganya segini, kamu marginnya segiini, kamu harus kasih ke
retailer segini, ke wholesaler segini. Jadi kamu bener-bener disetir. Aku mau
jualan ini, tugas kamu harus availability. Kesekian warung, kesekian took,
kesekian supermarket, itu yang ditarget. Satu toko isinya harus segini gini gini
gini. Jadi kita bener-bener take control of you. So, kita in return apa? Oke saya
akan bikin tv commercial. Tau dong ga murah kan? Nah tv commercial dengan
endorser artis terkenal, sama seperti sini lah. Atlit, whaterver it is, tapi kita
bicara ini country baru, market baru, jadi yang dilakukan adalah pasti tahun
pertama sama tahun kedua pasti suffer. Perusahaan, yakan, nah setelah itu
expected bisa eee besar. Besar sebesar Indonesia.” (Carlo Lukman)
“…Eee yang kecil-kecil datang kesini beli 10 karton, 15 karton untuk ekspor
di hand carry sudah dianggap ekspor. Nah waktu saya masuk ya istilah saya
saya rapihkan aja gitu. Jadi yang begitu-begitu saya gak layanin. Kalo mau
beli ya beli ke pasar pagi atau ke distributor local kami. Jadi kami yang bener-
bener ekspor yang besar. Jadi customer itu shrinking. Jadi yang banyak itu
95
shrinking jadi cuma sekarang 15 country eem tapi secara omzet naik malahan.
Karena yang fokus tadi. Karena ada yang sudah lama trading, long-term
trading partner kan? Ya kenapa gak kita leverage jadi paling enggak semi-
marketing gitu. Eeee nah produk ini produk bagus gitu tolak angin ya jadi kita
sekarang lagi ada projek untuk marketing export marketing bisnis model untuk
negara Philippine…” (Carlo Lukman)
“…jadi sekarang customer tinggal kira-kira tinggal 15an lah gitu. Tapi ya itu
yang bener-bener ya kerjanya kita siapin ini-ini dapetnya lumayan kita
minimum 25 ribu dollar itu di sido muncul itu value standard nya kita. Kecil
itu. Dulu ada yang seribu dollar dua ribu dollar, dibanding 25 ribu kan jauh.
Cuman ya dari sisi ekspor buat company lain mungkin 25 ribu itu peanut tapi
for us its still significant.” (Carlo Lukman)
Country
XX Convenience Store
PT Sido
Supermarkets End
Muncul Tbk Distributor Stores User
XX Pharmacy
Export Retail
Modes Customer
Border
In line with this globalization era, the development of the global economy
is now familiar with such thing as internationalization. The trends of firms
buying, developing, producing and selling products and/or services across the
border⸺ other than their local market⸺ are now considered as common
activities done by various firms from various industries. This practice was done
by the firms usually because of either proactive or reactive motives. By
internationalize, firms would be able to find new customers of their products
and/or services, increase their profitability, broaden their international
experience and expand their market, gain more network and information in the
global markets, and many other reasons.
“…we hope within 5 years (dengan melakukan ekspansi pasar) people already
starting to understand about tolak angin and then in the Philippines becoming
the same with Indonesia. Bukan kita yang cari tapi di pintu kita ngantri
distributor yang tinggal kita pilih.” (Carlo Lukman)
In this research, as mentioned on the title above, the author tries to identify the
internationalization of an herbal medicine company in which holds the biggest
market share in Indonesia and already established for 67 years, PT Industri
Jamu dan Farmasi Sido Muncul Tbk.
2013 precisely in November 18th, in order to gain more trust from their
customer and to increase the sustainability of the company without worrying
that family conflict might interfere in the future, Sido Muncul finally decided
to register their stock to Indonesia Stock Exchange (IDX) and becoming a
public company.
“…Jadi saya join perusahaan ini dua tahun lalu. 2016. Pada saat itu
perusahaan bisa dibilang gak fokus lah ke ekspor. Eee yang kecil-kecil datang
kesini beli 10 karton, 15 karton untuk ekspor di hand carry sudah dianggap
ekspor…” (Carlo Lukman)
This kind of export activity has a very low degree of sustainability for the
company to keep maintain the number of sales of the product in the foreign
markets.
As the company grew bigger from time to time, Sido Muncul’s product
enters the foreign markets through a local trader where usually these local
traders bought a larger number of Sido Muncul’s product along with other
98
“Trader, biasa trader. Trader itu jadi, namanya trader ciri-cirinya itu dia beli
barang banyak. Jadi barang sido muncul ambil 200 karton, barang krupuk
ambil sekian, barang selai ambil sekian, ambil saos ambil sekian digabungin
jadi satu container. Di shipment bareng bareng. Itu namanya biasa trader
begitu. Gitu…” (Carlo Lukman)
The reason of why Sido Muncul sell their products, not only to the domestic
market but also to the international markets, is that other than they wish to
increase their sales number contributed by the export activities, Sido Muncul
also see the potential market from the customer in other country who also agree
with the efficacy of the Sido Muncul’s products, and thus Sido Muncul can
introduce Indonesian heritage jamu to the world. Sido Muncul’s decision to
increase their international activities indicates that they have a good experience
99
needs a relatively large amount of investment. But still, Sido Muncul chooses
their distributor very carefully so that they can have a long-term relationship
and they can focus on those relationships to build a profitable cooperation
between two parties.
The author also finds in this research that the success of Sido Muncul
in the domestic market helps and affects the company in making their decision
regarding the international activities. This finding corresponds with the
discussion in Mo Ziying in 2015, where according to the Establishment Chain
U-Model by Johansson and Wiedersheim-Paul (1975), firms that have the
strong base in the domestic market before operates internationally will supports
the company to maintain their financial stability. If a company financially
stable, this will encourage them to increase their participation in foreign market
activities.
101
- Natural Resources
- Knowledge resources
Back in the days, the use of jamu and other traditional remedies
are perceived to be “outdated” because of its preparation method,
its presentation and even because of its taste. Now, with a shift in
103
- Human Resources
2. Demand Condition
The economic condition of a country is having an impact to the
one industry’s demand condition. In Indonesia, its economic
growth is finally showing their highest number in 2017 since its
downfall in 2014. This improvement is supported by several
elements including an increase in commodity’s price, government
expenditure, and household consumption expenditure (Sido
Muncul, 2017).
Ya Tidak
“Saya akan tetep bilang eee industry herbal ini high barrier
entry gitu. Meskipun yang rumah-rumahan kecil itu bisa, tapi
ga akan sebesar ee sido muncul. Maksudnya kalo untuk menjadi
sebesar sido muncul itu akan butuh waktu yang sangat lama.
Even kalo kamu peratiin kalo beberapa kemaren kan nyonya
meneer aja collapse, yakan, jamu jago juga certain apa berapa
persen market sharenya sama Cuma produk tertentu doang
seperti itu.” (Billy Utama)
paling, high entry barrier yang paling tinggi menurut kita itu
ya mungkin salah satunya itu adalah resep.” (Billy Utama)
Source: The Five Competitive Forces That Shape Strategy (Porter, 2008)
114
4.8.2.3 SWOT Analysis of PT. Industri Jamu dan Farmasi Sido Muncul Tbk
Strengths (internal, positive factors)
1. Efficacy of its formula of Tolak Angin Sido Muncul
2. Utilization of E-Commerce
As mentioned before, with a shift in the technology
especially in business environment opens up an opportunity
for any business players in any industries. With e-commerce,
doing things now can be done only with smartphones and
computers including advertising. People nowadays are lives
side-by-side with their smartphones or laptop. Therefore,
118
First, the author finds that Sido Muncul divided the foreign markets into
segments based on two main aspects, these are the geographic aspect and
demographic aspect. By geographic, Sido Muncul first targeted the countries
120
that are physically and psychically close to Indonesia and that is, the ASEAN
countries. With relatively close geographically, Sido Muncul also perceived
that these markets would have the similarities with the domestic market here
in Indonesia, regarding the demographic conditions. Characteristics such as the
economy, attitudes & taste, lifestyle, and preference are also taken into
consideration by Sido Muncul. That is why, Sido Muncul choose ASEAN
countries as their initial market in allocating their foreign investment. This
statement happens to be proven by the informants interviewed for this research.
“…Nah masuk angin itu related dengan sebenernya mostly dengan eeee apa
negara dengan demografi yang hampir sama. Nah kalo ASEAN itu kan
demografinya sama, preference nya juga sama, taste, sisi eee apa dari ekonomi
nya juga kan pretty much almost the same. Jadi, dari sisi affordability nya very
affordable gitu. Nah penerimaan rasa juga mereka lebih bisa terima, mereka
familiar dengan rasa jahe, kunyit, mint pedes nah kan kebayangkan kalo misal
kita suruh orang yang bule kan pasti apa sempet, waktu itu adasih orang
jepang yang minum dibilang kayak minum mouthwash” (Carlo Lukman)
“…negara yang sdh bisa menerima produk kami, selanjutnya ke negara2 Asia
Tenggara, alasan: habits dan preferensi mirip dengan masyarakat Indonesia”
(Johan Hidayat)
Second, based on the interview done with the informants from Sido
Muncul especially the owner himself and the General Manager of Export
Department of Sido Muncul, the author manages to pinpoint further regarding
the criteria used for each market segmentation done by Sido Muncul in order
to select their international markets. Starts with the geographic segmentation.
As mentioned before, Sido Muncul focuses on entering the neighboring
countries of Indonesia⸺ the South-East Asia countries⸺ to allocate their
investment through marketing activities. The reason for why Sido Muncul
chooses to segment their potential market geographically is because of the
121
“iya pedes dan terlalu thick buat mereka ya something new, gak common lah.
Kembali lagi, apakah kita gak mau masuk kesitu? Ya mau cuman ya namanya
target market negara yang besar sekali harus namanya skala prioritas dulu.
Jadi ya saat ini fokusnya ASEAN…” (Carlo Lukman)
“yo ee nanti gini, kalau kita sudah strong di asean, kan tadi itu ya keyword
nya kan priority. Nah setelah kita strong di asean parallel juga kita akan
explore negara-negara lain starting dari bukan eropa sih tapi dari middle east.
Di eee UAE, Pakistan, kan harus kita secure satu halal certificate, kalo kita
sudah punya halal, that is the second step, and then goes to Africa…” (Carlo
Lukman)
Hence, from the statement and analysis above, the author concludes that the
way Sido Muncul choose their international market in this early step and the
way of thinking of the company correlated with the findings by Ojala (2015)
in which stated that the greater the psychic distance to an international market,
the more time and resources that is required to build the network that will
reduce the uncertainty caused by the distance.
Third, after Sido Muncul segment their potential markets into ASEAN
countries, the author also found the next criteria considered by Sido Muncul
that is, the population of the potential target market. According to Decuseară
(2013) as one of the macro-oriented analysis before selecting a target country,
122
the number of population is affecting the market size. In respect with the
demographic growth, the larger number of one country’s population can lead
to a larger scope of the demographic segmentation. Thus, this consideration
also part of the criteria used by Sido Muncul in choosing their foreign markets.
This was proven with their recent investment in 2017 at The Philippines where
according to International Monetary Fund (2018), The Philippines holds the
second biggest population among ASEAN countries after Indonesia in 2017.
200
150
105.305 93.643
100 69.095
52.645
50 32.05
16.013 6.68 5.612
0.429
0
ASEAN Countries
“…ya namanya target market negara yang besar sekali harus namanya skala
prioritas dulu. Jadi ya saat ini fokusnya ASEAN dan tentunya ASEAN starting
dari penduduknya yang paling besar…” (Carlo Lukman)
“ya kalo ada yang serratus juta penduduk yaa im not going to enter Singapore
yang lima juta penduduk gituloh. Buat apa. Kan inikan masuknya maunya
dalam artian marketing bisnis model tadi itukan. Itu dulu loh ya jangan yang
trading atau yang lainnya” (Carlo Lukman)
123
Finally, after analyzing the criteria used by Sido Muncul in selecting their
foreign markets, the author found that Sido Muncul follows the traditional
international market selection process with a non-systematic approach by
Papadopolous & Denis in 1988 (in Musso & Francioni, 2014) rather than
systematic approach. This conclusion was reached because of their decision
regarding the international market that was heavily affected by the psychic distance
among countries. Thus, this argument support the statement regarding in a real-life
situation, psychic distance became more of a core consideration in international
market selection process when the company has a limited amount of knowledge
and experience in the international area, according to Johanson and Vahlne in 2009
(in Marchi, Vignola, Facchinetti, & Mastroleo, 2014).
As this proposed screening method is a new thing for Sido Muncul, the
author wishes to keep this screening process to be as simple as it can be Hence, the
author suggest a two semi-structure screening model⸺ where only the searching
part is apporoached methodically⸺ and consist of preliminary screening and fine-
grained screening. The author basically adopt this model from a research done by
Górecka & Szałucka in 2013 which concerning the country market selection
process in international expansion of a leading manufacturers and suppliers of
sanitary articles, cosmetics, and medical devices and from a research done by
Decuseară in 2013 concerning the market selection of commodities containing
polyether polyols to Central and Eastern Europe using GE/McKinsey Matrix. The
basic theory for each step on this model is already explained in the chapter 2.
124
Preliminary Screening
This is the first stage of the model. At this stage, the author
establishes two ‘knock-out’ or ‘go/no-go’ criteria based on the interview
with the informant from Sido Muncul. This preliminary screening goes like
this: if one or more countries did not meet one or both of these criteria, then
those countries would immediately ‘kicked-out’ and won’t be done any
further analysis on these countries. Hence, in this first stage of the screening
process, two major knock-out criteria were recognized, these are:
Fine-Grained Screening
In this next step, the author use the GE/McKinsey matrix to evaluate
the market or country attractiveness and its relationship with the
competitive strength of the firm. Researcher believes, that GE/McKinsey
matrix is a very efficient tool to help companies select their foreign
markets. The reason for the author choose this model is because, with this
matrix Sido Muncul would acknowledge which are the countries that may
offer the best opportunity for a long-term strategic development; which are
the countries that may offer an opportunity, but there still might be a
political or economic risk that is perceived to be too high for a long-term
strategic development; and which are
125
The countries that have the highest risk amongst all and therefore
the resource relocation is minimal (Decuseară, 2013).
