The Comparison Of Islamic and Conventional Banking Customers in Indonesia
Understanding customer’ lifestyle is important for banks because it will guide in determining marketing policy, such as decision of products or services, pricing, service delivery and promotion. From the customer’ lifestyle, banks will know what kind of customers’ attitudes, interests and opinions, so they also will understand both what the costumer’ needs and what services needed by them. This study aims to determine the grouping of Islamic banking customers, based on their lifestyle. The study used the population of banking customer in Indonesia, in which the sample selection is conducted by a judgment sampling. The number of respondents was 186 customers of Islamic banks and as a comparison there were 244 customers of conventional bank. Statistical methods used in this study were exploratory factor analysis and cluster analysis. The finding of the study shows there are twelve factor underlining the customers’ lifestyle, i.e. factor of fashion conscious, internet usage, sports spectator, financial and technology optimism, price sensitivity, independent, compulsive housekeeper, new brand tryer community activities, opinion leader, credit usage, and homebody. Also, the other finding is there are two market segments for Islamic banking, namely fashionable-independent and innovative-social segment. Furthermore, there are two segments for conventional banking, namely persuasive-optimistic and sensitive-independent. Marketing implications for the segments will also be discussed in the paper.
2. Literature Review
3. Research Method
4. Data Analysis
5. Discussions and Managerial Implications
6. Concussions, Limitations and Research Implications