Business and consumer behavior that is always changing and growing rapidly requires companies to make changes in strategy to increase competitive advantage. The purpose of this study is (1) To determine the strategy of internal and external factors in implementing umbrella brand strategy at PT. Indofood as a competitive advantage. (2) To find out the strategy applied in developing the umbrella brand strategy of PT. Indofood Sukses Makmur as a competitive advantage. The results of this study are (1) Brand that has long been known by the people of Indonesia gets a weight of 0.104 and a rating of 3.8, Brand Image known as a food solution weighs 0.066 and a rating of 3.8, a Brand that has a sufficiently mature strategy is included in the Umbrella brand strategy and excels in competing . (2) PT Indofood's main strengths are brands that have a mature enough strategy, including umbrella brand strategy and excel in competition, Indofood's main weakness is Umbrella Brand (umbrella of many products) which creates confusion among consumers' perceptions of the products number, Indofood's main opportunity is Relationship with stakeholders (communities, retail traders), Indofood's Main Threats are several types of products that have similarities with competitors. (3) Indofood which is in quadrant I position that implements an aggressive strategy using internal strength to take advantage of external opportunities.   Keywords : umbrella brand, competitive advantage.

Health is very important for every individual. This will make people more concerned with their health and will make various efforts to maintain their health. On the other hand, the state is obliged to guarantee the health of its citizens. Therefore, the state established a National Health Insurance (JKN) program to provide health insurance for all Indonesian people. This government program is organized by the Health Insurance Administration Agency (BPJS). This study aims to determine the extent of satisfaction of inpatients in Melania Hospital to the services provided by the BPJS Health program. This type of research uses descriptive qualitative methods in finding answers to the level of satisfaction of inpatients in Melania Hospital using the BPJS Health program. This explanation is supported by questionnaire data obtained from 317 inpatients using the BPJS Health program. The results of this study indicate that the quality of services provided by Melania Hospital to BPJS inpatients is good with a total average value of 4.10. For tangible dimensions the average value is 4.10, the reliability dimension the average value is 4.04, the responsiveness dimension the average value is 4.12, the assurance dimension the average value is 4.09 and the empathy dimension the average value is 4.13. The advice given is that Melania Hospital should fix a number of indicators that are still below the standard set by Melania Hospital.                                Keyword :  BPJS Health program, Inpatients, Inpatients satisfaction

Kepuasan pelanggan merupakan inti dari setiap bisnis, dalam jangka pendek sebagai upaya untuk meningkatkan revenue dan profit, sedangkan dalam jangka panjang dapat membangun loyalitas dan memperkuat merek. Beberapa model kepuasan pelanggan yang telah digunakan pada beberapa Negara, seperti di Eropa (ECSI/ European Customer Satisfaction Index), Amerika (ACSI/American Customer Satisfaction Index), menggunakan model Partial Least Square (PLS). Minyak goreng bermerek memiliki market size mencapai Rp 12 Triliun setiap tahunnya. Persaingan minyak goreng bermerek semakin tinggi, sebagaimana ditandai dengan jumlah merek yang bertambah dan semakin menurunnya penetrasi konsumsi minyak terhadap GDP per kapita di Indonesia. Berdasarkan data Top Brand di Indonesia selama 10 tahun terakhir, terlihat bahwa sebuah merek minyak goreng superior dalam 3 tahun terakhir mulai mengalami penurunan. Hal ini merupakan salah satu indikator berkurangnya pangsa pasar sebagai akibat dari loyalitas pelanggan yang menurun meskipun kepuasannya tetap. Penelitian ini bertujuan untuk menjawab permasalahan (a) Bagaimana hubungan kausalitas yang terjadi di antara peubah-peubah latent, sebagai faktor penting dalam pembentukkan kepuasan pelanggan, (b)Apakah kepuasan pelanggan secara keseluruhan berpengaruh secara nyata terhadap loyalitas pelanggan, dan (c) Bagaimana bentuk terbaik dari model Partial Least Square kepuasan pelanggan. Metode penelitian menggunakan metode survey, di wilayah Kecamatan Bogor Barat, dan Kecamatan Tanah Sareal. Sampel berukuran 100 orang responden secara nonprobability. Hasil penelitian menunjukkan bahwa hubungan kausalitas yang terjadi di antara peubah-peubah latent pembentuk kepuasan pelanggan, seluruhnya memiliki hubungan kausalitas yang positif dan nyata. Faktor-faktor penting pembentuk kepuasan pelanggan yang telah ditetapkan dalam model Partial Least Square (PLS), memiliki pengaruh yang positif dan nyata terhadap loyalitas pelanggan. Bentuk model PLS terbaik dari kepuasan pelanggan minyak goreng di Kota Bogor, adalah dengan mengeluarkan indikator IMAGE3 pada peubah latent Image dan indikator LOYAL1 pada peubah latent Loyalty.   Kata kunci: model partial least square, kepuasan pelanggan, pereferensi konsumen