Population
(million 16.013.000 6.680.000 32.050.000 52.645.000 69.095.000 93.643.000
people)
Consumer
Spending 17.412,42 13.162,92 212.321,41 - - 166.809,99
($)
GDP real
growth 6.9 6.8 5.9 6.7 3.9 6.8
rate (%)
Imports
(% of 64.2 41.5 64.4 - - 98.8
GDP)
Lao
Indicators Weight Cambodia Malaysia Myanmar Thailand Vietnam
P.D.R
GDP
growth 0.15 0.75 0.75 0.6 0.75 0.45 0.75
rate
Lao
Indicators Weight Cambodia Malaysia Myanmar Thailand Vietnam
P.D.R
Product
Quality
0.3 1.2 1.2 1.2 1.2 1.2 1.2
Product fit
to market 0.3 1.2 0.6 1.5 0.6 0.9 1.2
demand
Managerial
and
0.2 0.4 0.4 1 0.4 0.6 0.6
marketing
staff
Market Attractiveness
High Medium Low
5
Strong
MLY
Vietnam Thai
Competitive Strength
C
Moderate
MY
L
Weak
0
Based on the GE/McKinsey matrix above, there are two countries categorize
in A class countries, two countries in B class countries, and two countries in C class
countries. Malaysia and Vietnam are included in A class countries in which these
countries are the primary markets that propose the best opportunities for a long-term
strategic development Given criteria from Sido Muncul, Malaysia and Vietnam are the
two best potential target market concerning the total population and consumer
spending. As previously mentioned, Sido Muncul prioritizes the total population of
their potential target market. Hence, Vietnam holds the highest rank on population
amongst other countries after the preliminary screening and is the highest number of
population in ASEAN after Indonesia and Philippines. And for Malaysia, according to
the economic indicator table above, Malaysia has the biggest number of consumer
spending which also considered by Sido Muncul as one of their criteria in choosing
international markets. In addition, Malaysia and Vietnam also the biggest number in
128
import’s volume which indicates that those countries are open to goods and/or services
came from abroad.
In C class countries, there are Myanmar and Laos. These are the countries
that categorized as the last option for Sido Muncul to enter. These markets are
perceived to have a high risk but, to allocate resources in these countries can be done
but as minimal as Sido Muncul can. This position match with the criteria from Sido
Muncul where they prioritized the total population in screening their potential foreign
markets. Lao PDR have the least amount of total population in their country compare
to other five. Besides, Lao PDR also possessed the lowest number in imports number
and consumer spending, while the data for Thailand imports number and consumer
spending are not identified by the author.
1. The outcome from this research shows that for the past few years the
way people live their life are affected with the “healthy lifestyle” and
“back to nature” trend in which increasing the consumption and the
utilization of the herbal/traditional ingredients. Thus, with the strength
of Sido Muncul elaborated in this research, combined with the
opportunity in Indonesia’s herbal medicine industry, Sido Muncul have
a big potential in grabbing more of the market share in this industry by
utilizing the e-commerce more effectively.
2. The outcome from this research also shows that the current
internationalization process of Sido Muncul are growing slowly, for
Sido Muncul has not focusing on their export activities until recently.
129
Therefore, Sido Muncul needs to use the fact that their products have
already penetrated several foreign countries, and focus more in
upgrading the export activities in those countries through ‘marketing’
business model.
3. The outcome of this research also found the criteria than can be
considered by Sido Muncul before selecting their international market
which applied in the proposed model of IMS as the findings of this
research.
5.1 Conclusion
1. As the market leader in this industry, Sido Muncul has done many export
activities to the foreign markets as their attempt to gain more sales. Yet,
the internationalization process of Sido Muncul is rather slow, considering
the company has already been operating in this industry for approximately
70 years. In 2017, Sido Muncul has increase their commitment in
international activites by regularly exports their product to independent
representatives in The Philippines and by 2018, Sido Muncul establishes
their first marketing subsidiary in Nigeria. Two most exported products
from Sido Muncul are includes Tolak Angin and Kuku Bima Ener-G
which also holds the biggest market share in herbal supplement as well as
the biggest sales contributor for the company. Hence, the author concluded
that the internationalization process of Sido Muncul is corresponds with
the Uppsala Model of internationalization process which divided the
internationalization process of a firm starts with an incremental step such
as no regular export activities, export via independent representative,
establishment of foreign sales subsidiary, and foreign
production/manufacturing units.
2. In order to identify the international competitiveness of Sido Muncul, the
author employs three different kinds of model. These are Porter Diamond
Model, Porter’s Five Forces, and SWOT Analysis. Therefore, from this
analysis, the author concludes that for the past few years, the trend ‘back
131
132
to nature’ and ‘healthy lifestyle’ are coming back again due to the
improvement in community’s awareness regarding the chemical
ingredients in medicines that might affect their health and also an
improvement in technology where people can access any kinds of
information including concerning the shape, taste, and smell from the
herbal ingredients. Further, in order to enter the herbal
medicine/supplement industry in Indonesia, the hardest and strongest
barrier to conquer is the formula/recipe of the products itself which will
affect its efficacy. Other than the high barrier to entry this industry, herbal
medicine/supplement in Indonesia has a weak bargaining power of both
the supplier and buyer, loose competition in the industry, and weak threat
of substitution for there are only several substitute products for this
industry. Thus, the author concluded that herbal medicine/supplement
industry in Indonesia is categorized as an attractive industry and hence,
supporting the competitiveness possessed by Sido Muncul⸻ such as
strong brand image, massive distribution channel and the efficacy of its
recipe⸻ to compete in international markets.
3. Next, after analyzing the industry competitiveness of herbal
medicine/supplement industry in Indonesia, the author focuses on the
competitiveness of the object of this researc7h which is Sido Muncul.
Before they choose their target markets, Sido Muncul implement three
different kinds of business model which differentiated based on the
amount of the investment allocated in the host countries. Starting from the
least amount of investment, these are the trading, semi-marketing, and
marketing business model. Afterwards, in choosing their target export
market, Sido Muncul took a careful step in choosing the market that is
geographically and psychically close to Indonesia. Thus, the current Sido
Muncul’s short-term plan in expanding their market into another country
is by focusing in ASEAN markets first, before gradually move to another
country with greater distance geographically and psychically. And for that
reason, using the GE/McKinsey Matrix, the author proposes two suitable
countries for Sido Muncul to expand their market by investing through
their ‘marketing’ business model. These countries are Malaysia and
Vietnam.
133
5.2 Suggestion
5.2.1 For the Company – PT Industri Jamu dan Farmasi Sido Muncul Tbk
Several suggestions from the author to PT Industri Jamu dan Farmasi Sido
Muncul Tbk that is arose from this research are:
a. The company to not too focus only on marketing the Tolak Angin
products, but also those that comes from the food and beverages
segment because Sido Muncul actually has numerous kinds of product
in food and beverage segment but the marketing of these products other
than Tolak Angin and Kuku Bima Ener-G are still very few almost
none.
b. The company could try to utilize e-commerce as a respond of the
current trend in consumer goods business which will also makes Sido
Muncul an Indonesian traditional jamu producer, yet still in the same
wave with the globalization.
c. The company could try to enter foreign markets categorized in A class
countries in GE/McKinsey matrix, Malaysia and Vietnam using a
‘semi-marketing’ business model
Aczel, P. (2016). Case Study Method. International Journal of Sales, Retailing &
Marketing , 15-22.
Amadeo, K. (2017, September 11th). How the 9/11 Attacks Still Affect the Economy
Today. Retrieved March 1st, 2018, from www.thebalance.com:
https://www.thebalance.com/how-the-9-11-attacks-still-affect-the-economy-
today-3305536
Amianti, G. (2017, October 11th). Top five ASEAN economies to grow over 5%: IMF
outlook. Retrieved March 7th, 2018, from The Jakarta Post:
http://www.thejakartapost.com/news/2017/10/11/top-five-asean-economies-
to-grow-over-5-imf-outlook.html
Badan Pusat Statistik. (2018, January 15th). Perkembangan Ekspor dan Impor
Indonesia December 2017. Retrieved March 14th, 2018, from www.bps.go.id:
https://www.bps.go.id/pressrelease/2018/01/15/1416/nilai-ekspor-indonesia-
desember-2017-mencapai-us-14-79-miliar-dan-nilai-impor-indonesia-
desember-2017-mencapai-us-15-06-miliar.html
134
135
Bank Indonesia. (2008). Pola Pembiayaan Usaha Kecil (PPUK): Industri Jamu
Tradisional (Pola Pembiayaan Konvensional). Jakarta: Bank Indonesia.
Barus, H. (2015, December 16th). Ekonomi Dunia Masih Melambat Pada 2016.
Retrieved March 12th, 2018, from www.beritasatu.com:
http://www.beritasatu.com/ekonomi/332007-ekonomi-dunia-masih-
melambat-pada-2016.html
BBC Indonesia. (2016, February 5th). Pertumbuhan ekonomi Indonesia menurun lagi.
Retrieved March 13th, 2018, from www.bbc.com:
http://www.bbc.com/indonesia/majalah/2016/02/160205_indonesia_prtumbu
han_menurun
Berita Satu. (2016, July 24th). Penggunaan Obat Herbal di Indonesia Semakin
Meluas. Retrieved February 28th, 2018, from www.beritasatu.com:
http://www.beritasatu.com/kesehatan/376160-penggunaan-obat-herbal-di-
indonesia-semakin-meluas.html
Bryman, A., & Bell, E. (2011). Business Research Method 3rd Method. New York:
Oxford University Press Inc.
Chaabna, S., & Wang, H. (2015). Analysis of the State of E-commerce in Algeria.
International Journal of Marketing Studies, 7, 44-58.
Chabowski, B., Kekec, P., Morgan, N., M. Hult, G., Walkowiak, T., & Runalls, B.
(2018). An Assessment of the Exporting Literature: Using Theory and Data to
Identify Future Research Directions. Journal of International Marketing, 26,
118-143.
Chabowski, B., Samiee, S., & M. Hult, G. (2013). A bibliometric analysis of the global
branding literature and a research agenda. Journal of International Business
Studies, 44, 622-634.
136
Che Maznah Mat Isa, Hamidah Mohd Saman, & Siti Rashidah Mohd Nasir. (2014).
Specific-factors influencing market selection decision by Malaysian
construction firms into international market. Procedia - Social and Behavioral
Sciences, 129, 4 – 10.
Cooper, S. (2017, September). Herbal Medicine Market Size and Forecast, By Product
(Tablets & Capsules, Powders, Extracts), By Indication (Digestive Disorders,
Respiratory Disorders, Blood Disorders), And Trend Analysis, 2014 - 2024.
Retrieved December 14th, 2017, from www.hexasearch.com:
https://www.hexaresearch.com/research-report/global-herbal-medicine-
market/
Decuseară, N.-R. (2013). Using The General Electric / McKinsey Matrix in the Process
of Selecting the Central and East European Markets. Management Strategies
Journal, 19, 59-66.
Deny, S. (2018, January 31th). Jokowi: Ekspor RI Masih Jauh Tertinggal dari
Malaysia dan Thailand. Retrieved March 15th, 2018, from
bisnis.liputan6.com: http://bisnis.liputan6.com/read/3244421/jokowi-ekspor-
ri-jauh-tertinggal-dari-malaysia-dan-thailand
Dobbs, M. (2014). Guidelines for Applying Porter’s Five Forces Framework: A Set of
Industry Analysis Templates. Competitiveness Review, 24, 32-45.
Elfahmi, Woerdenbag, H., & Kayser, O. (2014). Jamu: Indonesian Traditional Herbal
Medicine Towards Rational Phytopharmacological Use. Journal oh Herbal
Medicines, 1-23.
Firenzuoli, F., & Gori, L. (2007). Herbal Medicine Today: Clinical and Research
Issues. Based Complementary and Alternative Medicine, 37-40.
Global Industry Analysts, Inc. (2017, October). Losing Appeal of Chemical Remedies
and Growing Consumer Interest in Herbal Medicine and Supplements Drives
Market Growth. Retrieved March 20th, 2018, from www.strategyr.com:
http://www.strategyr.com/MarketResearch/Herbal_Supplements_and_Remed
ies_Market_Trends.asp
Gog, M. (2016). Case Study Research. International Journal of Sales, Retailing &
Marketing, 4, 33-41.
GOODMAN, P. S. (2018, January 27th). Every One of the World’s Big Economies Is
Now Growing. Retrieved March 2nd, 2018, from The New York Times:
https://www.nytimes.com/2018/01/27/business/its-not-a-roar-but-the-global-
economy-is-finally-making-noise.html
138
Hariyanto, & Firhand. A, A. (2018, April 3rd). Develop Business in Global Market,
Sido Muncul Open Branch in Philippines and Nigeria. Retrieved June 20th,
2018, from industry.co.id: http://en.industry.co.id/read/4749/develop-
business-in-global-market-sido-muncul-open-branch-in-philippines-and-
nigeria
Hewett, K., & Bearden, W. (2001). Dependence, Trust, and Relational Behavior on
the Part of Foreign Subsidiary Marketing Operations: Implications for
Managing Global Marketing Operations. Journal of Marketing, 65, 51-66.
Hewett, K., & Bearden, W. (2001). Dependence, Trust, and Relational Behavior on
the Part of Foreign Subsidiary Marketing Operations: Implications for
Managing Global Marketing Operations. Journal of Marketing, 65, 51-66.
Hutt, R. (2016, January 21st). What are the 10 biggest global challenges? Retrieved
March 1st, 2018, from www.weforum.org:
https://www.weforum.org/agenda/2016/01/what-are-the-10-biggest-global-
challenges/
International Monetary Fund. (n.d.). Retrieved March 1st, 2018, from www.imf.org:
http://www.imf.org/external/datamapper/NGDP_RPCH@WEO/OEMDC/AD
VEC/WEOWORLD
Johanson, J., & Vahlne, J. (1977). The Internationalization Process of the Firm-A
Model of Knowledge Development and Increasing Foreign Market
Commitments. Journal of International Business Studies, 23-32.
