Marketing Mix Elements Significantly Drive Customer Savings Decisions, Moderated by Religiosity
A comprehensive marketing mix, encompassing product, place, price, promotion, process, people, and physical evidence, positively influences customer decisions to save, with religiosity acting as a moderating factor.
Al-Masharif Jurnal Ilmu Ekonomi dan Keislaman · 2020
Key Findings
- 01The marketing mix (product, place, price, promotion, process, people, and physical evidence) has a significant positive effect on customer decisions to save.
- 02Religiosity moderates the effect of the marketing mix on customer decisions to save.
- 03There is a significant positive simultaneous effect between the marketing mix and customer decisions to save.
Application
Design takeaway
Designers and marketers in the financial sector must consider both the functional aspects of their offerings and the emotional and cultural values of their customers when crafting marketing strategies.
How to apply
When designing marketing campaigns for financial products, consider how different elements of the marketing mix (e.g., product features, promotional messaging, branch aesthetics) might appeal to or be perceived differently by individuals with varying levels of religious adherence.
Project actions
- 01When researching a product or service, consider how its marketing is presented and if it aligns with the values of its target users.
- 02Think about how cultural or personal beliefs might influence user choices beyond just the product's features.
Method & Evidence
Variables
Strengths & Limitations
Strengths
- +Examines a comprehensive marketing mix.
- +Includes a moderating variable (religiosity) that adds depth to the analysis.
Limitations
The findings might be specific to the cultural context of Indonesia and Islamic banking, so applying them directly to other markets might require further investigation.
Reliability & validity
Reliability would depend on the consistency of survey responses, while validity would be assessed by how well the study measures what it intends to measure (marketing mix impact and religiosity moderation).
Think critically
How might the 'religiosity' variable be defined and measured in a way that is universally applicable across different cultural contexts?
Design Principles
"Customer decision-making is influenced by a combination of tangible marketing efforts and intangible personal values."
Understanding the interplay between marketing strategies and customer values is crucial for financial institutions. This research highlights that a well-executed marketing mix can be a powerful driver of customer acquisition and retention, especially when tailored to the specific cultural and religious contexts of the target market.
What This Means for Your Design
This study shows that how a bank advertises and offers its savings accounts (the marketing mix) makes a big difference in whether people choose to save there. It also found that a person's religious beliefs can make these marketing efforts even more or less effective.
How to use in your project
- 1.Use this to justify why you are focusing on specific marketing or communication aspects of your design project, especially if your target audience has strong cultural or religious affiliations.
Add to My Project
Quick Cite
(2020). Pengaruh Marketing Mix Terhadap Keputusan Nasabah Menabung dengan Religiusitas sebagai Variabel Moderasi. Al-Masharif Jurnal Ilmu Ekonomi dan Keislaman. https://doi.org/10.24952/masharif.v8i2.3828 Retrieved from https://designdex.org/study/96ff38ba-ba47-4971-a3e7-e66bbf62c584/marketing-mix-elements-significantly-drive-customer-savings-decisions-moderated-by-religiosity
Paragraph starter
The marketing mix, encompassing product, place, price, promotion, process, people, and physical evidence, has been shown to significantly influence customer decisions, with personal values such as religiosity acting as a moderating factor. This suggests that effective design strategies must consider not only the functional aspects of a product or service but also how it is communicated and perceived within the user's cultural and belief systems.
Source
Al-Masharif Jurnal Ilmu Ekonomi dan Keislaman
Pengaruh Marketing Mix Terhadap Keputusan Nasabah Menabung dengan Religiusitas sebagai Variabel Moderasi
journal · 2020
View sourceQuestions about this research
- What does the research say about marketing mix elements significantly drive customer savings decisions, moderated by religiosity?
- Designers and marketers in the financial sector must consider both the functional aspects of their offerings and the emotional and cultural values of their customers when crafting marketing strategies. Evidence: Al-Masharif Jurnal Ilmu Ekonomi dan Keislaman (2020).
- Why does "Marketing Mix Elements Significantly Drive Customer Savings Decisions, Moderated by Religiosity" matter for design?
- Understanding the interplay between marketing strategies and customer values is crucial for financial institutions. This research highlights that a well-executed marketing mix can be a powerful driver of customer acquisition and retention, especially when tailored to the specific cultural and religious contexts of the target market.
- How can designers apply this research?
- Designers and marketers in the financial sector must consider both the functional aspects of their offerings and the emotional and cultural values of their customers when crafting marketing strategies.
- What were the main findings?
- The marketing mix (product, place, price, promotion, process, people, and physical evidence) has a significant positive effect on customer decisions to save.. Religiosity moderates the effect of the marketing mix on customer decisions to save.. There is a significant positive simultaneous effect between the marketing mix and customer decisions to save.
- What research method was used?
- Quantitative research.
- How strong is the evidence?
- Evidence strength is rated Strong effect, based on a 2020 journal from Al-Masharif Jurnal Ilmu Ekonomi dan Keislaman.
- What should I do differently in my next project?
- When designing marketing campaigns for financial products, consider how different elements of the marketing mix (e.g., product features, promotional messaging, branch aesthetics) might appeal to or be perceived differently by individuals with varying levels of religious adherence.
- What are the limitations?
- The study is specific to one bank (BRI Syariah KC Semarang) and may not be generalizable to all financial institutions or markets. The definition and measurement of 'religiosity' can be subjective.
- Is there evidence that marketing mix affects design outcomes?
- All aspects of the marketing mix contribute positively to a customer's decision to save, and a customer's religious beliefs can influence how strongly these marketing elements affect their choice. Understanding the interplay between marketing strategies and customer values is crucial for financial institutions. This re Source: Al-Masharif Jurnal Ilmu Ekonomi dan Keislaman (2020).
- Where does this customer research apply?
- Financial services, specifically Islamic banking. It sits within innovation & markets research on designdex.org.
Related research topics
marketing mix design research · evidence on marketing mix · does marketing mix improve design outcomes · customer studies for designers · marketing mix and customer findings · innovation & markets research evidence