The purpose of this study was to determine the effect of the company's financial performance empirically, either partially or simultaneously to the fixed asset investment. Ratio used to look at the financial performance is return on investment (ROI) and total assets turnover (TATO). The research method used in this research is descriptive method, the method of research which not only gives an overview of these phenomena, but to explain relationships, test hypotheses, make predictions and find meaning and implications of a problem is solved. The data used are secondary data and processed data the authors. This study analyzes the relationship between ROI, TATO and fixed asset investment. The statistical method used is multiple linear regression and tested significance.  These results indicate that the variable ROI and TATO simultaneous significant effect on the investment of fixed assets. Tests showed that the partial and variable ROI TATO significant effect on the investment of fixed assets.   Keywords: Return On Investment, Total Asset Turnover, Fixed Asset Investment

Given the company's product attributes can know how much the level of customer satisfaction the company's products. To that end, the company has its own unique way and in a typical product attributes that customers will feel satisfied when buying products. Marketing activities can be done by improving and providing innovation to the product will be in production. Where products are manufactured must have a good product attributes in accordance with customer expectations, and creating customer satisfaction. This study aims to know the attributes of Herbal Products manufactured by Raudhoh. To find out the customer satisfaction in taking Herbal Products from Raudhoh. To determine the effect of product attributes on customer satisfaction Herbal Products Brand Raudhoh Raudhoh on international companies. The results showed the customer satisfaction of international raudhoh herbal products is 9.781. The calculated value of the correlation coefficient of 0.676 is obtained which means that there is a significant relationship with the closeness of the relationship strong and positive relationship between product attributes to customer satisfaction. the results obtained from the coefficient of determination 0.457, which means that the community has a contribution of 45.7% in creating customer satisfaction, and the rest is influenced by other factors   Keywords: product attributes, customer satisfaction

In today's era of globalization, rapid growth in the retail industry in Indonesia and is full of intense competition. Retail is one type of service companies that are closely related to the quality of service, so the researchers decided to examine the magnitude of the effect of service quality and consumer confidence in purchase decisions. Service quality is measured by three variables: the quality of interaction, the quality of the physical environment and quality of results. The method used in this study were: descriptive associative, while the data collection techniques conducted by distributing questionnaires. Questionnaire that will be deployed as many as 100 exemplar. To quantify this relationship, researchers used a method of path analysis with SPSS 17 for such tools. The results indicate that there is a fairly strong influence and significant relationship between service quality and consumer confidence as well as the influence of service quality and consumer confidence are also strong and significant impact on purchasing decisions. Keywords: Quality of Service, Consumer Confidence, Buying Decision.

The quality of the product is a combination of the properties of the product in use in accordance with customer’s expectations and goals. While differentiation is the effort of a company to differentiate its products from competitors' products in a trait that makes it more desirable. In consuming the products customers are often confronted by a variety of brands, the company should be able to create a quality product and has the distinction or differentiation in order to increase customer loyalty. The purpose of this study was to determine the quality of products J.CO Donuts & Coffee at the moment. To find product differentiation J.CO Donuts & Coffee at the moment. Determine the effect of product quality J.CO Donuts & Coffee on customer loyalty at this time. Then determine the effect of product differentiation J.CO Donuts & Coffee for the current customer loyalty, and to determine the effect of quality and product differentiation J.CO Donuts & Coffee on customer loyalty at this time. The results showed that the relationship of product quality on customer loyalty is equal to 0.749 and accounts for 56 percent of customer loyalty and product differentiation of the relationship variables on customer loyalty is 0.715 and accounts for 51.1 percent. Analysis of the correlation coefficient on the variable customer loyalty is to have 0.770 showed a strong relationship between the independent factors on customer loyalty, amounting to 77 percent. From this analysis it can be concluded that product quality and product differentiation effect on customer loyalty. This can be evidenced from the contribution of a given variable product quality and product differentiation on customer loyalty.   Keywords: Quality Products, Product Differentiation, Customer Loyalty