Julianto, P. A. (2016, August 30th). Industri Obat Tradisional Mampu Serap 15 Juta
Tenaga Kerja. Retrieved June 26th, 2018, from Kompas.com:
https://ekonomi.kompas.com/read/2016/08/30/155210326/industri.obat.tradis
ional.mampu.serap.15.juta.tenaga.kerja
Kotler, P., & Armstrong, G. (2011). Principles of Marketing 14th Edition. New Jersey:
Pearson.
Kubíčková, L., Votoupalová, M., & Toulová, M. (2014). Key motives for
internationalization process of small and medium-sized enterprises. Procedia
Economics and Finance, 12, 319-328.
Liu, Y., Xu, C., & Zhang, Y. (2010). An Analysis on the International Competitiveness
of China’s Traditional Medicine Industry Based on the SWOT Model.
International Journal of Business and Management, 5, 225-229.
140
Liu, Y., Zhang, Y., & Xu, C. (2010). Analysis of the International Competitiveness of
Chinese Medicine Industry Based on the Diamond Model. International
Business Research, 3, 165-170.
Marchi, G., Vignola, M., Facchinetti, G., & Mastroleo, G. (2014). International market
selection for small firms: a fuzzy-based decision process. European Journal of
Marketing, 48(11/12), 2198-2212.
McDaniel, Jr., C., & Gates, R. (2013). Marketing Research Essentials 8th Edition.
Hoboken, New Jersey: Wiley.
Miles, M., Huberman, A., & Saldaña, J. (2014). Qualitative Data Analysis 3rd Edition:
A Methods Sourcebook. California: SAGE Publications Inc.
Musso, F., & Francioni, B. (2014). International Strategy for SMEs: Criteria for
Foreign Markets and Entry Modes Selection. Journal of Small Business and
Enterprise Development, 21, 301-312.
Oliveira, R., Figuera, A., & Pinhanez, M. (2017). Putting the Uppsala Model Against
the Wall: The Challenges Posed by the Rise of EMNEs. European Journal of
Business and Social Sciences, 6, 63-89.
Özer, K., Latif, H., Sarıışık, M., & Ergün, Ö. (2012). International Competitive
Advantage of Turkish Tourism Industry: A Comperative Analyse of Turkey
141
and Spain By Using The Diamond Model of M. Porter. Procedia - Social and
Behavioral Sciences, 58, 1064 – 1076.
Ozturk, A., Joiner, E., & Cavusgil, S. (2015). Delineating Foreign Market Potential: A
Tool for International Market Selection. Thunderbird International Business
Review, 57, 119-141.
Papadopoulos, N., & Denis, J.-E. (1988). Inventory, Taxonomy and Assessment of
Methods for International Market Selection. International Marketing Review,
5, 38-51.
Papadopoulos, N., & Martı´n Martı´n, O. (2011). International market selection and
segmentation: perspectives and challenges. International Marketing Review,
28, 132-149.
Porter, M. (2008). The Five Competitive Forces That Shape Strategy. Harvard
Business Review, 24-41.
Pukall, T., & Calabrò, A. (2014). The Internationalization of Family Firms: A Critical
Review and Integrative Model. Family Business Review, 103-125.
Putri, N. D. (2018, January 31th). Sido Muncul Bidik Porsi Ekspor Mencapai 5%.
Retrieved June 26th, 2018, from Kontan.co.id:
https://investasi.kontan.co.id/news/sido-muncul-bidik-porsi-ekspor-
mencapai-5
Ragland, C., Widmier, S., & Brouthers, L. (2015). A Factor Endowment Approach to
International Market Selection. Journal of Strategic Marketing, 1-15.
Sido Muncul. (2017). Annual Report of Sido Muncul 2017: Enhancing the Quality of
Life.
Sido Muncul. (n.d.). Sejarah Sido Muncul. Retrieved June 16, 2018, from
sidomuncul.id: http://sidomuncul.id/about-us/sejarah-sidomuncul
Sinha, P., Wang, M., Scott-Kennel, J., & Gibb, J. L. (2015). Paradoxes of Psychic
Distance and Market Entry by Software INV's. European Business Review, 34-
59.
143
Siregar, D. I. (2017, August 9th). Perbesar Ekspor, Sido Muncul Rambah Pasar
Filipina dan Afrika. Retrieved March 20th, 2018, from
ekonomi.metrotvnews.com:
http://ekonomi.metrotvnews.com/read/2017/08/09/741758/perbesar-ekspor-
sido-muncul-rambah-pasar-filipina-dan-afrika
The Ministry of Industry of The Republic of Indonesia. (2017, August 3rd). Industri
Kosmetik dan Jamu Mampu Serap 15 Juta Tenaga Kerja - Dunia Usaha.
Retrieved June 26th, 2018, from Kementerian Perindustrian Republik
Indonesia: http://www.kemenperin.go.id/artikel/17920/Industri-Kosmetik-
dan-Jamu-Mampu-Serap-15-Juta-Tenaga-Kerja---Dunia-Usaha
The Ministry of Trade of The Republic of Indonesia. (2014). Warta Ekspor: Obat
Herbal Tradisional. Jakarta.
The Ministry of Trade of The Republic of Indonesia. (2015, January 13th). Industri
Jamu Berpotensi Tingkatkan Nilai Ekspor Tiga Kali Lipat. Retrieved June
20th, 2018, from Directorate General for National Export Development:
http://djpen.kemendag.go.id/app_frontend/accepted_rsses/view/54b46f51-
e020-4ae5-9390-2c3ec0a83502
The World Bank. (2014, December 9th). Laporan Bank Dunia: Pertumbuhan Ekonomi
Indonesia Pada 2015 Diperkirakan 5,2 Persen. Retrieved March 12, 2018,
from www.worldbank.org: http://www.worldbank.org/in/news/press-
release/2014/12/08/indonesia-to-grow-by-5-2-percent-in-2015-world-bank-
report
The World Bank. (2017, December 14th). Pertumbuhan Investasi dan Ekspor Terus
Memperkuat Ekonomi Indonesia. Retrieved March 8th, 2018, from
www.worldbank.org: http://www.worldbank.org/in/news/press-
144
release/2017/12/14/stronger-investment-and-export-growth-continue-to-
strengthen-indonesia-economy
Thertina, M. R. (2017, November 24th). Ekonomi Kuartal III Lima Negara ASEAN
Melaju, Indonesia Tertinggal. Retrieved March 8th, 2018, from katadata.co.id:
https://katadata.co.id/berita/2017/11/24/indonesia-tertinggal-ekonomi-
kuartal-iii-lima-negara-asean-melaju
Toften, K., & Hammervoll, T. (2011). International Market Selection and Growth
Strategies for Niche Firms. International Journal of Entrepreneurship and
Innovation Management, 13, 282-295.
Uppsala Model, Transaction Cost Theory and Network Model. (2017, February 23rd).
Retrieved April 11th, 2018, from UK Essays :
https://www.ukessays.com/essays/marketing/internationalization-theories.php
Verbeke, A., & Kano, L. (2015). An internalization theory perspective on the global
and regional strategies of multinational enterprises. Journal of World Business,
1-10.
VLAHOVIĆ, M., KAVALIĆ, M., BORIĆ, S., STANISAVLJEV, S., & ĆURČIĆ, N.
(2016). THE IMPACT OF THE NUMBER OF RETAIL OUTLETS ON THE
MARKET SHARE OF CONSUMER GOODS' RETAIL BRANDS.
JOURNAL OF ENGINEERING MANAGEMENT AND COMPETITIVENESS
(JEMC), 36-45.
Wach, K., & Wojciechowski, L. (2014). The Size and the Strategic International
Orientation: The Use of EPRG Model among Polish Family and Non-Family
Firms. Enrepreneurship and Management, 7, 143-156.
Welch , C., & Paavilainen-Mäntymäki, E. (2014). Putting Process (Back) In: Research
on the Internationalization Process of the Firm. International Journal of
Management Reviews, 16, 2-23.
Wesley, A. (n.d.). International Marketing and Export Management 2nd ed.,. reprinted
by permission of Pearson Education Ltd.
Wikipedia. (2018, January 18th). Globalisasi Ekonomi. Retrieved March 21th, 2018,
from id.wikipedia.org:
https://id.wikipedia.org/wiki/Globalisasi#Globalisasi_ekonomi
Wirayani, P. (2015, November 12th). Sido Muncul to Double its Export Revenues.
Retrieved June 20th, 2018, from The Jakarta Post:
http://www.thejakartapost.com/news/2015/11/12/sido-muncul-double-its-
export-revenues.html
World Health Organization - South East Asia Regional Office. (n.d.). Traditional
Medicines in Republic of Indonesia.
Wu, Y., Xiao, X., & Song, Z. (2017). Competitiveness analysis of coal industry in
China: A diamond model study. Resources Policy, 52, 39-53.
Yunna, W., & Yisheng, Y. (2014). The Competition Situation Analysis of Shale Gas
Industry in China: Applying Porter’s Five Forces and Scenario Model.
Renewable and Sustaibale Energy Reviews, 40, 798-805.
Zamroni Salim, Ph.D, & Ernawati Munadi, Ph.D. (2017). Info Komoditi Tanaman
Obat. Badan Pengkajian dan Pengembangan Perdagangan Kementerian
Perdagangan Republik Indonesia.
APPENDIX
P: Peneliti
N: Bapak Carlo
N: silahkan silahkan
N: he em
P: pertama, karena saya membahas ekspor, ee saya mau tanya terlebih dahulu
bagaimana kondisi pasar global unutk produk-produk herbal yang digunakan sebagai
bahan dasar produk sido muncul seperti misalnya jahe, atau kunyit, atau sebagainya
gitu Pak
N: eemm kondisi pasar global tu maksudnya untuk market, potensi market nya atau
dari sisi apa bahan-bahannya?
P: eee apakah dia mempunya potensi yang cukup maksudnya untuk diekspor ke luar
negeri gitu pak he eh
N: ohh he eh gini, jadi semakin kesini itu awareness orang terhadap nature, back to
nature, living healthy, itu semakin tinggi. Itu yang pertama, yang kedua dari sisi tingkat
Pendidikan juga sekarang sudah semakin tinggi, dan yang terakhir dari sisi teknologi
juga semakin maju. Teknologi ini terkait dengan akses informasi. Jadi emm apa hal ini
A1
A2
membuat ya kalo akses informasi dari sisi awareness itu semakin dapet gitu, semakin
meningkat. Orang mau cari informasi apa tinggal google, internet dimana- mana, mau
cari kegunaannya bahan herbal ini juga tinggal google, bentuknya seperti apa tinggal
google, rasanya seperti apa tinggal google. Nah jadi itu awareness nya semakin tinggi.
Nah dari sisi bisnis nya tentu ini semakin potensinya bagus. Eemm dibanding kalo
produksi produk-produk supplement yang chemical sifatnya. Seperti itu. Eemm dari
sisi global ya seperti itu terutama untuk yang eem developing country juga semakin
ini, nah untungnya di Indonesia ini kita kan kaya bahan-bahan tradisional herbal. Jadi
itu ya another advantage. Jadi kalo liat dari hal ini ya jawabannya adalah potensinya
besar sekali gitu untuk ekspor.
P: ooo oke. Mungkin untuk umm untuk sido muncul sendiri pernah ada melakukan
research atau semacamnya yang terkait produk apa saja yang termasuk bahan herbal
dari Indonesia yang paling banyak di ekspor?
N: emm gini. Kita kan eksportir produk jadi, jadi kalo spesifik bahan bakunya kita
gapernah jadi unutk just to be clear dulu. Jadi kalo, gatau saya gabisa jawab berarti
pertanyaan tersebut saya rasa kurang applicable lah buat sido muncul kecuali sido
muncul ini ya raw material company jadi mungkin itu bisa ohh jahe lebih besar
dibanding apa daun cengkeh atau apa gitu tapi untuk sido muncul enggak
P: Oke pak baik. Selanjutnya nih pak untuk sido muncul sendiri kan udah banyak
ekspor, ke 15 negara kemarin saya lihat di beberapa berita. Nah itu eem ada yang
mendominan tidak Pak diantara negara-negara tersebut misalkan berapa persen di
Malaysia, berapa persen di Singapore…
N: oya tentu kalo yang namanya bisnis itu area pasti ada yang dominan marketnya.
Untuk sido muncul dominan marketnya saat ini ya masih Malaysia. Eee karena
relatively penduduk Malaysia itu kebanyakan sudah mengerti akan apa itu jamu. Jadi
udah familiar. Jadi ya saat ini paling besar marketnya ya Malaysia
P: baik, untuk selanjutnya. Eemm kondisi itu tadi emm kondisi market potential yang
ada di global market itu pastinya kan mempengaruhi sido muncul dalam pengambilan
keputusan kan pak, nah itu kriteria apa saja yang misalnya bapak dan tim gunakan
dalam memilih negara tujuannya?
A3
N: oke oke. Nahh karena bisnis kita merupakan produk herbal, dan saat ini kita bisa
dibilang eem apa namanya, kalo ditingkat dari skala prioritas ya tentu kita akan
prioritaskan untuk ASEAN. Kenapa? Karena kan kita punya produk tuh andalannya
tolak angin, tolak angin itu obat suplemen untuk masuk angin. Nah masuk angin itu
related dengan sebenernya mostly dengan eeee apa negara dengan demografi yang
hampir sama. Nah kalo ASEAN itu kan demografinya sama, preference nya juga sama,
taste, sisi eee apa dari ekonomi nya juga kan pretty much almost the same. Jadi, dari
sisi affordability nya very affordable gitu. Nah penerimaan rasa juga mereka lebih bisa
terima, mereka familiar dengan rasa jahe, kunyit, mint pedes nah kan kebayangkan
kalo misal kita suruh orang yang bule kan pasti apa, sempet waktu itu adasih orang
jepang yang minum dibilang kayak minum mouthwash
N: iya pedes dan terlalu thick buat mereka ya something new, gak common lah.
Kembali lagi, apakah kita gak mau masuk kesitu? Ya mau cuman ya namanya target
market negara yang besar sekali harus namanya skala prioritas dulu. Jadi ya saat ini
fokusnya ASEAN dan tentunya ASEAN starting dari penduduknya yang paling besar.
Setelah Indonesia siapa?
