Business Model Formulation For Yarn Store As Cultural Tourism

A Case Study of Mondu Crafts

Authors

  • Ameera Rahil Sahira Widodo School of Business and Management, Institut Teknologi Bandung
  • Evy Rachmawati Chaldun School of Business and Management, Institut Teknologi Bandung

DOI:

https://doi.org/10.58229/jcsam.v2i2.250

Keywords:

Business Model Canvas, SWOT, PESTEL, Cultural Tourism, Yarn Store

Abstract

This study aims to develop a sustainable business model for the first physical store of Mondu Crafts, a yarn store targeting cultural tourism. Research objectives include analyzing market characteristics, identifying factors affecting the business, and designing a suitable strategy. A mixed-method approach was used, employing questionnaires and interviews, analyzed through descriptive and cross-tabulation methods. Key findings indicate strong interest in Mondu Crafts, especially among females aged 17-35. High-income groups face time constraints, while lower-income groups face budget limitations. Strategies such as offering free, short trial workshops are recommended. Results highlight the trend for one-stop shops, integrating sightseeing, food, activities, and souvenirs. Long-term sustainability suggestions include integrating AI-based language translation services and eco-friendly initiatives. Establishing Mondu Crafts Cafe & Store in Bandung is both market-viable and financially feasible, with potential expansion to Bali for a broader reach. The study provides practical insights for developing a robust Business Model Canvas for a creative economy as a cultural tourism.

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Published

2024-08-15

How to Cite

Widodo, A. R. S., & Chaldun, E. R. (2024). Business Model Formulation For Yarn Store As Cultural Tourism: A Case Study of Mondu Crafts. Journal of Consumer Studies and Applied Marketing, 2(2), 146–155. https://doi.org/10.58229/jcsam.v2i2.250