Qualitative Assessment of 4P-Marketing Mix : Launching Modified Resistance Band for Indonesian Martial Arts

Abstract

The martial arts sector in Indonesia is rapidly expanding. Several factors contribute to this growth, including advancements in digital technology and the incorporation of martial arts into the entertainment sector, which broadens the martial arts industry's reach. The spread of this trend affects practitioners in Indonesia who want to increase their strength performance, thus they need equipment that meets their needs at a reasonable price. Resistance bands have advantages over other martial arts equipment, thus they may be tailored to the needs of martial arts practitioners in Indonesia. This study will use secondary data to determine the suitability of the Indonesian martial arts market. The market assessment procedure for determining the 4P-marketing mix strategy begins with an environmental analysis to identify strengths and weaknesses before moving on to market identification to identify the appropriate target customers. The 4P-marketing mix plan is then tested using qualitative market research with 20 respondents selected through purposive sampling. To ensure that the in-depth interview goes smoothly, questions are asked without a predetermined framework. The interview results are examined using theme analysis methodologies to arrange and determine the pattern of informant responses. The study findings show that the 4P-marketing mix method was designed to fulfill market demands, albeit there is a minor mismatch in the price portion that necessitates an adjustment to the computation utilized to establish the product price. Future project recommendations are based on the availability of statistical data and quantitative approaches, as well as a larger budget that allows for a more diverse marketing strategy.