PROPOSED MARKETING STRATEGY TO INTEGRATED MARKETING COMMUNICATION BY UTILIZING DIGITAL BANKING (CASE STUDY AT BANK SYARIAH INDONESIA)

• Main Author: Dewi Yuliana, Putri
• Format: Theses
• Language: Indonesia
• Subjects: Manajemen umum
• Online Access: https://digilib.itb.ac.id/gdl/view/62513
• Institution: Institut Teknologi Bandung

The development of technology has been a key factor in increasing digital transactions in Indonesia in recent years. This rapid change has also triggered the high use of technology at individual level and shifts in consumer behaviour. Furthermore, the Covid-19 outbreak, which turned into a pandemic in 2020, also accelerated the shift in consumer behaviour from offline transactions to online transactions. This is also favoured by the total population in Indonesia where the majority of the population is in the productive age group who are digital savvy. This circumstance creates a challenge as well as an opportunity for most industries, including the banking industry, to change their business model through digital banking to increase the number of customers. On the other hand, the low market share of sharia bank assets is a challenge in itself to increase assets dominated by third party funds through digitalization. Bank Syariah Indonesia (BSI), one of the national Sharia banks, has also been digitalizing to meet the needs of financial transactions through mobile banking. However, the size of online account opening (Burekol) is still relatively low compared to that of the competitors in terms of total account openings. This study was aimed at providing alternative business solutions for the company to be able to face the problems. This study accomplished a conceptual framework first to form a basic framework for the important factors for consumers in intention use. After that, the researcher made a research framework to get to the root of the problems arising from internal and external factors. External factor analysis in this study used PEST analysis, industry analysis, competitor analysis and customer analysis. Customer analysis was made to determine the important factors for consumers in determining behavioural intentions to adopt BSI mobile. The model examining the factors in this study used constructs in the unified technology acceptance user technology (UTAUT) extension theory, UTAUT 2. In this study, perceived value was the construct for non-monetary value from price value. Perceived credibility was also included to predict behavioural intentions. This study used a questionnaire involving 305 respondents as a crossgenerational sampling in Indonesia. The researcher used Structural Equation Method (SEM) and smartPls 3.0 software to analyse the data. The researcher found that perceived credibility was the strongest predictor of an individual's behavioural intention to adopt mobile banking. In addition, performance expectancy, effort expectancy, facilitating conditions, habit and perceived value were also the other significant predictors of consumer behavioural intentions. Meanwhile, effort expectancy, social influence and hedonic motivation had an insignificant relationship with consumer behavioural intentions. The internal analysis included STP, 7P Marketing Mix, Resource and Capabilities, as well as VRIO framework. The next step was to perform a SWOT analysis to find out the internal strengths and weaknesses, as well as the company's external opportunities and threats. Then, the researcher conducted an analysis of the root cause of the problem to find out the external and internal problems faced. Based on the results of the analysis, the researcher found five internal factors that the company could improve. The five factors represent the marketing mix, including price, promotion, product, process and people. After that, the researcher made seven alternative business solutions through TOWS matrix analysis toward the formulation of marketing strategies. The results the researcher found were that there were three solutions that could be implemented in the company through marketing strategy. This research is expected to enrich insight into the mobile banking adoption and can help the banking industry, especially sharia banking in Indonesia, in launching a strategy to increase market share through digitalization of banking, especially for mobile banking services.