Improving the Business Model Canvas to Maintain the Sales Performance of Ornamental Fish Business Post Covid 19 Pandemic (Case Study: Ekuarium)

Abstract

Ekuarium is one of the ornamental fish retail businesses that experienced a decline in sales performance after COVID 19 Pandemic. The sales performance of this Ekuarium is relatively unstable even though it has the potential to continue to grow in the future. This study aims to analyze the elements that affect the sales performance of the Ekuarium and update the Business Model Canvas to improve sales performance. The research methodology used is a qualitative method with data collection through interviews and observation. The secondary data used in this study were obtained through books, journals, news, and other reliable sources. For environmental analysis, this study utilizes PESTEL Analysis, Porter’s 5 Forces, Customer Empathy Map, and Competitor Analysis to obtain data from the external environment. Furthermore, this study uses VRIO analysis to determine the competitive advantage of businesses. The collected data is then summarized using SWOT analysis and formulated in the TOWS Matrix, Value Proposition Canvas, and Marketing Mix (4P’s). The result of the study is that there are BMC updates on the Value Proposition, Customer Relationship, Channels, Customer Segments, and Revenue Stream blocks. It is hoped that the update can maintain and improve sales performance at the Ekuarium.