N: bukan
P: Thailand? hehehehe
N: bukan
P: ummm
P: oohhh
N: nah iya jadi kemarin itu kita pergi kesana, kita pingin grab marketnya filipin. Seperti
itu. Eee lagi-lagi, disana juga mengenal yang namanya sore throat, nausea, bloated,
kembung gitu. Kalo masuk angin itukan kombinasi dari symptoms kan, apakah
idungnya mulai gaenak, badannya pegel-pegel, perut kembung, ya beda orang beda
symptoms. Nah itu yang kita ingin tembus gitu.
P: nah ini pak untuk sebelumnya nih pak untuk produk yang di ekspornya itu hanya
fokus di tolak angin saja atau?
N: saat ini ada dua, fokusnya di tolak angin dan kukubima energi
N: iya tolak angin dan kuku bima. Tapi sebetulnya kuku bima itu gakbisa dibilang
herbal karena mengandung apa vitamin b-complex, kafein gitu tapi kita dari sisi
affordability nya dibanding, kan kita head-to-head competitornya kan kaya hemaviton,
redbull gitukan yang ready to drink. Nah inikan advantagenya dari apa dari powder
sachet. Jadi dari sisi harga lebih terjangkau.
P: untuk lebih spesifiknya kenapa tuh pak memilih dua produk tersebut mungkin
karena di domestiknya..
N: nah iya itu exactly. Satu di domestic nya sukses, kita try to earn another new success
story dengan produk yang sama, itu yang pertama. Yang kedua, kita kalo dari sisi
supply chain nya kalo kita create new product yang baru dari sisi supply chain nya
akan repot. Susah. Karena economic of scalenya ga dapet. Misalnya nih saya mau
produksi tolak angin tapi disana harus tolak angin dalam botol misalnya karena
orangnya ga biasa minum sachet misalnya. Botol. Nah berarti kita kan harus bicara
dengan supplier botol, nah supplier botol kuantitinya ya gausah jauh2 deh di mangga
dua kalo kita beli dua biji sama dua puluh biji kan harganya beda to? Kalo beli botol
dengan market yang baru bisa gak kita beli dua puluh biji? Gabisa dong? Well kalo
kita pake sachet, ngomong sama suppliernya udah enak gitu karena di indonesia juga
udah begitu. Demikian dengan material-materialnya. Jadi economic of scale issue yang
jadi fokusnya.
A5
P: oke.. produk-produk tadi itu pak untuk memasuki negara tujuannya dalam mode of
entry export betul pak? Atau mungkin ada yang lain?
N: betul. Ekspor.
P: kenapa memilih ekspor pak? Kan mungkin ada pilihan lain seperti mungkin
licensing atau fdi atau joint venture
N: ohh kalo dari licensing kita gak mau karena kita emang mau develop nama
brandnya tolak angin,
N: tolak angin dan sido muncul at the same time, iya toh, nah, yang kedua kalo joint
venture gitu gitu kita enggak juga karena kita sebenernya ga perlu karena kita mampu
melakukan sendiri, jadi ya lebih ke normal export seperti itu
N: B2B
N: betul. Jadi kita engage dengan distributor. Distributor kita tunjuk satu eksklusif
distributor, di negara tersebut. Jadi kita single partner. Emm bisnis modelnya saya tuh
eksportnya tuh ada tiga, satu trading, satu saya sebut semi-marketing, yang ketiga
marketing. Gitu. Nah, trading itu apa? Trading itu ya sheila datang ke saya, saya ada
rekan atau mewakili company di china, saya mau beli. Beli apa? Beli barang a b c. nah
harganya a,b dan c segini-segini. Kuantitinya, minimum order quantity nya segini-
segini. Singkat cerita deal-deal, yasudah. Nih saya jual harga serratus ke sheila. Sheila
di cina mau jual seribu terserah satu juta terserah mau dijual online caranya terserah
mau dijual ke distributor terserah. Its totally beli putus gitu.
N: selesai. Saya gatau kapan lagi sheila datang ke saya, saya gatau kapan lagi sheila
nanti apa akan berapa lama lagi hubungan. Jadi in terms of sustainability nya
benerbener question mark. Dari sisi kelangsungan produknya juga question mark.
Bagusnya cuman satu. Gada risk. Ya saya minta sheila bayar didepan sebelum
A6
shipment. Untung langsung didepan, gada risk. Dp juga semua didepan. Itu. Kalo
perusahaan mau besar, ini trading gabisa sebagai bisnis model yang bagus, gitu.
Karena ya itu tadi, sustainability nya ga ini missal tahun 2017 jualan 2 juta US Dollar,
2018 suruh target berapa kan gabisa di predict. Gabagus. Dan gabisa besar. Karena
kita tergantung sama berapa punya duitnya sheila.
N: semi-marketing ini sama basically sepreti trading, tapi ada pembicaraan leih lanjut
mengenai support dari kami sebagai principal. Support misalnya gini. Saya jual sama
kayak tadi, 100. Lalu saya ngomong ama sheila, saya kasih support mau gak? So it
means that I allocate some of my profit, and I transfer to you as a promotion. Bisa itu
dalam bentuk sampling, bisa sample nya sendiri, bisa free goods, bisa kasih kaos, atau
bolpen, atau pencil, topi, handuk, whatever it is. Atau missal nanti kamu bilang oh di
negara saya mau ada festival, Chinese new year buka stand, saya mau join buka stand
gini gini, nah nanti disitu ada diskusi antara kita. Nah so it means that I give you some
of my profits to support you. Take and give dong? Kamu juga harus kasih sesuatu ke
saya dong? Apa itu? Nah itu sustainability. Jadi kita bicara satu tahun. Misal gua mau
kasih lu segini, nah lu satu taun mau ambil berapa? Gitu. Nah itu dari sisi certainity
nya lebih certain dong?
N: nah iya itu semi-marketing. Jadi missal untung saya 20 persen, saya buang 5 persen
kah 7.5 persen kah atau 8 persen kah tapi saya iket ini. Company masih untung gak?
P: masih
N: masih iya. Nah iya jadi itu jadi lebih ke ini. Bisa besar gak? Ya kan kita
ngebuangnya juga tergantung sheila berapa besar ngambilnya. Kalo sheila ambilnya
sedikit ya saya kan juga buangnya kan sedikit. Tapi kalo kita lock segini, misal, oiya
komitment satu tahun 6 kontainer. Yasudah saya biasanya ngomong ama customer
saya, kalo nge hit satu tahun 6 kontainer saya kasih you additional discount of 5 percent
in the form of goods. Gitu
P: oke
A7
N: gitu jadi ya saya juga keluarnya firm gitu karena saya kena dulu 6 kontainer baru
saya keluar. Kalau saya keluar didepan kan rugi. Itu namanya semi-marketing.
P: ohh iyaiya
N: nah yang terakhir bisnis model namanya marketing. Marketing ini another level.
Intinya gini, sama seperti semi-marketing ya sama seperti semi-marketing, tapi tadi
untung misal 20 persen kan perusahaan diambil misal 5 persen, nah ini diambilnya kita
spending nya 30
P: rugi
N: nah itu. Itu bener sekali. Jadi emm ini bener-bener sheila dalam tanda kutip disetir
sama principal. Sheila tolong jualnya di indomart ya, atau alfamart segala macem,
harganya segini, kamu marginnya segiini, kamu harus kasih ke retailer segini, ke
wholesaler segini. Jadi kamu bener-bener disetir. Aku mau jualan ini, tugas kamu
harus availability. Kesekian warung, kesekian took, kesekian supermarket, itu yang
ditarget. Satu toko isinya harus segini gini gini gini. Jadi kita bener-bener take control
of you. So, kita in return apa? Oke saya akan bikin tv commercial. Tau dong ga murah
kan? Nah tv commercial dengan endorser artis terkenal, sama seperti sini lah. Atlit,
whaterver it is, tapi kita bicara ini country baru, market baru, jadi yang dilakukan
adalah pasti tahun pertama sama tahun kedua pasti suffer. Perusahaan, yakan, nah
setelah itu expected bisa eee besar. Besar sebesar Indonesia.
N: iya. Jadi selalu tiga bisnis model itu ada trade-off nya, pros and cons nya.
Tergantung perusahaan mau yang mana. Kalo mau yang besar, itu ya marketing.
A8
P: iya pak karena yang saya lihat juga sido muncul di pasar domestic marketing nya
sangat di inikan pak digenjot banget dengan iklan artis tadi atlit-atlit dengan kuku bima
tolak angin itu
N: ya istilah saya produknya disekolahin. Gitu. Kalo produk talk angin dikasih iklan,
berarti disekolahin. Kalo produk gitu kan kayak anak, supaya pinter, supaya besar,
supaya ini. Kalo anaknya ga disekolahin Cuma dijualnya pake trading bisnis aja ya
anaknya kayak ditelantarin. Tergantung orang tuanya yang angkat anaknya mau
disekolahin apa enggak gitu.
P: betul pak. Nah eeem sampai saat ini pak kondisi ekspor nya sido muncul sendiri
bagaimana pak? Oke? Atau fluktuatif mungkin?
N: masih…. Jadi saya join perusahaan ini dua tahun lalu. 2016. Pada saat itu
perusahaan bisa dibilang gak fokus lah ke ekspor. Eee yang kecil-kecil datang kesini
beli 10 karton, 15 karton untuk ekspor di hand carry sudah dianggap ekspor. Nah waktu
saya masuk ya istilah saya saya rapihkan aja gitu. Jadi yang begitu-begitu saya gak
layanin. Kalo mau beli ya beli ke pasar pagi atau ke distributor local kami. Jadi kami
yang bener-bener ekspor yang besar. Jadi customer itu shrinking. Jadi yang banyak itu
shrinking jadi cuma sekarang 15 country eem tapi secara omzet naik malahan. Karena
yang fokus tadi. Karena ada yang sudah lama trading, long-term trading partner kan?
Ya kenapa gak kita leverage jadi paling enggak semi-marketing gitu. Eeee nah produk
ini produk bagus gitu tolak angin ya jadi kita sekarang lagi ada projek untuk marketing
export marketing bisnis model untuk negara Philippine. Eee bedanya ya kalo namanya
marketing itukan melibatkan investasi, nah investasi itukan kita gak.. ya kita we do it
one step at the time gitukan gabisa pilih lets go to Vietnam, filipin, satu muscle nya
gakuat. Dari sisi financial muscle. Ya kita harus smart yah, yang pertama dari itu. Yang
kedua dari sisi human resource nya juga kan kurang. Gitu. Jadi saat ini eem kalo
dibilang ya sedang berkembang. Ya baru dua tahun
N: sheila tau dong produk ini produk suplemen untuk masuk ke negara kan harus
didaftarkan, badan-badan pom nya sana, dan itu bukan daftar hari ini minggu depan
jadi, it takes around 6 months gitu kadang-kadang.
N: iya lama. Masih untung ini kalo ethical tau? Produk ethical?
P: ethical?
N: he eh kalo pharmaceutical yang ethical yang obat resep bisa setahun, setaun
setengah, bisa dua tahun
N: eeee yang pokoknya yang kamu beli pakai resep. Yang gabisa jual beli bebas lah
pokoknya. Kalo kita kan masuknya supplemen
N: suplemen. Jadi tiap negara ada yang mengenal, ada kategori nya herbal medicine,
ada yang enggak. Jadi beda-beda. Beda country beda regulations.
P: nah itu untuk country nya itutuh pak, eeee kriteria-kriteria apa yang.. misalnya
bapak belom liat negara-negaranya tapi bapak sudah menentukan kriteria pokoknya
negara tujuan kita harus minimal misalkan GDP segini, atau indicator lain segini gitu
N: oh ndak ndak. Pada saat ini kan kita tadi kriteria nya very simple sih. ASEAN,
dengan petimbangan profile produk kita dan demografi segala macem, itu darisitu.
P: nah oiya sebelumnya nih pak, saya kan baca di annual report sido muncul sama dari
Om Johan sendiri kan bapak ini direktur independen pak betul?
N: he eh
P: nah kalo bisa diberi gambaran sedikit direktur indepeden itu sebenrnya seperti apa
gitu pak
N: ooo kalo ini mungkin ga terlalu related sama apa thesis kamu.
N: ooo direktur independen itu.. sebenernya kamu bisa googling aja bisakok. Jadi
perusahaan sido muncul itukan perusahaan apa public listed, perusahaan apa terbuka
kan yang terdaftar di bursa saham. Nah bursa saham itu mengharuskan adanya seorang
direktur independen. Apa tugas direktur independen? Direktur independen itu bertugas
memasrtikan bahwa terjadi good corporate governance di perusahaan tersebut. Jadi
A10
siapa sih direktur independen ini? Direktur independen adalah yang mewakili saham
yang ada di public, pemilik saham di public. Jadikan misal nih saham 100 persen. Yang
di public kan macem-macem kan perusahaan kan, ada yang 20 persen, ada yang 30
persen, punyanya public. Sisanya kan punya owner kan punya pemilik. Nah si public
itukan punya interest kan terhadap perusahaan ini. Nanti kalo ownernya seenak aja
make dui tapa buat apa buat apa siapa gitu yang control? Siapa wakil saya, misalkan
saya pembeli saham nih. Itulah fungsi gampangnya ya. Supaya mudah gituloh direktur
independent tuh jadi seperti saya sebagai direktur independen syaratnya tidak boleh
punya afiliasi sedarah atau sekandung dengan pemilik. Kedua ada beberapa syarat
yang kamu bisa googling sendiri. Jadi namanya independen bukan keluarga ataupun
saudara, punya hubungan family.
P: berarti sido muncul ini sebenernya punya family firm ya pak tergolongnya?
N: iya tetep terbuka financial nya harus tau, financial report, untung berapa, ini berapa,
kamu bisa lihat semua.
P: iyasih pak kemarin saya juga sempet pake laporan sido untuk apa ada ujian gitu
dikampus analisis laporan keuangan. Iya kebetulan waktu itu saya baca direktur
independen itu yang mengurusi export importnya gitu pak
N: ooo not necessary not necessary. Bisa. Jadi direktur yang ngurusin finance misal
sebagai direktur independen juga, bisa direktur hrd sebagai direktur independen juga.
Jadi ga spesifik export import.
