STRATEGIC MARKETING ANALYSIS FOR DIGITAL BANKING MARKET DOMINATION IN INDONESIA WITH CUSTOMER CENTRICITY

• Main Author: Firdaus Agung, Mochammad
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/78060
• Institution: Institut Teknologi Bandung

PT Bank Mega Syariah Indonesia (BMS) as a subsidiary of CT Corp that focus on syariah banking, initiate to compete in digital banking competition. BMS launch M-Syariah in 2020 as their starting to enter in digital banking product and services. The banking competition in Indonesia is really tight since most of banking have similarities for its product and services, also most of the bank in Indonesia currently provide digital banking. Furthermore, the sharia market in Indonesia still stagnant due to financial literacy and sharia awareness that still low in customer side. In early 2023, after pandemic situation in last two years, Indonesia’s economic growth is promising and also the lessons learned from pandemic that all stakeholder contributes to accelerate digital awareness almost in every public sectors. This study is to propose the marketing strategy that can implemented in PT Bank Mega Syariah for customer acquisition and to analyze any opportunity that need to considered by the banks to running different marketing strategy in digital banking competition. In this research, the author explores and analyze the business problem into two frameworks analysis, consist of internal and external factors. The internal factors explore SWOT, VRIO analysis and TOWS matrix and the external factors explores industry, market and competitor’s situation using PESTEL and Porter’s Five Forces. For last three years after M-Syariah launches, the user adoption is still low and not increase significantly. BMS need new marketing strategy for customer acquisition activities and to expand their market with their capabilities to capture new opportunities.