The implementation of marketing strategy in Islamic banking product and services: study on Bank Islam Malaysia / Fatin Izzati Farhanah Md Raeis

The Implementation of Marketing Strategy in Islamic Banking Product and Services: Study on Bank Islam Malaysia Marketing is the process or activities that focus on delivering value and benefits to customers; it is not just selling goods, services and/or ideas. Marketing strategy involves the activities of selecting and describing the target markets; and developing and maintaining a marketing mix (often referred to four Ps) that will produce satisfying from the customer. The objective of the project paper is to determine the strategy of marketing that being used by Islamic bank. The paper was based on a descriptive perspective and made use of qualitative and quantitative methods. Data was collected through the use of questionnaires/survey with some individuals. The survey was confined only at Bank Islam Kuala Lumpur, Medan Mara due to cost and time limitations. Some respondents were the marketing manager of the bank; some were marketing personnel and clients of Bank Islam. The expected findings can be, the effort to maximize the profit for the bank, it also can be the success factor of the bank from the real-world realities because of the competition in the banking world itself. Next is the quality of services provided by this bank to fulfill the customer satisfaction when they can clearly make choices according to their abilities and financial needs. The bank should continue in implementing the marketing strategy because it is able to give satisfaction to the customer. The study finds that the newest Islamic bank and Islamic banking department of conventional banks have more aggressive marketing objectives than the pioneering Islamic bank.