P: oooh he em.. emm selanjutnya berarti untuk negara tujuan itu bapak masih eee fokus
nya di asean karena dasar demographic dan geographic gitunya ya pak ya
N: he em he eem
P: oke selanjutnya emm.. ini pak terkait model yang saya cantumkan di email waktu
itu
P: hehe iya pak ini silahkan. Oiya pak untuk suppliernya sendiri di negara tujuan pakai
distributor ya pak jadinya?
N: iyah distributor. Emm jadi ini dari dimensi industry attractiveness dan strength of
business unit maksudnya apa ini?
N: oh dari produknya he em
P: iya pak jadi pertama dari kondisi market nya dulu baru dari kekuatan produknya
N: ini market kan berarti ini bisa dibilang country. Ini produknya oke he eh. Terus
pertanyaan kamu apa?
P: nah inikan ada beberapa kriteria nih pak yang akan dimasukan kesini salah satunya
seperti ini, mungkin ini bisa dijadikan contoh kriteria nya pak. Nah itu dari beberapa
contoh kriteria tersebut mana saja yang sekiranya dipertimbangkan oleh sido muncul?
P: untuk masing-masing dari kriteria ini ada indikatornya gak pak mungkin kayak
market size yang bapak butuhnya misalnya berapa dollar sampai berapa dollar gitu
N: oh gak ada.
N: he em. Market size saya lebih liat dari eeem apa namanya population iya population
N: ya kalo ada yang serratus juta penduduk yaa im not going to enter Singapore yang
lima juta penduduk gituloh. Buat apa. Kan inikan masuknya maunya dalam artian
marketing bisnis model tadi itukan. Itu dulu loh ya jangan yang trading atau yang
lainnya
A12
P: oke pak.. eem nah ini pak tadi kan bapak juga sempet mention nih produk sido
muncul yang baunya kuat, rasanya juga kuat, tapi mungkin ada rencana gak pak ke
negara-negara yang apa namanya yang seperti tadi itu seperti western atau yang
konsumennya itu bule?
N: he em. Kenapa?
P: kalau misalkan masuk sampai ke situ mungkin ada siasat apa gak pak yang
dipersiapkan untuk menghadapi hambatan terkait rasa dan bau tadi itu?
N: yo ee nanti gini, kalau kita sudah strong di asean, kan tadi itu ya keyword nya kan
priority. Nah setelah kita strong di asean parallel juga kita akan explore negara-negara
lain starting dari bukan eropa sih tapi dari middle east. Di eee UAE, Pakistan, kan
harus kita secure satu halal certificate, kalo kita sudah punya halal, that is the second
step, and then goes to Africa. Jadi kalo untuk eropa sama amerika itu mungkin ya nanti
untuk priority kesekian kali ya gitu, karena itu bukan target kita.
P: eeem oke. Selanjutnya pak, secara garis besar saja, step-step apa saja yang dilakukan
sebelum exporting gitu pak? Misalkan apakah bapak apa namanya langsung propose
kan suatu negara atau..
N: eem oh enggak, jadi gini. Kita propose negara, terus kita eee kunjungin negara
tersebut, kita lihat profile marketnya dulu. Diliat dulu. Jadi eem ya tentunya kalo kita
ngomong dari sisi consumer goods nya, channel of distribution nya gimana gituloh,
kalo di Malaysia mungkin modern trade lebih sudah establish daripada di filipin atau
Vietnam, di Vietnam kebanyakan masih pasar becek semua, itunya harus kita lihat.
Karena begitu structure nya itu beda, itu dari sisi investment cost juga akan beda.
Contoh. Kalo mau modern trade yang besar, mendominasi, maka akan lebih besar dari
investment cost nya untuk enter the market. Karena ada listing fee nya, listing fee tau
dong ya kalo mau jualan ke indomaret gitukan harus bayar kan, nah itukan pasti ini,
kalo jualan ke warung bayar gak? Enggak kan, nah ke pasar itu juga enggak. Jadi
tergantung mau yang seperti apa. Itu kita liat dulu yang pertama. Terus yang kedua ya
tentu the closest competitiornya. Ya habitnya bagaimana. Kalau bicara tolak angin its
very easy. Karena there is no competitor. So if there is no head-to-head competitor,
then what is the closest one? If people feeling nausea yang tadi gejala masuk angin
gitu what is the closest competitor? Misal oh ada namanya hemextri misal, itu herbal?
A13
Herbal. Form nya apa? Tablet. Jadi itu another ya bukan ini nah, eee apa terus orang
flu oh misal minum vitamin atau apa Panadol. Nah itu harganya berapa? Nah kalo
udah, di gather semua information nya, ee terus orang seberapa perception nya
terhadap herbal gitu disana. Nah kalo udah dapet semua baru dibawa pulang informasi
tersebut. Baru dibikin kayak simulation. Toalk angin disini dijual segini, disana mau
dijual berapa? Satu container berapa, shipment berapa, importir diberapa, dibikini
simulasi. Dibikin simulasi terus eeee tadi jumlah oulet berapa baru dibikinin bisnis
plan gitu. Jadi stepnya begitu
P: oke baik. Nah eeem itukan tadi masuk kesana melalui distributor kan pak, nah itu
untuk distributornya itu sendiri memasarkan produknya itu ada sido muncul tau gak
gitu gimana caranya…
N: ya tau
N: ya tau. Kita tau. Jadi sebelum ini ya kita ketemu beberapa candidate distributor, ya
candidate ini ya kayak cari istri ya kayak cari pasangan kan. Ooh istri yang ini keluarga
nya pendidikannya gak segitu tinggi tapi punya tanah banyak, yang ini cakep pinter
apa, ini istri c ini istri d. Ya kalo distributor itu harus diliatnya apa? Oh ini networknya
segini besar, oh saat ini bawa produk ini ini ini, ini apa oh ini principal nya sekian oh
ini bawa nya ini ini ini warehousingnya kayak gini, system logistic nya kayak gini, nah
dari situ oh ini minta fee nya sekian, ini minta feenya sekian sekian. Nah baru
dibandingin, di beauty contest gitu. Siapa yang menang, ya baru kita ngomong. Dan
mereka juga punya standard jugakan. Nah kalo di Indonesia, kamu ke provinsi
manapun, sebagai bawa baju sido muncul, ya hantu pun mau jualan gitu kan kasarnya.
Sudah “ohhhiyaaa sini sini siniii mau mauu” ya gimana. Misalkan ini sido muncul
ngomong “pokonya lu harus begini begini begini” oo oke pak oke pak setuju. Ya
karena ini sido muncul, di Indonesia. Kalo lu pergi ke filipin, ada orang kenal sido
muncul? Gabisa. Kita gabisa ngomong “lu harus begini begini begini” di filipin gabisa
begitu. Jadi dia yang “karena lu produk baru, gua mau margin yang segini segini
segini” well that’s the arts of negotiations happen. Gitu yakan different.
N: nah nanti siapa tau ya we hope within 5 years people already starting to understand
about tolak angin and then in the Philippines becoming the same with Indonesia.
Bukan kita yang cari tapi di pintu kita ngantri distributor yang tinggal kita pilih.
N: yaa
P: ee okay untuk selanjutnya oh ini ada gak pak produk sido muncul yang dijual diluar
tapi tidak dijual di Indonesia? Mungkin untuk mencocoki pasar atau bagaimana
N: ee gini. Ada cuman dalam bentuk like totally isinya berbeda. Dari sisi packaging
berubah
N: iya berubah tapi gak berubah drastic gitu. Nih saya tunjukin sebentar saya ambilin
P: ehehehe
N: tapi kalo totally beda. Oo Malaysia pingin rasa duren disini ga ada rasa duren terus
kita bikini kayaknya enggak ya
N: tapi ada export yang lain ini sebenernya kecil sekali makanya tadi gak saya mention.
Yaitu manufacturing business, jadi misalnya saya bikini dong, kamu tau kan tolak
angin punya permen? Tau kan?
N: nah itukan lozenges kan permen tenggorokan kayak strepsils gitukan. Nah ada
orang pengen minta dibikinin lozenges merek x gitu. Dengan materialnya ini ini ini
packagingnya ini ini ini gitu. Jadi statusnya sekarang pabrik kita ini cuma penjahit
P: oooo
N: nah itu totally beda sih kalau buat pertanyaan kamu tadi ada gak produk yang di
eksport tapi gada di Indonesia ya itu. Itu totally beda. Gitu. Nah kalo yang tadi saya
bilang bedanya Cuma adjustment design aja. Cuma presentation nya tetep sachet, satu
box tetep dua belas.
A15
N: filipin. Terus kita juga punya packaging yang khusus export. Jadi Bahasa inggris
semua.
P: oh hiya he eh
P: iya heeh
N: claim medicine tuh gaboleh. Begitu input your wording medicine, it cannot claim
as a supplement.
N: iya jadi kalo di amerika contoh kita klaimnya dietary supplement, gabisa name ini
P: oh oke.. untuk pertanyaan selanjutnya emm maaf ya pak agak banyak nih
pertanyaannya..
N: iya gapapa
N: beda kan? Ini filipin packaging. Dalemnya kalo di kita kan landscape kan
P: iya pak he eh
N: tapi ini isinya sama. Tuh bilangnya herbal supplement kan disini.
P: iya beda. Sama disini kan biasanya ada lambangnya sido muncul kan ya pak
P: oooiyah.. eee ini untuk kriteria-kriteria ini berarti bapak gak ada indicator khususnya
gitu ya pak yang bisa dijadikan angka seperti ini misalkan kayak gini..
N: enggak, enggak ada. Ya you bisa buat suggestion toh buat the company nanti in
your thesis kan
N: iya gitu saja ive been through that once. Tapi ya kadang begitu-begitu di real world
nya agak kurang ya kecuali multinational company ya. Kalo ini kan kita enggak. Kalo
multinational company kan mungkin they have their own analysis lah, sampe mungkin
beli sama siapa si..
N: yaa BCG atau misal country filipin laki nya berapa perempuan nya berapa, habit
consumptionnya gimana, ini apa. Ya itu proper sekali.
P: iya pak betul.. emm selanjutnya untuk competitor sido muncul pak di Indonesia,
competitor terbesarnya sido muncul pak?
N: emm secondnya tuh kalo gasalah deltomed ya kalo salah sama antangin nya yah.
Tapi buat angkanya saya gatau saya gapunya datanya.
P: iya soalnya kan saya melihat salah satu research dari hexaresearch itu menyatakan
kalau sido muncul itukan nomor 1 di Indonesia, nah namun kan untuk
mempertimbangkan competitor dan apa persaingan dalem negeri gitukan saya harus
mencantumkan kompetitornya itu apa saja gitu
N: he em he em. Ya kalo seinget saya sih produk mirip tolak angin di market itu banyak
banget ada antangin, bintangin, ada apalah you carilah pasti ada, cuman the closest one
ya antangin. Tapi angkanya berapa saya gatau.
A17
P: antangin ya pak he em
N: tapi yang pure eee herbal company yang public listed ya cuma sido muncul gitu
P: eem oh iya pak jadi begitu.. oiya pak untuk pabrik selain di ungaran ada tempat lain
lagi mungkin pak? Atau sejauh ini di ungaran saja?
(cont.)
P: Peneliti
N: Bapak Carlo
P: eem melanjuti pembicaraan waktu itu yang terkait ekspor, emm bapak kan
memperkenalkan saya ada tiga bisnis model. Ada trading, semi-marketing, dan
marketing
N: betul
P: nah itu untuk referensi dari bisnis model ini sendiri tu bapak carlo dapet dari mana
atau emang pak carlo sendiri yang membentuk bisnis model itu sendiri?
N: oo eee yaa saya ga dapet referensi dari buku karena saya berdasarkan dari
experience, karir saya jadi dan kebanyakan di perusahaan-perusahaan tuh, kan saya
kan perusahaan dari mulai dari kalbe, terus makarizo, terus kino Indonesia, terus
sekarang sido muncul itu semua consumer goods, dan semuanya punya saya rasa
punya pattern, pola dimana eeee ya itu saya akhirnya kelompokan jadi tiga, tiga besar
itu saya gak pake apatuh reference teroi si x atau si a teori buku apa saya gak pake..
diliat dari business practices nya saya kelompokan jadi tiga seperti itu, berdasarkan
pengalaman saya di international business dari tahun 1997
N: hehe iyaa dari tahun 1997, eee itu seperti itu. Ada pattern pola nya ya seperti itu.
Jadi emm ya itu jual-putus, orang datang beli dia nguurus sendiri itu trading, yang
semi-marketing itu kita berikan something gitu, tapi kalo ya full marketing itu kita
yang invest, gitu.
A18
P: oo emm heem berarti untuk istilahnya sendiri bapak yang came up with the idea ya
pak?
N: saya yang came up sendiri.. sebenernya bukan saya came up sendiri sih. Waktu itu
siapa ya manager atasan saya, apa tim management export yang di kalbe yang sempet
ada ini terus saya yaa menurut saya itu betul ya gitu..
P: ohh oke.. untuk selanjutnya, melalui tiga metode tersebut yang diadaptasi oleh sido
muncul yang mana pak? Atau ketiga nya memang digunakan oleh sido muncul?
N: saat ini tidak eem sebelum saya join yang jalan itu yang pertama yang jalan yang
trading. Terus saya masuk, saya perkenalkan yang nomor tiga, yang marketing. Yang
saat ini jalan untuk filipin iya.
P: ooo berarti eee saya kan juga observasi data sekunder juga di berita sama annual
report, nah itukan mengatakan kalau sido muncul sampai saat ini belum direct export,
masih indirect kan yang dimana kalo marketing ini kan berarti dia jatohnya B2B dan
direct betul pak?
N: he emm
P: nah berarti untuk marketing ini dan direct exportnya ini baru ke filipin?
N: baru ke filipin, iya. Bisa dibilang gitu. Marketing itu baru yang di filipin. Karena
sekali lagi inget gak sheila waktu saya jelasin pertemuan pertama ee apa untuk direct
itu waktu persiapannya gak sebentar. Ada yang namanya registrasi produk, pemilihan
distributor, eee terus persiapan segala sesuatunya gitu. Jadi dan itu sekali lagi kan
invest something, jadi gabisa dilakukan ke satu country, ya tergantung sih kalau
perusahannya willing dan mau punya budget alokasi yang cukup, dan dari sisi human
resources nya cukup, satu tahun mau jalan tiga empat countries gitu bisa bisa aja
misalkan segede mayora atau Indofood gitu gitu mereka kan giant itu. Tapi kalo dari
sisi kita inikan baru pertama, dari sisi management sido muncul. Jadi ya one step at
the time lah
P: baik emm oke. Berarti eem kan tadi bapak bilang untuk yang marketing ada regulasi
nya, step-step nya gitu. Nah untuk yang trading berarti itukan orang cuma dateng, buat
terus langsung dijual kesana gitu pak?
