Analysis of Murabahah Financing Marketing Strategy at PT BPRS Amanah Insan Cita, Medan, North Sumatra, Indonesia

Andri Setiawan, Endang Sulistya Rini, Isfenti Sadalia and Muhamad Toyib Daulay

International Journal of Science and Business, 2019, vol. 3, issue 2, 64-73

Abstract: Financial institutions are one of the factors driving the economic growth of a country; they play an essential and indispensable role. One of the Islamic banking financial institutions, whose operational pattern follows the principles of sharia or Muamalah Islam, is that the BPRS has two main functions, namely the fund collection function and the financing function. The purpose of this study is to analyze one of the strategies that can support the BPRS to carry out its functions, namely the marketing mix strategy (product, price, place, promotion, people, process and physical evidence on interests and decisions using Murabahah Financing in PT BPRS Amanah Insan Cita. Financing is the provision of funds or receipts in the form of profit sharing transactions in the form of Mudharabah and musyarakah, lease transactions in ijarah muntahiya bittamlik, sale and purchase transactions in the form of murabahah receivables, loan transactions in the form of qardh receivables, and leasing transactions in the form of ijarah for multilateral transactions based on agreement between sharia banks and other parties requiring the party financed or funded by the fund to recover the funds after a certain period of time in exchange for ujrah, without compensation or profit sharing.The sample in this study is PT BPRS Amanah Insan Cita Medan totaling 168 customers. The research was conducted at the location of PT BPRS Amanah Insan Cita. The results showed that the most influential variables on interest and the decision to propose Murabahah financing were product variables. While the variables with low effects are price and process. The strategy that needs to be done to increase further interest and the decision to propose Murabahah financing is to improve prices and the marketing process.

Keywords: Marketing Mix; Intention to Apply; Decision; Murabahah; Financing (search for similar items in EconPapers)
Date: 2019
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