The Importance of Promotion Mix in Banking Sector

Oct 13, 2025 by magicalceylontours.com 112 views

Analysis of the Effect of the Promotion Mix on the Shar-E Product Deposit Fund of Bank Muamalat Indonesia Customer Medan Branch

Introduction

In the current era of the global crisis, many banking sectors have decreased in raising funds from the community. One that felt the impact was Bank Muamalat Indonesia Medan Branch. In an effort to increase the amount of savings from Shar-E innovative products, this bank needs to implement an effective promotion strategy. This study aims to analyze the extent of the influence of the promotion mix on Shar-E product deposits and understand the effect of Umrah prizes and product exhibitions on sales promotional policies carried out by the bank.

The Importance of Promotion Mix in Banking Sector

The promotion mix is a combination of various promotional tools used to achieve marketing goals. In the context of this research, the promotion mix consists of several important elements, namely advertising, sales promotion, individual sales, and publicity. Each of these elements has different roles and contributions in attracting customers to invest in Shar-E products.

Advertising: Advertising functions as an introduction to the public about the products and services offered. The effectiveness of advertising can increase brand awareness and provide a better understanding of the benefits of Shar-E products.
Sales Promotion: This promotion aims to encourage customers to make faster transactions, usually through incentives such as discounts, prizes, or lottery programs. The results showed that sales promotion is the most dominant variable that influences customer decisions to invest in Shar-E products.
Individual Sales: Direct interaction between salespeople and customers provides the opportunity to explain the excellence of the product in detail. This personal approach is often able to convince customers to choose the products offered.
Publicity: This activity increases the visibility of the product through the media without direct costs. A good publication can increase the reputation and credibility of Bank Muamalat, thus attracting more customers.

The Effect of Prizes and Product Exhibitions

In addition to the promotional mix, the two additional strategies evaluated in this study are Umrah prizes and product exhibitions. The Umrah prize lottery program provides very interesting incentives for Muslim communities to increase their savings. By offering high-value prizes, this bank can attract the attention of the public and encourage them to open accounts or increase their funds on Shar-E products.

Meanwhile, product exhibitions allow banks to present product advantages directly to prospective customers. This is also a platform for customers to ask directly and obtain the information they need before making a decision.

Research Methodology

In this study, data was obtained through interview methods, questionnaires, and documentation studies. The research population is a customer of Shar-E products at Bank Muamalat. The nature of this research is quantitative descriptive, where the measurement of variables is carried out using a Likert scale. Hypothesis testing is carried out by multiple linear regression analysis using statistical aids such as SPSS.

Results and Discussion

The test results show that the overall promotion mix has a significant influence on Shar-E innovative product savings. Partial test revealed that advertising and sales promotion each contributed significantly to customer decisions. The most dominant influence comes from sales promotion.

On the other hand, the Umrah prizes and product exhibitions are also proven to have a positive effect on sales promotion policies. This finding shows that the integration of appropriate promotional strategies and interesting incentives can increase the attractiveness of Islamic banking products in the community.

Conclusion

Overall, this research confirms the importance of planned and integrated promotional mix in increasing Shar-E innovative product deposits at Bank Muamalat Indonesia Medan Branch. Implementation of promotional strategies involving advertising, sales promotions, and incentives such as Umrah prizes can have a significant impact on customer decisions in choosing products. In the future, Bank Muamalat must continue to evaluate and adapt their marketing strategies to remain competitive and meet the needs of customers in the midst of existing challenges.

Recommendations

Based on the findings of this study, the following recommendations are made:

Bank Muamalat should continue to implement a planned and integrated promotional mix to increase Shar-E innovative product deposits.
The bank should focus on sales promotion as the most dominant variable that influences customer decisions.
Umrah prizes and product exhibitions should be continued as additional strategies to increase the attractiveness of Islamic banking products.
The bank should evaluate and adapt their marketing strategies regularly to remain competitive and meet the needs of customers.

Limitations of the Study

This study has several limitations that should be noted:

The study only focuses on the promotion mix and its effect on Shar-E innovative product deposits.
The study only uses data from Bank Muamalat Indonesia Medan Branch.
The study does not consider other factors that may influence customer decisions, such as product features and pricing.

