ANALYSIS PROPOSED STRATEGIC MARKETING INITIATIVES TO ATTRACT GEN Z CUSTOMERS TO PT BANK PERTAMA MASYARAKAT
Main Article Content
Kevin Omar Muhammad
Throughout 2023, PT Bank Negara Indonesia (BNI) achieved a net profit of IDR 209 trillion, marking a 142% increase from the previous year. Despite this notable growth, BNI's profitability remains significantly lower than its competitors, including BCA, BRI, and Bank Mandiri, which achieved profits of IDR 486 trillion, IDR 604 trillion, and IDR 550.6 trillion, respectively. Additionally, BNI’s market capitalization lags behind, at only IDR 165 trillion compared to BCA’s IDR 1,031 trillion. A preliminary study revealed that BNI struggles to attract Gen Z users, primarily due to the perceived complexity and limited functionality of its Mobile Banking services. These challenges underline the need for strategic innovations to strengthen BNI’s competitive position. This study adopts a mixed-methods approach, combining qualitative and quantitative data collection to provide a comprehensive analysis. Structured interviews were conducted with internal stakeholders at BNI to identify internal challenges and opportunities. Simultaneously, survey questionnaires targeting 150 non-customers of BNI were used to gather external insights. The collected data underwent rigorous reliability and validity tests and were analyzed using SWOT and TOWS frameworks to formulate actionable strategies. Key frameworks such as PESTEL, Porter’s Five Forces, and VRIO were also integrated to enhance the analysis. The findings highlight that BNI’s strengths lie in its robust digital infrastructure, extensive physical and digital reach, and strong brand reputation. However, weaknesses include limited differentiation in digital features, high investment costs, and a smaller user base. Opportunities in digital financial services, sustainable finance, and FinTech collaborations can be leveraged to address these weaknesses. Threats such as intense competition and rising customer expectations necessitate operational efficiency and innovation. Based on these insights, targeted strategies were proposed to enhance BNI’s Mobile Banking platform, expand market reach, and optimize customer engagement, positioning BNI as a competitive player in the Indonesian banking sector.
Andaleeb, S. S. (2016). Market segmentation, targeting, and positioning. Strategic Marketing Management in Asia, 179–207. https://doi.org/10.1108/978-1-78635-746-520161006
David, F. R., David, F. R., & David, M. E. (2023). Strategic management: A competitive advantage approach (18th ed.). Pearson.
Gamble, J. E., Thompson, A. A., & Peteraf, M. A. (2021). Essentials of strategic management: The quest for competitive advantage (7th ed.). McGraw-Hill Education.
Hanaysha, J. R., Al Shaikh, M. E., & Alzoubi, H. M. (2021). The role of marketing mix elements in enhancing customer satisfaction and loyalty: A study in the retail sector. Journal of Marketing Research, 58(4), 564–578. https://doi.org/10.1177/0022243721991492
Hirmansah. (2024). Resource-based view and sustainable competitive advantage: A focus on internal resources. Journal of Business Strategy Research, 32(1), 12–25. https://doi.org/10.1108/JBSR-2024-0010
Homburg, C., Jozić, D., & Kuehnl, C. (2017). Customer experience management: Toward implementing an evolving marketing concept. Journal of the Academy of Marketing Science, 45(3), 377–401. https://doi.org/10.1007/s11747-016-0509-2
Istikomah, I., Saputra, G. W., & Yusuf, M. (2022). Marketing mix strategy and financial capabilities in improving Sharia stock investment. Journal of Applied Management and Business Administration, 1(1), 21-27.
Khalayleh, M., & Al-Hawary, S. (2022). The impact of the digital content of the marketing mix on marketing performance: An experimental study at five-star hotels in Jordan. International Journal of Data and Network Science, 6(4), 1023-1032.
Kotler, P., & Keller, K. L. (2018). Marketing management (15th ed.). Pearson.
Kwok, L., Tang, Y., & Yu, B. (2020). How digital platforms enhance customer satisfaction in the sharing economy: Evidence from Airbnb. Tourism Management, 81, 104171. https://doi.org/10.1016/j.tourman.2020.104171
Matovic, D. (2020). PESTEL analysis as a tool for business environment analysis: A case of small enterprises. Business Horizons Journal, 63(5), 627–640. https://doi.org/10.1016/j.bushor.2020.05.012
Riaz, M. (2011). Marketing mix and customer satisfaction: A meta-analysis. Journal of Business Research, 45(3), 172-182.
Rosyida, S., Kholil, M., & Mukti, A. (2020). Strategic differentiation through positioning: A study of local brands. Journal of Business Perspectives, 12(3), 54–65.
Wichmann, J. R., Uppal, V., Sharma, A., & Dekimpe, M. G. (2022). A global perspective on the marketing mix across time and space. International Journal of Research in Marketing, 39(2), 502–521. https://doi.org/10.1016/j.ijresmar.2022.05.002
Yusuf, M., & Matiin, N. (2022). Analysis of the effect of the marketing mix on purchasing decisions.