Working capital is one of important factors in a company. It’s current asset which easy to be cashed and utilized for daily operational activities of the company. The amount of reasonable working capital in a company is the amount of working capital which is enough or in mutual accord with the fund needed to finance the operational activities. The purpose of this research is to find out the correlation and impact of working capital on the company’s growth. The analysis is done to know whether the amount of working capital has correlation and impact towards the company’s growth. The research was conducted at PT. Indocement Tunggal Prakarsa, Tbk, the national companies running in cement. The result of the research shows that PT. Indocement Tunggal Prakarsa, Tbk has been efficient in managing their working capital. It’s proven by the more increase of working capital of the the companies. PT. Indocement Tunggal Prakarsa, Tbk has been able to make profit with the result that there is growth in the company. Yet, at PT. Indocement Tunggal Prakarsa, Tbk, the profit yielded cannot make the growth increases.   Keywords : Working capital; growth.

Each company established course aims to derive a profit or benefit that can be used for the welfare of the company owners or shareholders. In every company liquidity is an important part of measuring the extent to which companies are able to pay maturing obligations to its creditors. Liquidity is a measure of investor decision-making, in which investors learn the level of liquidity and profitability in order to take the right decision for the future. Through this research are expected to know how the liquidity of the company if it is in accordance with the standard value of liquidity compared with the same company with a view of the profit, if not then impact whether and how the best solution which can be given to the company. Regression coefficient PT. Medco Energi International Tbk shows that Return On Assets (ROA) has a positive effect on the current ratio. The result of F test for the company showed no significant effect between Return On Assets (ROA) of the current ratio, this is because there are other factors that affect the current ratio. PT. Medco Energi International has a significant effect between Return On Assets (ROA) on the current ratio.   Keywords : Return, Liquidity, Profit.

Operational cash flow is cash from operational activities of a company. By operational cash flow, the company can decide the fund available for the operational activities. The operational cash flow will be paid attention by the company management because it’s beneficial for decision making. Operational cash flow which increases can be expected to increase profitability due to the operational cash flow of the company will be able to decide how to utilize the fund available for the operational activities, but it must be accompanied by efficiency in the matter of operational expenses and the main cost of selling. By the increase of operational cash flow, it can be expected to raise the companies growth in selling due to the increase of operational cash flow of the company, it can rise production capacity which will be able to rise selling. In this study the author used a formula for operational cash flow (X) is operational cash flow on selling, a formula for profitability is profit margin, while for the company’s growth is salest – salest-1 – to salest-2. Moreover, the author utilized common size analysis, that is horizontal common size and vertical common size. Regression test result on PT. Holcim Indonesia, Tbk shows significance result of 0% from operational cash flow toward profit, which indicates that operastional cash flow has an effect with significance level as high as 10%. From regression test result of operational cash flow on the company’s growth, it’s obtained significance result of 9,2%, which indicates that there is an effect with significance level as high as 10%.   Keywords : Operational cash flow; profitability; growth

Fundamental analysis is a method of analysis using the fundamental strength of a country. In general, the fundamental strength of a country is shown by the country’s economic data. Fundamental analysis states that every stock has an intrinsic value. This analysis attempts to calculate the intrinsic value of a stock by using the fundamental data of the “ Company’s Financial Statements “, such as earning devidends, sales, capital structure, risk etc. This analysis will compare the intrinsic value with the market value to determine whether the market price of shares has reflected its intrinsic value or has not. The purpose of this study is to find out the company’s fundamental analysis with the liquidity ratio, the company’s growth, and the impact of the analysis on the company’s growth. The result of the research indicates that the two public companies analyzed for six years in terms of cash and cash equivalents, inventories, current assets and current liabilities is that PT. Holcim Indonesia, Tbk was stable. Concerning profit growth, PT. Holcim Indonesia, Tbk yielded profit. The analysis of those factors shows that it has positive effect for PT. Holcim Indonesia, Tbk which causes many investors will invest their funds. Keywords : Fundamental analysis; liquidity ratio; company’s growth