Future Research Directions

This study provides several directions for future research:

Investigating the effect of other promotional tools, such as social media and email marketing, on Shar-E innovative product deposits.
Examining the impact of product features and pricing on customer decisions.
Conducting a study on the effect of promotional mix on other types of banking products.

By understanding the effect of the promotion mix on Shar-E innovative product deposits, Bank Muamalat can develop effective marketing strategies to increase customer deposits and remain competitive in the banking industry.
Q&A: Analysis of the Effect of the Promotion Mix on the Shar-E Product Deposit Fund of Bank Muamalat Indonesia Customer Medan Branch

Q: What is the main objective of this study?

A: The main objective of this study is to analyze the extent of the influence of the promotion mix on Shar-E product deposits and understand the effect of Umrah prizes and product exhibitions on sales promotional policies carried out by Bank Muamalat Indonesia Medan Branch.

Q: What is the promotion mix, and how does it affect customer decisions?

A: The promotion mix is a combination of various promotional tools used to achieve marketing goals. In the context of this research, the promotion mix consists of several important elements, namely advertising, sales promotion, individual sales, and publicity. Each of these elements has different roles and contributions in attracting customers to invest in Shar-E products.

Advertising: Advertising functions as an introduction to the public about the products and services offered. The effectiveness of advertising can increase brand awareness and provide a better understanding of the benefits of Shar-E products.
Sales Promotion: This promotion aims to encourage customers to make faster transactions, usually through incentives such as discounts, prizes, or lottery programs. The results showed that sales promotion is the most dominant variable that influences customer decisions to invest in Shar-E products.
Individual Sales: Direct interaction between salespeople and customers provides the opportunity to explain the excellence of the product in detail. This personal approach is often able to convince customers to choose the products offered.
Publicity: This activity increases the visibility of the product through the media without direct costs. A good publication can increase the reputation and credibility of Bank Muamalat, thus attracting more customers.

Q: What are Umrah prizes and product exhibitions, and how do they affect sales promotion policies?

A: Umrah prizes and product exhibitions are two additional strategies evaluated in this study. The Umrah prize lottery program provides very interesting incentives for Muslim communities to increase their savings. By offering high-value prizes, this bank can attract the attention of the public and encourage them to open accounts or increase their funds on Shar-E products.

Q: What research methodology was used in this study?

A: In this study, data was obtained through interview methods, questionnaires, and documentation studies. The research population is a customer of Shar-E products at Bank Muamalat. The nature of this research is quantitative descriptive, where the measurement of variables is carried out using a Likert scale. Hypothesis testing is carried out by multiple linear regression analysis using statistical aids such as SPSS.

Q: What are the results of this study?

A: The test results show that the overall promotion mix has a significant influence on Shar-E innovative product savings. Partial test revealed that advertising and sales promotion each contributed significantly to customer decisions. The most dominant influence comes from sales promotion.

Q: What are the implications of this study for Bank Muamalat?

A: Overall, this research confirms the importance of planned and integrated promotional mix in increasing Shar-E innovative product deposits at Bank Muamalat Indonesia Medan Branch. Implementation of promotional strategies involving advertising, sales promotions, and incentives such as Umrah prizes can have a significant impact on customer decisions in choosing products. In the future, Bank Muamalat must continue to evaluate and adapt their marketing strategies to remain competitive and meet the needs of customers in the midst of existing challenges.

Q: What are the limitations of this study?

A: This study has several limitations that should be noted:

The study only focuses on the promotion mix and its effect on Shar-E innovative product deposits.
The study only uses data from Bank Muamalat Indonesia Medan Branch.
The study does not consider other factors that may influence customer decisions, such as product features and pricing.

Q: What are the future research directions based on this study?

A: This study provides several directions for future research:

Investigating the effect of other promotional tools, such as social media and email marketing, on Shar-E innovative product deposits.
Examining the impact of product features and pricing on customer decisions.
Conducting a study on the effect of promotional mix on other types of banking products.