Islamic Financial Literacy, Promotion, and Brand Image Towards Saving Intention in Sharia Bank

Achmad Zainul Rozikin, Irmadatus Sholekhah

Abstract


This paper aims to empirically examine the relationship between Islamic financial literacy, promotion, and brand image and the intention of saving in Islamic banks. The data in the study were taken from 125 respondents. Respondents in this study were customers of Islamic banks, conventional banks, and were not yet customers of the two banks. This study uses quantitative research methods and analyzes the data using multiple regression models with SPSS 21 application. The results indicate that Islamic financial literacy, promotion, and brand image affect the intention to save in Islamic banks.


Keywords


saving intention, sharia bank, islamic financial literacy, promotion, brand image

Full Text:

PDF

References


Aaker, J. L. (1997). Dimensions of brand personality. Journal of Marketing Research, 34(3): 347 – 356. https://doi:10.2307/3151897.

Abdullah R, Razak ALA (2015) Exploratory research into islamic financial literacy in brunei darussalam. International Centre for Education in Islamic Finance. https://doi.org/10.13140/RG.2.1.4815.1765.

Abdullah, M. A., & Anderson A (2015) Islamic Financial Literacy among Bankers in Kuala Lumpur. Journal of Emerging Economies and Islamic Research, 3(2).

Ahmad, K., Rustam, G. A., & Dent, M. M. (2011). Brand preference in Islamic banking. Journal of Islamic Marketing, 2(1), 74–82. https://doi:10.1108/17590831111115259.

Ajzen, I. and Fishbein, M. (1980). Understanding Attitudes and Predicting Social Behaviour. Prentice-Hall, Englewood Cliffs.

Amin, H., Rahman, A.R.A., Laison Sondoh, S., Jr and Hwa, A.M.C. (2011). Determinants of customers’ intention to use Islamic personal financing. Journal of Islamic Accounting and Business Research, 2(1): 22-42.

Antara, P. M., Musa, R., Hasssan, F. (2017). Conceptualisation and Operationalisation of Islamic Financial Literacy Scale. Social Sciences & Humanities, 25 (S): 251-260.

Armstrong, G., and P. Kotler. (2009). Marketing – An Introduction. Upper Saddle River, NJ: Prentice Hall.

Awan, H. M., Siddiquei, A. N., and Haider, Z. (2015). Factors affecting Halal purchase intention – evidence from Pakistan’s Halal food sector. Management Research Review, 38(6): 640 – 660. https://doi.org/10.1108/MRR-01-2014-0022.

Bank Indonesia. (2015). Statistik Perbankan Syariah. https://www.bi.go.id/id/statistik/perbankan/syariah/Pages/sps_0615.aspx.

Bena, I., (2010). Evaluating Customer Satisfaction in Banking Services. Management and Marketing, 5(2): 143-150.

Bhabha, J. I., Khan, S., Qureshi, Q. A., Naeem, A., & Khan, I. (2014). Impact of Financial Literacy on Saving-Investment Behavior of Working Women in the Developing Countries. Research Journal of Finance and Accounting, 13(5): 118-122.

Chernatony, D., Malcolm, L. M. (1998). Creating powerful brands in consumer, service, and industrial markets. USA: Butterworth-Heinemann.

Cudjoe, A.G., Anim, P.A. and Nyanyofio, J.G.N.T. (2015). Determinants of Mobile Banking Adoption in the Ghanaian Banking Industry: A Case of Access Bank Ghana Limited. Journal of Computer and Communications, 3: 1-19. http://dx.doi.org/10.4236/jcc.2015.32001.

Dolich, I. J. (1969). Congruence relationships between self images and product brands. Journal of Marketing Research, 6 (1): 80-84. https://doi.org/10.2307/3150001.

Fishbein, M. & Ajzen, I. (1975). Belief, Attitude, Intention and Behavior: An Introduction to theory and research. United States: Addison Wesley Pub.co.

Gupta, S., Cooper, L.G. (1992). The discounting of discounts and promotion thresholds. Journal of consumer research, 19(3): 401–411.

Haque, A., Ahmed, K., and Jahan, S. I. (2010). Shariah observation: advertising practices of Bank Muamalat in Malaysia. Journal of Islamic Marketing, 1(1): 70-77.

Hardianto, D. S., Wulandari, P. (2016). Islamic Bank Vs Conventional Bank: Intermediation, Fee Based Service Activity and Efficiency. International Journal of Islamic and Middle Eastern Finance and Management, 9(2). http://dx.doi.org/10.1108/IMEFM-01-2015-0003.

Hazée, S., Van, V. Y., Armirotto, V. (2017). Co-creating service recovery after service failure: the role of Brand equity. Journal of Business Research, 74: 101-109. https://doi.org/10.1016/j.jbusres.2017.01.014

Isa Mohammad, H. (2015). 7PS Marketing Mix and Retail Bank Customer Satisfaction in Northeast Nigeria. British Journal of Marketing Studies, 3(3): 71 – 88.

Ismal, R. (2009). Model of Islamic monetary operation for liquidity management in Islamic banking: case of Indonesia 2000–2009. Gadjah Mada International Journal of Business, 11(2): 149-165.

