Marketing Strategy for Murabahah Financing Products at Islamic Rural Banks in East Java Indonesia

Marketing Strategy for Murabahah Financing Products at Islamic Rural Banks in East Java Indonesia

This study aims to identify the characteristics of the marketing strategies used by Islamic Rural Bank (IRB) in East Java. A number of recommendations were further explored in the results of individual studies that had been carried out previously on IRB in East Java. Marketing in this study is intended as an effort to acquisition and retention of IRB customers. This research is a literature study using secondary data to answer research questions. Secondary data is obtained from scientific literature published and published online. The search engine used is Google Scholar with the keyword [BPRS murabahah “East Java” marketing]. Using this keyword, 271 search results were obtained. This number is quite relevant to the situation of Islamic economic research in Indonesia. About 90% of this amount can be accessed completely by researchers. After that, the researcher reads one by one the article to get a description of the marketing strategy that is carried out in association with the results of the research concerned. Only research that discusses murabaha or wider (general funding) is taken for further analysis. Through this procedure, 16 relevant studies were found and could be used for further analysis. Data is then analyzed using the logic of research, related theories, the results of similar research from data and the results of research in a broader context. At the end, a number of recommendations can be taken to develop a better framework and therefore a better marketing strategy. This study recommends the use of alternative SWOT methods to formulate strategies such as SPACE marketing strategy and AWOT marketing strategy.

Author (s)  Details

 Edi Santoso Wiyono
Faculty of Economics, Universitas Muhammadiyah Ponorogo, East Java, Indonesia.

Rashidah Mohamad Ibrahim
Faculty of Economics and Management Sciences, University Sultan Zainal Abidin, 21300 Kuala Nerus, Terengganu, Malaysia.

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