Service is a kind of direct and indirect communication from the producen to the costumer to measure how for the customer to buy and consume, if they can have satisfaction to the product that they will trust and keep using our product. The main target of this research is the identification how good is the service that give by MIRAH HOTEL Bogor, how big is the customer satisfaction MIRAH HOTEL Bogor.The method of analysis is quantitative method with regretion and correlation formula, to answer of question, when questioner used and draft to respondent. The Implication to image of the company a djuge from how the service and facilities inside MIRAH HOTEL bogor,  customer satisfaction and its implications for corporate image in question. services have a significant effect on perceived ease of customer satisfaction with a coefficient of 0,46. It can be proved by looking at the value of t statistics of 6,26 greater than 1,96. PLS results indicate that the construct of service quality has a positive effect on customer satisfaction This means that the first hypothesis is accepted, the proven quality of service  effect customer satisfaction. Quality of service that increases customer satisfaction  causes more significant effect on perceived ease of customer satisfaction with the coefficient of 0,46. It can be proved by looking at the value of t statistics for 11,90 of greater than 1,96. While the second hypothesis customer satisfaction has a positive effect on corporate image study was to prove the second hypothesis is accepted, customer satisfaction is proven to effect the company's image.   Keywords :  Service, Customer Satisfaction, Brand Image

Celebrity endorser is one of marketing communication. The use of endorser is to lift more famous product’s brand. Generally use an endorser as a celebrity is to invite people to always remember the brand on their mind. So is needed a appropriate selection of celebrity endorser with the product to be brought. It is expected to affect the brand image of a product. The purpose of this study was to determine the effect of celebrity endorser selection of brand image. To find out is to find out how a good selection of celebrity endorser and appropriate so as to produce a positive brand image of a product. Research on the author is in STIE Kesatuan Bogor. By using quantitative descriptive method and causality. The result and discussion showed that Pantene celebrity endorser selectively chose the sight of the commitment of their endorser, her profession is evident in each of their carrier success. The selection process of Anggun C. Sasmi to endorse Pantene is need a quite long. This affects the Pantene’s brand image as a market leader in the position of hair science which gained several awards. Celebrity endorser selection of indicators source credibility, source attractiveness, meaning transfer, and celebrity product congruence. Source credibility of Anggun C. Sasmi was not much influence on brand image of Pantene shampoo. While a celebrity product congruence has a positive influence, dominant, significant. Value of r or the correlation coefficient between the celebrity endorser’s selection of celebrity endorsers (X) with the brand image (Y) of 0,663 means that the relation between these variables is strong. It means that if X then Y up one unit will respond by 66,3%. So, the celebrity endorser’s selection which have a right process will affect the brand image of Pantene shampoo products. Keywords: celebrity endorser, brand image, Shampoo

Community is the right thing to deal with competitors, especially competitors that produce similar products. Through the community, the company will get the informations about complaints and consumer expectations.The community also can create emotional bonds and functional for their products, so customers will be customers who recommend products and company will defend the company's products even deaths (customer advocate). By utilizing a community, the company is expected to create customer loyalty that will impact on increasing sales volume and increased profits (earnings) of the company. Due to the company creates loyal customers is the primary mission to bring stability to earnings. If the company is able to create customer loyalty in its consumers, then it is likely to win the competition is open. Companies must be able to meet the anxieties and dreams of their customers to create customer loyalty, and the most minimal cost option is through the community. This study aims to determine how the responses of honda tiger motorcycle users who are members of the community. To find out how the level of customer loyalty on the honda tiger motorcycle users. To find out how the community influences on customer loyalty Tiger Honda motorcycle products. The results of the analysis of community influence on customer loyalty derived regression equation Y = 8.597 + 0.749 X, can be interpreted that, if the value is 1 then the community will increase customer loyalty by 0.749, or in other words it can be concluded that the loyalty of Honda motorcycles tiger at the moment is 8.597. the calculated value of the correlation coefficient of 0.687 is obtained which means that there is a significant relationship with the closeness of the relationship between the strong and positive community on customer loyalty. the results obtained from the coefficient of determination 0.472, which means that the community has a contribution of 47.2% in creating customer loyalty, and the rest is influenced by other factors. Keywords: Customer Loyalty, Users Community

