Developing Strategies to Improve Business Model of Online Laundry Marketplace Startup

Abstract

The Infineeds is a startup engaged in online laundry marketplace services for households. The current online marketplace business can be considered as a fairly competitive business, especially for Infineeds which is a new business or startup. Therefore, it is important for Infineeds to have a well-prepared sustainable business model. The Business Model Canvas was used to analyze Infineeds' business model. With a Strengths, Weaknesses, Opportunities, Threats analysis approach, alternative business development strategies are obtained that are in accordance with the company's internal and external environmental conditions. The weighting using Quantitative Strategic Planning Matrix is done to get alternative priorities for business development strategies. The priority alternatives are then included in the Business Model Canvas as a new component. The results of the analysis show that Infineeds is in a growth-oriented strategy position, which is to take advantage of internal strengths to take advantage of as many opportunities as possible with the highest alternative development strategy is the strategy to using Search Engine Optimization with Total Attractiveness Score is 6.62 as well as the development of a business model canvas on the components of channels, key activities, and key partners

Business Strategy: Case Study of Umi, Lahadeng Corner, and Nuca MSMEs

“…SWOT and QSPM analysis can be used in developing strategies for a sustainable business from an online laundry marketplace startup, the Infineed. The analysis results show that the Infineed is in a growth-oriented strategy position, namely utilizing internal strengths to take advantage of as many opportunities as possible, with the highest alternative development strategy being the strategy of using search engine optimization, collaborating with payment gateway providers and utilize paid advertising and social media for promotion (Naufinda Asnin et al, 2021). I Made Kartika and her friends conducted research using QSPM analysis.…”

The Impact of Social Media Marketing on Small and Medium Scale businesses: A case study of laundry businesses in Port Harcourt, Rivers State, Nigeria

“…Overall, the study implies that social media advertising, communication, and crowd engagement contribute to improved SME performance in Zimbabwe. Asnin et al (2021) conducted research aimed at identifying the social media marketing strategies used by small-and mediumsized enterprises (SMEs) in Malaysia. They also examined the impact of these strategies on business performance.…”