A19
N: he em
P: nah itu berarti regulasi nya gimana pak? Maksudnya kan menjual produk Indonesia
yang ada kandungan-kandungan itunya
N: jadi gini. Regulasi itu..oke. regulasi yang sheila maksud ini dari sisi mana dulu?
Karena gini. Namanya ekspor, buyer itu, ada juga yang dalam tanda petik dari sisi
regulasi mungkin masih abu-abu. Dia sendiri gituloh. Tapi adajuga yang mereka mau
do the right thing. Dalam arti mereka mau registrasi. Kalo trading, sekarang kan saya
pernah jelasin waktu itu eee trading pun saya ndak bisa orang dateng lalu beli. Dan
misal dari country A sheila datang. Terus besoknya ada yang namanya sheila B, datang
juga untuk country yang sama. Itu saya terus terang saya hindari walaupun trading.
Jadi misal sekarang kayak Afganistan. Afganistan itu yang mau beli kuku bima itu
banyak sekali. Tapi saya batasi. Saya eksklusif sama satu orang. Tujuannya apa?
Supaya ya trading nya itu trading yang bener lah. Saya mau iket pake target, segala
macem, gitu.
P: berarti itu semua sejak yang bapak carlo join dengan sido muncul ya pak?
N: nah yang sejak saya join sido muncul saya lakukan pertama audit customer.
Customer yang belinya kecil-kecil, gak rutin. Ya kalo mau dateng lagi dinaikan, kalo
you ga sanggup ya im sorry, you ambil dari local aja gitu jadi dari kami lebih selektif
lah. Nah dari situ yang semut-semut ini yang kecil-kecil ini hilang. Gak kita handle,
jadi sekarang customer tinggal kira-kira tinggal 15an lah gitu. Tapi ya itu yang bener-
bener ya kerjanya kita siapin ini-ini dapetnya lumayan kita minimum 25 ribu dollar itu
di sido muncul itu value standard nya kita. Kecil itu. Dulu ada yang seribu dollar dua
ribu dollar, dibanding 25 ribu kan jauh. Cuman ya dari sisi ekspor buat company lain
mungkin 25 ribu itu peanut tapi for us its still significant.
P: eemm oke.. kalo yang mereka yang dulu yang semut-semut itu bapak tau gak
gimana cara mereka jualnya?
N: ga tau. Cuma orang dateng beli, dah selesai gua kirim kemana. Ada yang dikirim
ke Gudang kapuk lah, ada yang kemana. Ada tapi saat ini yang masih kecil tapi kita
masih layani yaitu australi sama amerika. Amerika itu ambil paling setahun 250
karton-300 karton. Kecil banget. Tapi saya masih perlu untuk portfolio kami. Oh kita
A20
masuk amerika gitu. Jadi ada reason juga gitulho. Kalo itu judulnya satu negara di
benin afrika atau partai gading gitu-gitu ya tak buang.
P: eem oke.. itu yang biasa untuk yang gitu-gitu apasih pak maksudnya yang beli jual
disana itu biasanya siapa gitu
N: trader, biasa trader. Trader itu jadi, namanya trader ciri-cirinya itu dia beli barang
banyak. Jadi barang sido muncul ambil 200 karton, barang krupuk ambil sekian,
barang selai ambil sekian, ambil saos ambil sekian digabungin jadi satu container. Di
shipment bareng bareng. Itu namanya biasa trader begitu. Gitu gamungkin trader satu
container satu jenis barang, ya ada cuman kecil sekali lah.
P: mmm oo oke.. berarti untuk metode yang marketing, saya memastikan lagi ya pak
hehe, itu sejak bapak carlo join 2 tahun lalu ya pak betul?
N: yak betul
P: ooo berarti yang sebelumnya tadi yang hanya trading itu aja ya pak
N: he em
P: terus emm jadi ee distributor sido muncul ini sekarang totalnya ada berapa pak?
Yang distributor secara B2B nya
P: yang kayak misalkan melalui banyak distributor gitu lalu bapak pilih satu eksklusif
N: gini, kamu jangan starting dari situ. Mending dari bisnis model tadi 3 bisnis model
tadi. Itu saya bisa lebih jawab. Tapi kalo yang dari sisi pertanyaan B2B itu agak kurang
clear. Jadi kalo si marketing baru ada satu kan si filipin, kalo yang semi-marketing itu
mungkin ada kira-kira emm 5. Sisanya itu ee trading. Trading tapi ya itu tadi. Trading
tapi ya kita bener-bener selektif lah.
P: untuk di negara asean sendiri sudah ee dimasuki sido muncul total ada berapa pak?
N: Thailand itu karena satu eem entry cost nya gede ya. Terus local herbal nya juga
sudah kuat. Ya laos juga sih cuman laos ya kecil sekali.
P: emm waktu itu bapak juga sempat menyatakan jugakan pak mau fokus ke negara-
negara asean dulu berarti ini dalam konteks yang marketing ya pak ya?
N: he em he em
P: soalnya kan negara asean yang marketing baru filipin kan pak
P: lalu.. emm nah untuk ee pemilihan distributor dalam konteks marketing, itu bapak
ada indicator khusus atau kriteria yang dilihat tidak pak?
N: untuk apa?
N: oh yang marketing. Oya dari sisi ini dari itu network coverage nya terus sales force
terus ee financial, terus principle yang sudah dipegang, terus eee experience di
bisnisnya berapa lama.. itu ajasih secara simple.
P: ini bapak biasanya yang waktu itu survey ke lapangan itukan ya pak
N: iya jadi kita ya karena mungkin saya sudah lama di ekspor kan, jadi ya punya
network lah nah dari punya network itu kita bisa explore tanya, misal ibaratnya kamu
kan kuliahnya di BSD kan ya?
N: nah iya ee kalo saya tanya kos yang paling enak dimana gitu kamu ngerti toh?
Temen-temen kamu kos dimana gitu “oh disini pak disini.” Ya itu sama. Jadi ya saya
udah punya network di filipin jadi saya tinggal tanya, tanya tapi apakah langsung deal?
Ya ndak. Sudah kumpulin candidate, minta waktu meeting-meeting gitu. Kan kayak
cari istri, didatengin, ada yang istrinya gamau sama kita, bisa juga. Ada yang minat.
Ya jadikan mengerucut gitu candidatenya misal dari 6 jadi 3, dari 3 ini dibandingin
lagi akhirnya dipilih satu gitu toh.
A22
P: Peneliti
N: hee kalo misalkan kita ngomong sido muncul ya semua orang sudah tau sido
muncul tuh eem part of industry herbal di Indonesia gitu kan dan kita si confidence
bahwa sido muncul tuh sampai sekarang ini yang terbesar gitu diantara pemain-pemain
lain di industry herbal. Jadi di ya maksud saya ga hanya sebatas jamu gitu ya emang
karena jamu kan termasuk obat tradisional herbal kan tapi yang obat non-herbal juga
sido muncul kalo misal dibandingin sama kompetitornya itu mungkin sido muncul
paling gede dari skala economic. Maksudnya dari skala economic itu apa? Dari sisi
production, outputnya yang keluar kita mungkin yang paling gede gitu. Eem emang
umurnya kan udah 70 tahun lebih lah ya segala macem struktur, terus eeem kita juga
kalo misalnya lanjut bisa dilihat dihalaman nomor 4. Kita dibawah sido muncul itu
kita ada 4 anak perusahaan eee yang pertama tuh eee muncul mekar. Muncul mekar
itu perusahaan distribusi kita lah gitu jadi emang distribusiin semua produk-produk
sido muncul. Abis itu kita punya semarang herbal indoplant itu untuk pabrik ekstraksi,
pabrik ekstraksi itu untuk apa? Untuk sebelum jadi produk jamu, misalnya kayak tolak
angin, kita punya raw material kan bahan baku kita kan herbs tuh tanaman-tanaman.
Itu dibawa ke semarang herbal indoplant di ekstrak untuk jadi liquid atau cair abis itu
baru jadi bahan produksi. Jadi kayak bahan semi-finish good gitu. Yang ketiga ini
berlico farma, ini kita baru akuisisi mungking ditahun 2014 setau saya. Di 2014 kita
akuisisi berlico farma ini perusahaan farmasi. Jadi bener-bener chemical drugs bukan
cuma herbal. Abis itu terakhir, ini kita baru establish muncul Nigeria ltd kita baru diriin
di taun ini, januari. Ini untuk tadi ni Pak Carlo punya tugas nih
P: iya ini saya lihat di annual report belum ada ya pak yang muncul Nigeria
N: iya ini kan soalnya baru januari 2018 kan kita establish gitu kita baru diriin di
januari 2018. Nah ini 4 perusahaan ini part of Sido Muncul terus kalo misalkan kita
ngomong ya kita perusahaan sido muncul itu perusahaan public, jadi saham kita
dimiliki public sekitar 18 persen ee next nya apa mungkin mau kemana nih kamu
nanya itu tadi briefing sekilas tentang sido muncul sih. Nah mungkin saya lanjut ke
A23
halaman 7 kali supaya lebih tau lagi mengenai kegiatan bisnis selain IB juga domestic
market di Indonesia seperti apa, itu kan ada distribusi network kita di Indonesia. Eem
kita yang tadi perusaahan distribusi kita under muncul mekar gitu, itu national
distributor eee muncul mekar itu kita bagi jadi 4 kategori, satu itu modern trade,
modern trade itu kayak hypermart, alfamart, indomart, ya pokoknya convenience store.
Trus kita ada tradisional, tradisional itu wet market, pasar basah kayak street vendor
gitu kayak toko-toko, warung-warung, pasar-pasar, sama terakhir kita ada medical
channel distribution itu apotek. Nah sido muncul tuh masih kuat dimanasih? Kalo kita
ngomong sido muncul itu kuatnya di tradisional. Karena part of heritage, jamu itukan
lebih kearah tradisional-tradisional lah ya jadi ya kita lebih besarnya di tradisional
market. Nah dari market tersebut kita bagi jadi 3 area, tengah, barat dan timur.
Cangkupannya ya barat itu ada jawa, kalo gasalah jawa barat, dki, Tangerang, banten,
dan sumatara, lalu yang tengah itu ada jawa tengah, yang timur itu luar pulau timur
sana gitu.
P: emmm he em he em
N: nah ini dibawah muncul mekar tuh dibawah traditional trade itu kita punya 122 sub-
distributor yang kerja sama sama kita. Jadi kalo misalnya kita ngomong kenapa saya
bilang kita dalam skala ekonomi itu besar, karena distribusi network kita aja udah besar
gitu untuk ukuran perusahaan herbal.
P: ini untuk 122 sub-distributor ini mencangkup semua ya pak? Modern, tradisional
dan medical?
N: aaa 122.. 122 itu aaa iya 122 itu mencangkup semua.
P: oke..
N: nah yang tadi saya bilang kenapa kita itu besar banget? Ya karena distribusi kita itu
besar. Kamu cari tolak angin dimana-mana pasti juga nemu kan. Mau dijalanan, mau
dimana mau di emm convenience store alfamart indomart, semua udah tersedia. Nah
itu yang tidak dimiliki kapasitasnya oleh eem perusahaan jamu lain. Nah terus secara
IB, international business, mungkin sebelumnya kamu udah dijelasin lah ya lebih
banyak sama Pak Carlo. Soalnya dia kan expert di international businessnya, nah saya
cuma nambahin aja mungkin sekarang sih kita eem produk kita udah ada di yaa
lumayan lah ada di, kalo boleh saya bilang ada lebih di 20 negara, ada di semua benua,
A24
Australia, US, Europe segala macem. Nah ini yang masih mau digenjot lagi. Soalnya
kita mau ngenalin produk-produk Indonesia ke luar seperti itu. Udah deh. Itu
sekilasnya.
N: iyak
P: umm pertama, terkait market leader nih, sido muncul kan dari Euromonitor aja juga
udah menjadi ee market leader di obat-obat an tradisional, nah eee apakah betul produk
tolak angin yang merupakan sales terbesar gitu dari sido muncul?
N: iya dari sido muncul ini kita kan bagi, nah kalo misal kamu mau ngomong soal ini
bisa liat halaman 8 dihalaman 8. Nah itu kamu kan bisa liat tuh ada sales mix, nah
sales mix ini tuh dibagi jadi 3 dalam sido muncul ada dibagi 3 grup yaitu herbal
supplement, food and beverage sama pharmaceutical. Eeem herbal dan supplement itu
contributor utamanya tolak angin, gitu. Jadi kalo misalkan diliat ya dari 66% ini
mungkin hampir sekitar 80an persen nya itu tolak angin semua. Jadi bisa dikatakan
tolak angin itu memang yang paling besar penjualan untuk sido muncul. Kalo di fnb,
itu 30 persen, itu contributor utamanya itu kuku bima energi. Gitu. Jadi ya emang bener
kalo misalnya ee tolak angin itu yang paling besar. Untuk pasar jamu sendiri umm kita
sih kita liat memang tolak angin, maksudnya jamu masuk angin itu yang paling besar
sih untuk sekarang ini.
P: baik. Umm untuk selanjutnya, umm sekarang saya ingin mengetahui pertama dari
industrinya sendiri, diluar sido muncul tapi di industry obat-obatan herbal ini. Nah
umm menurut bapak untuk factor modal atau biaya produksi itu untuk masuk ke
indsutri ini tuh salah satu barrier bukan?
