Bank Islam Brunei Darussalam's marketing on mastercard products

Abstract

The purpose of this study is to examine the marketing techniques used by BIBD on its MasterCard products and to see the effect of these marketing techniques on the users of these products. This study is also analyzing the advantages of using these Shari’ah-compliant credit cards by looking at their features as advertised by the bank and whether customers realizes these advantages or not. It also provides some useful suggestions for the bank to reconsider in order to improve the marketing techniques. Therefore, for the purpose of this study, the methodology that is being used is based on collected leaflets on BIBD MasterCard and an interview with a staff from BIBD’s Marketing Department in order to understand how the products are being promoted and this study has also collected 60 samples from users of these products in order to analyse their awareness of having the MasterCard products. One of the most important findings of this study is that even though the most important feature of these credit cards is their compliance to the Shari’ah, it seems like the marketing of the products do not really focus on the term “Shari’ah-compliant” This has results in mix views from the respondents on how they think these cards are since some of them do not really aware of the importance of the term.