Muslims have a rule that is standard in the conduct of life. no exception to the pattern of consumption is set Islam. Syariat role in the Shari'a requires Muslims to consume everything that is lawful and forbid eating unclean things. For Muslims, taking a lawful and good (Thayib) is manivestasi of obedience and devotion to God.The purpose of this study was to determine how the influence of kosher labeling on consumer buying decisions, product case studies on the Wall's Conello STIE consumers at unity, and also see what the Muslim Students and Non-Muslim Students of kosher labeling on packaged food products. The method used in the preparation of this research is descriptive method, that is to describe or depict the state of objects in the present study is based on the facts that appear or as they are to get the conclusion of the problem and look for ways to solve through analysis conducted by the tool author Regression and correlation test. The results of the analysis of the influence of kosher labeling on consumer purchase decisions Muslims obtained the regression equation Y = 9.943 + 0.761 X, can be interpreted that, if the value is 1 then the kosher labeling purchasing decisions will be increased by 0.761, or in other words it can be concluded that the purchase decision of Wall's Conello at the moment is 9.943. With a correlation coefficient of 0.705, which means that there is a significant relationship with the closeness of the relationship between the strong and positive labeling of halal Muslim consumer purchasing decisions. As for the non-Muslim consumers obtain the regression equation Y = 1.469 + 1.003 X. With a correlation coefficient of 0.623 which means that there is a significant relationship with the closeness of the relationship between the strong and positive labeling of halal Muslim consumer purchase decisions   Keywords: halal labeling, consumer purchase decision

Production cost is important in determining selling price and as a basis for management decision making to decide whether products manufacturing will be continued or discontinued. In addition, production cost has influence on firm’s profitability level; the smaller production cost, it will be inversely in proportion to its profitability. The purpose of this study is to see how far the role of production cost affects profitability. By making some adjustments in production cost such as making efficiency, total number of the company’s profitability can be increased compared to production cost which is still high. The research done at PT Sakti Kandakawana, located in Bogor. The result shows that PT Sakti Kandakawana is still be able to improve profitability by making some corrections on productionn cost. The assumption is the same number of selling will get higher profitability if it’s used lower production cost. Due to ineffective cost decreases more and more, the company has fund by efficiency without affecting products quality.  Based on the evaluation, it shows that the production cost applied so far is still wasteful caused by raw materials used are expensive. In addition, it appears that cost for overtime work is not effective campare to cost for regular work. Thereby, when more efficient production cost is determined, the company’s profitability can be increased.   Keywords:Production Cost; Company’s Profitability

Go public is share offering activity or other effects done by issuers. The problem which will be revealed is whether the company’s performance after becoming public company increases compared with its performance  before becoming public company. The purpose of this study is to analyze whether there is an increase in firm’s performance before and after becoming public company in Indonesia Stock Exchange. In this study the author carried out analysis on the performance of PT Bakrie Telecom Tbk. and PT Mobile-8 Telecom Tbk. The analysis on the issuers was done due to they are included in the companies conducting public offering in 2006 and they form similar companies operating in telecommunication sector. The period  studied is 2003 – 2009. The author got data concerning the research object from Money Market Reference Center and by downloading data from situs-IDX. The data obtained are in the form of a brief history of the two companies, the main activities of issuers, financial report in period 2003 – 2009, and stock price data in period 2006 – 2009. The method used is descriptive method. The research variables examined are firms’ performance before and after go public with indicators: liquidity ratios (current ratio, quick ratio, and cash ratio), debt ratios (debt ratio and debt to equity ratio), activity ratios (total assets turnover, fixed assets turnover, inventory turnover, accounts receivable turnover, working capital turnover, and accounts payable turnover), and profitability ratios (gross profit margin, operating profit margin, return on assets, return on capital employed, and return on equity). The result obtained from existing data analysis is PT Bakrie Telecom Tbk. and PT Mobile-8 Telecom Tbk. have better performance after go public. The analysis result of the two companies shows that the ratio after go public increases compared with before go public. Another analysis used is trend analysis. It’s the same with ratio analysis, analysis trend on PT Bakrie Telecom Tbk. shows higher trend if overall percentage compared with PT Mobile-8 Telecom Tbk. It can be concluded that PT Bakrie Telecom Tbk. has better performance than PT Mobile-8 Telecom Tbk.   Keywords:companies’ performance; go public companies

