Creating Effective Go-to-Market Strategy for Brand New Beef Company in Indonesia

With a population of more than 270 million people, Indonesia is one of the largest beef consumption markets in Southeast Asia. Beef consumption in Indonesia continues to rise in line with economic growth, urbanization, and increased purchasing power of the people. The beef market in Indonesia is quite diverse, with demand varying depending on factors such as region, culture, and consumer preferences. This sector is also influenced by government regulations aimed at improving food self-sufficiency and national food security. However, the beef sales industry in Indonesia faces significant challenges, including price fluctuations, unstable supply, and competition from imported meat products.

The Story

A brand new beef company wants to launch products in the Indonesia market but struggle to create effective go-to-market strategies to differentiate from other competitors in the crowd market. So, they contacted Monica & Co Business Advisory to seek advice regarding beef market conditions in Indonesia and go-to-market strategy for them to compete with other existing brands.

To overcome this problem, Monica & Co Business Advisory tries to structure the business problem and decide market research objectives in order to solve this problem. Not only that, we also did a thorough analysis, such as market analysis, consumer analysis, product analysis, and competitor analysis. Market analysis provides an overview of how the beef market in Indonesia works, market size, market segmentation, market trend, estimated revenue that can be obtained by a brand new beef company, as well as the challenges and opportunities that exist. Consumer analysis provides an overview (demography and psychography) of a beef customer's targets, pain points, and their needs. Product analysis shows types of products that have the potential for the highest sales in the marketplace. Meanwhile, competitor analysis provides an overview of competitor products, services, and their marketing strategy.

Our Approach

From our analysis, Monica & Co Business Advisory give some insight and go-to-market strategy recommendations for a brand-new beef company to launch their new products successfully and raise their brand awareness for potential new customers. Here are some go-to-market strategy and insight that we give:

• First, data shows that the total market size for meat sales in Indonesia is predicted to be around US$ 18.47 billion per year by 2024. And it is expected to continue growing, with a growth rate of 7.6% per year. For the meat sales industry, it can be divided into three segments: Fresh Meat, Vegan Meat, and Processed Meat (Corned/Canned Food). The revenue that can be generated per capita in 2024 is projected to reach US$ 66.00 or equivalent to IDR 1.024.254.

• A brand new beef company can innovate for more than just selling meat. It can also sell cooking bundling packages such as stewed meat, beef tongseng, and oxtail soup. In these cooking bundling packages, spices and raw meat are already included so that consumers can simply cook them directly. Some examples of cooking menus can be displayed such as the Rendang menu package (Nusantara food), Bulgogi menu package (Korean food), and Rosemary Garlic Steak menu package (Western food).

• Last but not least, a brand-new beef company also can create organic content in social media especially Instagram to boost their brand awareness because of other competitors only relying on ads from the marketplace. One of the campaign ideas that we recommend is "Get Quality Protein with Beef".

After gaining important insight and go-to-market strategy recommendations from Monica & Co Business Advisory, a brand new beef company hopes they can launch their new products successfully and get attention from potential customers immediately. They also hope they can compete with other competitors in the Indonesian beef market that already have so many players.

The Impact

*We take our clients' confidentiality seriously. While we've changed their names, the results are real

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