N: umm kalo kita ngomong barrier, high entry barriernya tuh yang paling tinggi tuh
justru menurut saya bukan modal. Menurut kita bukan modal, melainkan resep dan
formulasi. Gitu. Kalo modal, sekarang industry jamu di Indonesia itutuh lumayan
fragmented, maksudnya fragmented tuh umm terdiferensiasi sama industry-industri
jamu yang kecil yang jamu-jamu rumahan. Nah itu sangat banyak tuh industry indsutri
jamu rumahan indsutri kecil yang rumahan. Makanya saya bilang ya untuk become a
big player, maksudnya setara sido muncul memang entry barriers nya salah satunya
adalah modal lah. Karena, ya seperti yang saya bilang, karena sido muncul tuh
A25
production capacity atau economic of scale nya jauh lebih besar dibandingkan dengan
perusahaan-perusahan lain. Tapi yang membuatkan sido muncul ya balik lagi, core
bisnis kita jamu, jamu itu identik dengan resep nenek moyang. Jadi yang paling, high
entry barrier yang paling tinggi menurut kita itu ya mungkin salah satunya itu adalah
resep. Karena gini, ee cerita perusahaan farmasi yang besar-besar banyak gak yang
lebih besar daripada sido muncul? Banyak. Kayak kalbe farma tuh juga perusahaan
gede kan. Dan kalbe farma tuh juga punya bintang tujuh. Bintang tujuh itu dia mau
spesialisasi ke herbal. Nah si bintang tujuh ini juga skala ekonomi nya gede gak? Ya
skala ekonominya gede. Tapi yang gabisa ditembus salah satunya adalah formulasi.
Formulasi itu mencangkup apasih? Mencangkup ummm efikasi, efikasi tuh apa ya
umm kemanjuran, jadi ya manjur atau enggak gitu soal obat. Yang kedua, rasa. Kalo
manjur, tapi rasanya pait ga akan diterima. Kalo rasanya enak tapi ga manjur, juga ga
akan diterima. Jadi ya sido muncul tuh yang salah satu inovasinya apa? Ya efikasi nya
sama rasanya bisa diterima sama semua orang
N: yes. Itu salah satu strength nya. Selain itu, strength nya nomor satu, dari sisi
formulasi kita itu yang nomor satu lah. Strength, kedua, brand, brand image. Brand
image ya kalo kita ngomong tolak angin ya itu udah kayak indomie lah udah market
leader. Pokoknya orang cari mi instan, orang mau cari kayak umm minum aqua, cari
teh carinya teh botol, sama ya masuk angin minum tolak angin gitu kan, udah di top
of mind gitu brand nya udah kuat.
P: nah selanjutnya untuk umm di industry ini, sebenernya skill dari pekerja nya itu
dibutuhkan skill khusus gasih pak?
P: misalnya umm harus kah dia bisa mengoperasi eee mesin tertentu atau misalkan
kayak…
N: enggak sih. Enggak sampe sih kalo skill skill khusus. Kalo misal kayak operational
mesin mah sama aja. Yang penting product knowledge nya.
P: umm nah kan menurut kementerian perdagangan, itu indsutri jamu di Indonesia
merupakan salah satu industry yang menjanjikan berkaitan dengan sumber daya alam.
A26
Nah ini menurut bapak sendiri bagaimana pendapat bapak atas pernyataan ini. Apakah
emang sekarang sumber daya Indonesia lagi kaya-kaya nya terkait eee jumlah dan
kualitas?
N: he em, kalo kita ngomong tanaman sumber daya, ya kayak misalnya eee sido
muncul, herbal, bahan bakunya tuh emang semua ya, yang khusus herbal ya, itu semua
bahan baku utama tanam-tanaman itu hampir mungkin 90-95 persen itu diambil dari
Indonesia. Lokal. Ntah yang dari Jawa, Kalimantan, Sumatera, itu kita ambil semua
local resources gitu. Jadi ya saya setuju gitu kalo misalnya emang menjajikan, ya
menjanjikan. Source nya gampang, resource untuk raw materialnya juga gampang, dan
juga satu, trend kedepannya adalah konsumen mau sesuatu yang lebih safe, sesuatu
yang lebih natural, kayak trend back to nature gitu-gitu itu yang lebih saya bilang sih
lagi on going lah. Even di amerika pun penggunaan chemical drugs itu lumayan
berkurang. Kayak misal di jepang juga dokter-dokter sana juga udah bikin prescription
untuk eee obat-obat herbal. Di China apalagi, government nya sangat-sangat support
traditional Chinese medicine yang which is umm even kayak sinshe lah kalo sana kan
notok-notok tradisional sinshe sinshe nya tuh udah punya license seperti itu. Makanya,
menjanjikan gak herbal? Ya menurut saya sih quite promising indsutri ini.
P: nah tadi kan bapak bilang 90-95 persen itu raw materialnya kan dari Indonesia, nah
untuk sido munculnya sendiri tuh apakah sulit mendapatkan akses terhadap raw
material tersebut atau emang sido muncul udah punya eee ini dengan petani sendiri
gitu?
N: ooo kita kerja sama sama seratusan kelompok tani. Jadi kita ada kerja sama sama
ratusan kelompok tani yang waktu musim panen, itu kelompok tani tersebut serratus
persen supply ke kita. Jadi kita akan beli di harga berapapun pas panen, tentunya pas
harga lebih murah, pas panen itu kita beli mereka mau panen berapapun kita beli
semuanya gitu. Jadi kita kadang-kadang gapernah merasa khawatir tentang masalah
raw material seperti itu. Even kaya misalnya petani-petani kita misalnya jahe, kita ada
source nya di jawa. Even misalnya kayak yang susah-susah dicari tuh saya juga waktu
masuk sini gatau nih ini ada taneman namanya yang susah-susah, dia bisa metik di
Sumatera, atau Kalimantan, yang mereka tuh akan 100 persen supply ke kita gitu.
N: nah kita gapernah, kita gapernah, kadang-kadang kalo misalkan kita ngomong
“kamu supplier kita bisa teken harga kamu” gitukan sido muncul tidak melakukan
praktek seperti itu. Pokoknya harga pasarnya berapa, kita ambil semua. Kita gak mau
kayak um teken harga petani lagi.
P: kalau misalkan sebaliknya bagaimana pak misalkan petani yang menekan harga ke
sido muncul?
N: umm kemungkinan ga akan pernah ya. Harusnya enggak. Karena kita juga tau harga
pasar berapa, kondisi pasar gimana gitu.
P: berarti untuk akses ke raw material nya sendiri gada masalah ya pak
N: gak gak ada masalah. Kaya misalnya pernah suatu saat tuh eee harga salah satu raw
material tuh naik. Naiknya tinggiii banget jadi kita bingung. Tapi emang kita tau harga
naiknya tinggi itu kenapa. Karena di wilayah tersebut emang lagi kurang, panennya
gagal segala macem.
P: ohh..
N: jadi kita bisa ya maksudnya kita gak akan menekan harga gara-gara itu turun segala
macem, kita ga neken harga gitu.
P: oke.. umm nah untuk berarti untuk yang barrier tadi itu orang mau join industry ini
sebenernya gampang ya pak asal ada resep?
N: umm ya saya gamau bilang gampang. Karena ya resep nya itu yang paling susah.
Makanya saya bilang high barrier entry, karena ga banyak perusahaan-perusahaan
herbal yang bisa besar gitu. Umm gabisa besar sebesar sido gitu karena apa karena
satu, brand nya harus lebih kuat, which is brand nya kuat itu bukan perkara perkara
gampang. Kita bangun brand ini perlu puluhan tahun gitu. Saya akan tetep bilang eee
industry herbal ini high barrier entry gitu. Meskipun yang rumah-rumahan kecil itu
bisa, tapi ga akan sebesar ee sido muncul. Maksudnya kalo untuk menjadi sebesar sido
muncul itu akan butuh waktu yang sangat lama. Even kalo kamu peratiin kalo beberapa
kemaren kan nyonya meneer aja collapse, yakan, jamu jago juga certain apa berapa
persen market sharenya sama Cuma produk tertentu doang seperti itu.
A28
P: umm oke untuk selanjutnya, apakah ada segmentasi pasar tertentu yang khusus
ditargetkan untuk industry ini. Mungkin menargetkan khusus untuk orang-orang tua
gitu.
N: umm sejak munculnya tolak angin, kita melihat kalo dari konsumen dari tolak angin
tuh all across demographic, maksudnya semua semua ee semua lini umur, pendapatan,
semua konsumsi tolak angin. Profesi apapun, umur berapapun, gender apapun tetep
konsumsi tolak angin. Tapi kita tetep bikin satu khusus untuk anak-anak. Itu satu yang
khusus kita bikin umm varian khusus untuk anak-anaknya dengan ukuran lebih kecil,
dosis lebih kecil, rasanya lebih manis, kurang pedes gitu. Tapi emang di khususin buat
anak-anak. Soalnya kalo tolak angin cair itu konsumsi untuk 12 tahun keatas, yang
anak anak itu untuk 12 tahun kebawah. Makanya kita bilang produk tolak angin itu
cukup terdiversifikasi karena kita punya untuk anak-anak ya untuk orang dewasa juga,
gitu.
P: hmm iyaiya.. okee umm di berita berita saya sempat menemukan terdapat
pernyataan yang dimana di pasar domestic itu sido muncul merupakan perusahaan
herbal di Indonesia yang memiliki paling banyak pengalaman internasional, apakah
pernyataan ini benar?
N: kalo Indonesia sih ya produk herbal yang paling banyak di ekspor ya cuma tolak
angin doang. Paling ama kuku bima.
P: berarti memang betul ya pak pengalaman sido muncul di pasar internasional itu
sudah nomor satu di industry herbal?
N: eee kalo menurut saya statement itu bisa iya bisa enggak sih ya bisa dua
kemungkinan karena kita gatau seberapa besar ekspor nya yang lain kan? Kita gapunya
data. Nanti kalo kita main claim kan gabisa
P: nah untuk industry obat atau supplement herbal ini sendiri ada institusi lain apa gak
yang sekiranya mungkin bisa menjadi catalyst gitu yang mendukung atau kerja sama
dengan industry ini gitu misalnya industry mobil sama industry ban.
N: heem. Berkesinambungan lah ya, kita juga pasti butuh industry distribution channel,
industry logistic segala macem, semarang herbal juga ya kita kan butuh industry-
industry berkesinambungan juga. Itukan vertical kan
P: iya pak, kalau yang horizontal nya mungkin? Yang tetangga-tetangga nya gitu
soalnya kayak distribution sama ekstrak tadi itukan masih dibawah sido muncul
N: sebenernya ya kita, sebenernya kalo kayak team up catalyst ya yang tadi saya
bilang, logistic, distribusi terus packaging semua itu ya catalyst kita. Karena gini
kebetulan kita udah punya aja gitu, sebenernya kalo misalkan kayak ngomong astra,
astra punya otomotifnya, astra juga punya autoparts gitu punya ban nya gitukan.
Sebenernya catalyst industry nya juga ya, sebenernya tipikal industry di Indonesia kalo
misalnya udah punya satu, dan modal capital nya kuat, dia akan buy in buy in buy in
dan akuisisi perusahaan perusahaan yang menurut dia sebagai catalyst nya dia untuk
team up untuk jadi satu konglomerasi yang gede, gitu. Kayak misalnya sido muncul
juga kan kita team up dengan farmasi kan, karena kenapa satu, untuk distributionnya
ke yang bidangnya farma seperti itu. Jadi kalo tadi saya bilang as long as its related
with health care industry dan consumption maksudnya yang berhubungan dengan
konsumsi kesehatan atau health care industry, itu kita bisa team up, gitu.
P: oh oke baik. Nah untuk sifat dari persaingan diantara competitor yang seimbang
dengan sido muncul ini bagaimana untuk sekarang-sekarang ini pak apakah sedang
ketat, atau kadang tetap kadang enggak
N: ngg kalo dari sisi, ya kalo dari parameter paling gampangnya kan ya market
sharenya kan. Kalo ngomong persaingan dengan tolak angin tuh kita ada salah satu
head-to-head competition. Deltomed, antangin. Tapi by far size nya masih jauh. Kayak
misal market share kita tuh 50-55 persen, sedangkan deltomed kayak Cuma misal 20-
25 persen. Tapi itu head-to-head. Yang paling gede. Di segment masuk angin. Ya kita
ngomong persaingan selama beberapa tahun terakhir ini, ya kita masih market leader
meskipun ya kita masih ngerasain ada beberapa preassure. Itu kita gabisa pungkiri lag
namanya bisnis pasti ada persaingan tapi bagi sido muncul kita masih lumayan.
N: ngg ya kita pertama dari sisi government support sangat sangat support. Kenapa?
Karena jamu itu part of culture. Indonesian culture gitu. Yang bagian dari budaya
Indonesia which is ga akan mungkin dimatiin lah sama government. Dulu pernah ada
kaya gerakan minum jamu bersama di semua intansi pemerintah setiap hari kamis kalo
ga salah saya lupa di semua instansi pemerintahan gerakan minum jamu bersama. Ya
itu kan part untuk dorongan industry herbal di Indonesia, kedua dari sisi regulasi,
industry jamu tuh ee lebih mudah dibandingkan industry obat-obatan gitu. Kalo
misalkan obat-obatan mau registrasi suatu produk, tes produknya itu bisa sampe
ummm taunan. Mungkin paling cepet itu tiga tahunan. sementara untuk jamu, itu
paling cepat paling cepet itu bisa bisa bisa enam bulan udah keluar. Atau enggak
setahun lah. Enam bulan sampe setahun. Karena bisa juga kan dua tahun, tapi dari sisi
regulasi kita oke, selama semua produk kita 100 persen herbal, kita dimudahkan.
P: ohh oke.. nah selanjutnya selain brand image, kemanjuran, serta rasa yang dapat
diterima oleh eee para customer itu, ada strength lain tidak yang buat sido muncul tuh
jauh lebih unggul dilain competitor-kompetitornya?
N: nhh yaa ummm other thing is I think distribusi kita. Distribusi kita udah massive,
terstruktur, jadi umm distribusi kita maksudnya barang gampang dicari lah. Itu salah
satu strength kita. Dibanding sama competitor lah. Skala ekonomi kita juga jauh lebih
besar juga termasuk strength jugakan, cuma tetep yang paling utama itu resep sama
brand, itusih yang paling utama.
P: betul pak. Nah kalo sebaliknya gitu pak untuk kelemahannya yang sekiranya bisa
lebih ditingkatkan oleh sido muncul?