Translation exposure is the exposure of profit and loss balance sheet at a multinational company on nominal exchange rate. The potential of risk translation is used to measure change of foreign currencies exchange rate on domestic currency value of assets and foreign currencies owned by the company. Translation exposure is measured by current rate method and business debt is anticipated by forward contact hedging. The purpose of this research is to find out the risk level of translation exposure by current rate method, the management of current rate method itself, and the management of forward contract to business debt anticipation. The analysis method used is current rate measurement method, forward contract hedging calculation, and relevant variables management. The results show that for current rate measurement at PT Panasia Filament Inti Tbk., viewed from  2005 – 2009, YEN currency has the highest translation exposure percentage value and gets loss in translation exposure; for forward contract hedging calculation, viewed from 2005 – 2009, all currencies namely GBP, EURO, USD, CHF, SGD, and YEN  have various profit and loss from forward contract itself.   Keywords: translation exposure; current rate method; forward contract hedging; business debt

The purpose of this study is to find out the effect of the company’s performance to the welfare of shareholders by way of measuring the level of the company’s financial ratio expected having influence toward  the dividend level yielded. Based on the result of the study, the liquidity of PT Estika Yasakelola can be said has not satisfied yet because, observed from current ratio and quick ratio, PT Estika Yasakelola has found it difficult to pay short term debt that has been due date. Viewed in general, the profitability percentage has not been  satisfactory as well. It’s due to  the percentage of net profit margin  is too low, with the result that income left to cover the operational cost is too small. To improve the performance of of the company, PT Estika Yasakelola has to work more efficiently. The company must seek to improve cost efficiency by lowering cost items or increasing product selling price without reducing the competitiveness of the company. The description of solvency ratio fluctuation above reflects that the stability increase of the company in managing its dect is due to outstanding credit decrease caused by on time credit payment and because of the company keep continue to expand with its own fund. The result of this research shows that the company should improve its performance more,  work more efficiently, reduce cost items or increase product selling price so that the company will be able to reduce operational costs. PT Estika yasakelola must be able to manage the fund, so that the company’s profit increases more and more and the company will be able to survive unwaveringly. The management must be able to maintain the sharekolders’ trust. Therefore, the  level of shareholders’ welfare can be guaranteed.   Keywords: analysis of financial liquidity ratio; profitability, and solvency

Dividend policy is basically a company’s decision in determining how much net income wil be distributed to shareholders as dividend and how much will be retained. Dividend policy is able to influence intrinsic and  market value of a company. In this study, the proxy of dividend policy is Dividend Pay-out (DPO) as independent variable and intrinsic value as dependent variable with indicator that is multiplication result of Earning Multiplier (EM) and Company Market Value obtained from stock price data of LQ45 at closing price. The purpose of this study is to identify the relationship between variables, the influence of independent variable to dependent variable, and finally to measure how significant the influence of variable X to variable Y will be, dividend policy to intrinsic and market value of the company. This case study was conducted at PT Aneka Tambang Tbk. and PT Timah Tbk., both are mining company. The results of this study are: 1) Dividend policy proxied by DPO has significant influence and relationship to the intrinsic value of PT Aneka tambang Tbk. But, at PT Timah Tbk., dividend policy to intrinsic value is not significant with alpha as high as 193.064, it’s due to the dividend policy does not influence the intrinsic value, but the intrinsic value is more influenced by EPS. 2) Dividend policy proxied by DPO has connection and fairly significant influence with the company’s market value at PT Aneka Tambang Tbk. But, at PT Tima Tbk., dividend policy to the company’s market value is not significant with alpha as high as 54.859, it’s due to the dividend policy does not influence the company’s market value, but the intrinsic value is influenced dominantly by the company’s market value. The result of the research shows that the dividend policy at PT Aneka Tambang Tbk has  impact on intrinsic and market value better than the dividend policy has impact on intrinsic and market value at PT Timah Tbk.   Keywords: dividend policy; intrinsic value; market value