DEVELOPMENT OF MARKETING STRATEGY TO IMPROVE MIFX MARKET PENETRATION IN INDONESIA

• Main Author: Puspita Melati, Sella
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/84026
• Institution: Institut Teknologi Bandung

Indonesia's financial technology (fintech) sector has seen unprecedented growth, driven by increasing digital connectivity and a robust economic framework that supports innovation in financial services. Within this burgeoning sector, forex trading platforms, particularly those offered by PT HFX, play a pivotal role. However, despite the growing infrastructure and interest in financial markets among Indonesia’s youthful population, forex trading platforms like HFX have yet to fully penetrate this potential market segment. This thesis addresses the strategic development of marketing tactics aimed at enhancing HFX’s market penetration, focusing on the unique demographic and technological landscape of Indonesia. Employing a mixed-methods research approach, this study integrates both qualitative and quantitative data to provide a comprehensive overview of the internal and external factors affecting HFX’s market presence. Internally, the research employs frameworks such as the 7P Marketing Mix and Segmentation, Targeting, and Positioning (STP) to evaluate HFX’s current marketing strategies and how effectively these align with market needs and expectations. Externally, the study considers socio-economic factors and regulatory environments that significantly impact the forex trading industry. The research findings highlight several key issues. First, there is a notable lack of awareness and understanding of forex trading among potential young investors, which limits market expansion. Second, HFX’s current marketing strategies are not fully aligned with the digital habits and preferences of younger demographics who prefer engaging, multimedia content and mobile applications. Third, regulatory complexities often hinder marketing flexibility, impacting the ability to implement aggressive marketing campaigns.