N: umm mungkin ini ya inovasi ya menurut saya ya kan range dari produknya gitu
maksud saya. Ya seperti yang tadi kita bilang, ada anak, kita sih juga ada yang bebas
gula, eee itu kan yang penting kan tolak angin sendiri, kayak misalnya pepsodent,
pepsodent itu kan sudah generic kan, pepsodent kan ada yang whitening lah apalah,
terus dulu juga ada bikin untuk level yang anak muda kan close up, itu kenapa gabisa
konsepnya menurut saya kalo mau di adopt gitu untuk konsep akan lebih luas lagi lah
menurut saya. Misalnya tolak angin untuk milenials seperti sheila gitu, apa gitukan,
tolak angin cherry lah apa whatever it is ya, saya gatau. Atau lebih premium dengan
packaging lebih premium seperti aqua. Aqua ada yang botol bening kan? Botol bening
jual di warung gak? Enggak kan? Di hotel-hotel kan?
A31
P: iya pak
N: isinya sama gak? Sama. So that’s kind of thing, menurut saya nih ya, ini pribadi loh
ya, menurut saya itu yang room for growth gitu. Karena dominasi yang tolak angin
kuning itu strong sekali gitu. Jadi ya its our advantage at the same time our
disadvantage juga. Kalo begitu kena goyang juga its gonna effect the company a lot.
Menurut saya itusih. Sama exportnya. Room for growth nya masih besar sekali ya.
P: umm nah untuk yang tadi supplier petani 100 petani itu, itu hanya sido muncul aja
yang ngambil ke mereka atau ada perusahaan-perusahaan lain juga gitu pak?
N: nggak kalo kita udah kerja sama sama petani-petani tersebut, petani tersebut juga
gaboleh supply kemana-mana lagi kecuali ke kita doang karena kita yang beli semua
dia punya hasil panen gitu.
N: iya emang kerja samanya juga udah dari dari lama sih itu
P: untuk bargaining power dari suppliernya ada satu apa namanya daerah tertentu yang
bikin angkanya berat sebelah gitu misalkan ee konsumen besar di Jakarta atau…
N: yaiya pasti adadong semua rata tiap provinsi penjualannya samaa semua itu gak.
P: maksudnya kalau yang kecil-kecil itu bagaimana gitu apakah ada ketergantungan di
konsumennya supaya tetep ada penjualan?
N: justru ya kita liatnya bukan dari ketergantungannya kalo yang kecil-kecil itu
melainkan ya potential room to growth. Ibaratnya tuh kayak untapped demand jadi
demand yang belom kita maksudnya disitu ada demand, tapi kita belom create market,
ada potensi. Itu potensi gitu, tapi kalo misalnya kalo kita ngomong area-area kita di
Indonesia timur itu growth nya yang paling tinggi loh sekrang ini, ya karena itu tadi
kamu bilang itu dasar nya kecil. Tapi ya from nothing to something gitu justru room
for improvement nya lebih gede dibandingkan kita yang sekarang udah udah bener-
bener big nya di jawa lah. Jawa ini kan kalo mau ditambahin lagi kan susah kan.
A32
Karena misalkan gini kayak konsumsi nya udah lagi tinggi-tingginya kamu mau
jebolin lagi konsumsinya kan gamungkin kan. Karena populasi kan juga segitu-segitu
doang. Tapi justru yang diluar luar ini yang kecil kecil ini adalah room to growth.
Sama same thing untuk IB nya. IB nya juga kalo misalkan kita bisa push di IB juga itu
pasti sumber source of growth yang baru juga gitu bagi kita.
N: itu salah satu opportunitynya. I think hampir semua consumer goods industry
consumer goods product itu pasti ngeliat luar pulau jawa, Indonesia timur itu sebagai
salah satu potential. Apalagi sekarang dengan infrastrukturnya dibenerin dibenahin,
biaya logistic pasti akan lebih murah, kalo udah infrastrukturnya jadi, ya kita shipping
kesana itu udah enak banget pasti udah murah gitu.. ga cost yang tinggi lagi. Kalo dulu
kan kendalanya apa? Karena costnya tinggi, jualnya harga berapa cost nya tinggi, ga
akan mungkin
N: nah itu mungkin salah satu apa ya opportunity. Opportunity karena ya itu Indonesia
timur kalo infrastruktur nya semakin bagus semakin baik, ya mungkin logistic cost nya
akan semakin murah gitu.
P: selain hal tersebut ditambah dengan healty life trend itu apa back to nature itu, ada
opportunity lain gak yang dapat digunakan oleh sido muncul kedepannya?
N: hmm dengan ini berkembangnya e-commerce. Kita kan belom utilize banget gitu
e-commerce padahal sekarnag kan semua trend nya kan kesana gitu. Ya itu mungkin
dari sisi digital kalo kita bisa meng-grab ya itu salah satunya sih
P: tapi sido muncul udah ada kan ya pak sido muncul store nya?
N: iya sudah ada tapi ya hanya ada gitu cuman pelengkap belom jadi source. Saya
percaya kok mungkin lima tahun kedepan mulai pelan-pelan akan terus shift gituloh.
Nanti outlet outlet toko-toko apatuh namanya
N: iya toko fisik itu akan lama-lama tutup. Kamu liat aja hero banyak tutup, hypermart
tutup. This is true loh milenials tuh musingin semua perusahaan. Semua gerakannya
A33
musingin perusahaan, tiba-tiba orang shifting dari yang.. biasa kamu beli baju dulu
kan orang mesti liat dulu harus nyoba. Sekarang milenials gaperlu mereka ngukur
badan sendiri gitu lalu bisa beli asal dia liat gambarnya enak gitu. Nah contohnya
lainnya juga dulu kita kan disetir sama tv, tv itukan dulu fix, jam segini akan tayang
film ini. Nah ini kan kita siap-siap nih jam segini kita harus pulang, harus nonton duduk
depan tv apa yang kita mau. Kalo sekarang mau nonton apa aja, kapan kita mau, kapan
kita bisa, udah bisa. So it means that iklan yang di advertising di tv itu lama kelamaan
akan kegerus dan diganti dengan advertising youtube, adsense lah pokoknya gitu. Jadi
ya kalo untuk mengacu pertanyaannya itu apa area lain yang bisa di ini ya menurut
saya sih itu. Kita sudah saatnya sih digitalize. Jadi ya ada satu tim yang benar-benar
professional orang pengalaman untuk develop ini. Karena once you digitalize, you can
grab also the milenials. Kita buka apa-apa sekarang, tokopedia, bukalapak, sama airy
lah apa, traveloka. Kenapa ga itu kebayang gak kalo itu iklannya tolak angin?
N: ya yang pop up kan atau ya yang kayak di youtube-youtube itu sebelum dimulai
yang kayak video will played after this gitu gitu 5 second commercial. Ini jadi bisa
menjawab dua pertanyaan sekaligus. Opportunity dan threat. Opportunity nya kita
umm bisa digitalize, yang tradisional jadi modern lah pokoknya abis kita digitalize
juga kita bisa grab juga more milenials. In terms of threat, threat nya adalah kalo kita
bergeraknya lama, mungkin innovationnya kurang atau terlalu lama, kita akan
ketinggalan wave nya gituloh. Kita gak riding the wave gituloh. Kayak main surfing
lah. Orang main surfing kan nunggu wave kan. Nunggu wave nya kan, wave yang tepat
dia baru berdiri kan kalo wave nya too early, dia jatoh. Wave nya too late, dia ga akan
kedorong kedepan gitu.
P: termasuk ancaman untuk ini gak pak atau hanya sekedar competitor saja?
N: umm no I don’t think so ancaman ya. Kita complimentary. Even kita gini, kita gak,
kita tuh categorized as a supplement, not a remedy. Gitu. Jadi bukan yang pengobatan,
kita supplement. Makanya kalo misalnya in case udah sakit, ya tetep kita anjurkan ke
dokter atau gak ya take chemical drugs gitu. Kalau tolak angin kan suplemen. Case
A34
baru lagi nih di kuku bima, ada produk substitute? Ada. Meskipun bukan sama-sama
minuman energi. Tapi misalkan kayak minuman manis, kayak teh, teh kan selalu
booming banget kan. Nah itu kita lihat ya ada substitute. Ancaman substitute ada dari
produk lain. Tapi yang paling berasa mungkin di industry fnb nya kita. Karena orang-
orang butuh energi tuh eee gak cuma gak cuma modal kafein, tapi gula pun juga kasih
kita energi. Nah itusih.
A35
diimport oleh pedagang local. Namun sekarang kami mulai aktif melakukan
kegiatan perdagangan ke luar negeri secara aktif. Dengan mendirikan kantor
Cabang atau perusahaan yang memiliki potensi besar.
Alasan : karena produk kita sudah dapat diterima oleh masyarakat di masing2
negara, sehingga potensi ini tidak kami sia siakan.
Muncul baik itu mulai dari proses produksi sampai produk tersebut
sampai ke konsumen? (seperti contohnya mungkin industry logistic
yang dapat mendukung efektifitas dan efisiensi rantai penjualan
dan/atau pengiriman) • Industri pendukung: Industri kemasan,
Perusahaan distribusi .
10.Bagaimana sifat persaingan dalam industry ini? Apakah cukup ketat,
atau sangat ketat, atau mungkin bahkan persaingan dapat dikatakan
cukup longgar? Sejak kami IPO, maka keterbukaan informasi
mendorong perusahaan farmasi memproduksi produk sejenis ( tentu
saja dengan resep yang totally berbeda). Persaingan masih sehat, kami
masih memiliki market share yang paling besar, karena kami adalah
pemula dan pelanggan kami cukup setia menggunakan produk
kami.Siapa competitor terbesar Sido Muncul di industry
obat/supplement herbal ini? Antangin, Bintang tujuh masuk angin dan
masih banyak lagi yang lain. Mengapa demikian?
1. Hal-hal apa yang berkaitan dengan kekuatan atau strength yang dimiliki
oleh Sido Muncul sehingga Sido Muncul dapat unggul dibandingkan
competitor
lainnya dan menjadi market leader di industry ini? Unique selling point
apa yang dimiliki oleh Sido Muncul untuk menarik perhatian calon
konsumennya? Tentu saja khasiat dan rasanya yang disukai
Di masa yang akan datang, ancaman-ancaman atau threat apa (dari segala
aspek) yang sekiranya dapat muncul yang dapat mungkin menghambat
performs baik Sido Muncul? Apakah ancaman akan berkembangnya
produk-produk substitute merupakan salah satu ancaman bagi Sido
Muncul?Persaingan
A42
No : Field Note 1
No : Field Note 2
Tempat : -
Wawancara ini dilakukan dengan via email, yang dimana penulis mengirimkan
daftar pertanyaan ke email beliau, lalu keesokkannya narasumber membalas email
penulis dengan isi jawaban seperti yang dilampirkan
A46
No : Field Note 3
1 < 5.000.000 Ya
2 > 25.000.000 Ya
3 5.000.000 -15.000.000 Ya
4 < 5.000.000 Ya
6 < 5.000.000 Ya
7 5.000.000 -15.000.000 Ya
8 5.000.000 -15.000.000 Ya
9 5.000.000 -15.000.000 Ya
10 < 5.000.000 Ya
11 5.000.000 -15.000.000 Ya
12 < 5.000.000 Ya
13 5.000.000 -15.000.000 Ya
14 5.000.000 -15.000.000 Ya
15 > 25.000.000 Ya
16 > 25.000.000 Ya
17 < 5.000.000 Ya
18 5.000.000 -15.000.000 Ya
19 > 25.000.000 Ya
A52
20 < 5.000.000 Ya
21 > 25.000.000 Ya
22 < 5.000.000 Ya
24 5.000.000 -15.000.000 Ya
25 < 5.000.000 Ya
26 5.000.000 -15.000.000 Ya
27 < 5.000.000 Ya
28 5.000.000 -15.000.000 Ya
30 > 25.000.000 Ya
31 5.000.000 -15.000.000 Ya
32 < 5.000.000 Ya
33 5.000.000 -15.000.000 Ya
34 < 5.000.000 Ya
35 5.000.000 -15.000.000 Ya
36 5.000.000 -15.000.000 Ya
37 5.000.000 -15.000.000 Ya
38 < 5.000.000 Ya
39 5.000.000 -15.000.000 Ya
40 < 5.000.000 Ya
41 5.000.000 -15.000.000 Ya
A53
42 5.000.000 -15.000.000 Ya
43 > 25.000.000 Ya
44 > 25.000.000 Ya
46 5.000.000 -15.000.000 Ya
47 > 25.000.000 Ya
48 < 5.000.000 Ya
49 > 25.000.000 Ya
50 < 5.000.000 Ya
51 < 5.000.000 Ya
53 < 5.000.000 Ya
54 5.000.000 -15.000.000 Ya
55 < 5.000.000 Ya
57 < 5.000.000 Ya
58 > 25.000.000 Ya
59 5.000.000 -15.000.000 Ya
A54
Semakin banyaknya
tempat2 olahraga di mal.
7 Semakin banyaknya Ya 1 - 3 kali
restoran dengan menu
makanan sehat.
Sekarang concern
39 makanan bukan hanya rasa Ya 1 - 3 kali
tapi makanan enak yang
juga sehat
41 yA Ya 1 - 3 kali
8 Tidak
13 Tidak
14 Tidak
19 Tidak
25 Tidak
34 Tidak
49 Tidak
51 Tidak
52 Tidak
53 Tidak
56 Tidak
57 Tidak
1 oke Ya terjangkau
Ya karena ditujukan
untuk semua kalangam
3 Biasa saja Ya dan orang membutuhkan
produk tersebut lumayan
sering
10 Bagus Ya Iya
13
14
17
terjangkau, at least
18 baguus Ya
worth it
19
Terjangkau.. tidak
Membantu mengurangi
24 Ya terlalu mahal dr segi
masuk angin
ukuran
25
Sangat terjangkau,
Cukup baik sejauh yang saya karena harganya murah
26 Ya
rasakan. dan tidak buat dompet
bolong
Berpengaruh terhadap
32 Ya Terjangkau
kebutuhan badan
34
36
41 manjur Ya terjangkau
Sangat terjangkau.
Selama saya mengkonsumsi
Karena memang untuk
khasiatnya cukup bisa saya
43 Ya harga pasaran menurut
rasakan ketika sedang tidak
saya sudah pas untuk
enak badan
masyrakat
49
51
52
53
56
57