Istiqomah, Y. N. A. (2015). The Influence of Marketing Mix (Product, Price, Place, and Promotion) and Service on Customer’s Decision of Using BSM Saving Products. Global Review of Islamic Economics and Business, 3(2): 073-098.

Jamal, A. A. A., Ramlan, W. K., Karim, M. A., Mohidin, R., & Osman, Z. (2015). The Effects of Social Influence and Financial Literacy on Savings Behavior: A Study on Students of Higher Learning Institutions in Kota Kinabalu, Sabah. International Journal of Business and Social Science, 6(11).

Keller, Kevin Lane. (1998). Strategic Brand Management: Building, Measuring, and Managing Brand Equity. New Jersey: Prentice-Hall, Inc.

Lien, C. H., Wen, M. J., Huang, L. C., Wu, K. L. (2015). Online hotel booking: The effects of brand image, price, trust and value on purchase intentions. Asia Pacific Management Review, 20(4): 210-218. https://doi.org/10.1016/j.apmrv.2015.03.005.

Mohammad, A. H. S., Ainim, W., Begum, S. (2012). Investigating the Impact of Marketing Mix Elements on Tourists ‘Satisfaction: An Empirical Study on East Lake. Europen Journal of Business and Management, 4(7): 273 – 282.

Naik, P. P., Saini, B., Armour, C. (2009). Measurement of patient satisfaction with community pharmacy services: a review. Pharmacy World & Science, 31(5): 525-537. https://doi.org/10.1007/s11096-009-9311-2.

Nidar, S. R., Bestari, S. (2012). Personal financial literacy among university students (Case study at Padjadjaran university students, Bandung, Indonesia). World Journal of Social Sciences, 2(4): 162-171.

Peter, J. P., Olson, J. C. (2008). Consumer Behavior and Marketing Strategy. 8th ed: McGraw-Hill/Irwin.

Puteh, A., Rasyidin, M., Mawaddah, N. (2018). Islamic Banks in Indonesia: Analysis of Efficiency. In Proceedings of MICoMS 2017: 331-336. https://doi.org/10.1108/978-1-78756-793-1-00062.

Rahim, S. H. A., Rashid, R. A., Hamed, A. B. (2016). Factor Analysis of Islamic Financial Literacy and Its Determinan: A Pilot Study. International Soft Science Conference (ISSC). http://dx.doi.org/10.15405/epsbs.2016.08.58.

Remund, D. L. (2010). Financial literacy explicated: The case for a clear definition in an increasingly complex economy. The Journal of Consumer Affairs, 44(2): 276–295. https://doi.org/10.1111/j.1745-6606.2010.01169.x

Reza Jalilvand, M., Shahin, A., & Nasrolahi Vosta, L. (2014). Examining the relationship between branding and customers’ attitudes toward banking services. International Journal of Islamic and Middle Eastern Finance and Management, 7(2): 214–227. https://doi:10.1108/imefm-05-2011-0018.

Schiffman, G. and Kanuk, L. (2000) Consumer Behavior. Prentice Hall, Inc., Englewood Cliff.

Schweidel, D.A., Fader, P.S., Bradlow, E.T. (2008). Understanding service retention within and across cohorts using limited information. Journal of Marketing, 72(1): 82–94.

Setiawati, R., Nidar, S. R., Anwar, M., Masyita, D. (2018). Islamic Financial Literacy: Construct Rocess and Validity. Academy of Strategic Management Journal, 17(4).

Sun, S., Goh, T., Fam, K.S. and Xue, Y. (2012). The influence of religion on Islamic mobile phone banking services adoption. Journal of Islamic Marketing, 3(1): 81-98.

Wahyudi, S., Nofendi, D., Robiyanto, Hergusondo. (2018). Factors affecting return on deposit (ROD) of sharia banks in Indonesia. Business: Theory and Practice, 19: 166-176. https://doi.org/10.3846/btp.2018.17

Widyastuti, U., Suhud, U., & Sumiati, A. (2016). The Impact of Financial Literacy on Student Teachers’ Saving Intention and Saving Behaviour. Mediterranean Journal of Social Sciences, 7(6).

Xin-xin Zhang, Ming-gang Yang, and Xin-ying Wu. (2019). Research on Product Color Design Under the Cognition of Brand Image. W. Karwowski and T. Ahram (Eds.): IHSI 2019, AISC 903: 130–136.

Zait, A., & Bertea, P. E. (2015). Financial literacy – Conceptual definition and proposed approach for a measurement instrument. The Journal of Accounting and Management, 4(3): 37-42.




DOI: http://dx.doi.org/10.21043/iqtishadia.v13i1.6489

Copyright (c) 2020 IQTISHADIA

Iqtishadia Journal Indexed by :

http://journal.stainkudus.ac.id/indexing/crossref.jpghttp://journal.stainkudus.ac.id/indexing/moraref.jpghttp://journal.stainkudus.ac.id/indexing/ipi.jpghttp://journal.stainkudus.ac.id/indexing/academiaedu.jpghttp://journal.stainkudus.ac.id/indexing/googlescholar.jpghttp://journal.stainkudus.ac.id/indexing/sinta.jpghttp://journal.stainkudus.ac.id/indexing/isjd.jpg 

Creative Commons License
Iqtishadia : Jurnal Kajian Ekonomi dan Bisnis Islam is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

View My Stats