Word of Mouth as A Marketing Strategy For Murabahah Financing at BMA Al Hikmah Blora
DOI:
10.47353/ecbis.v4i6.617Published:
2026-10-04Downloads
Abstract
This study examined how word of mouth (WOM) operates as a marketing strategy for murabahah financing at BMA Al Hikmah Blora. A qualitative single-case study was conducted in June 2026. Data were collected from 12 purposively selected informants through semi-structured interviews, participant observation, and document review. The informants comprised a manager, marketing staff, members who had recommended BMA, members who had been referred to BMA, and a community figure. The data were analyzed thematically using a hybrid deductive-inductive approach, with Sernovitz's 5Ts as the initial analytical framework. The findings showed that WOM operated as a staged relational process: financing needs were discussed within local social networks; trusted actors provided recommendations; initial trust and product understanding were formed; information was socially verified; and prospective members were connected to BMA for institutional clarification before making a financing decision. Face-to-face interaction was the primary channel, while WhatsApp mainly facilitated contact with staff. WOM combined organic and institution-facilitated practices, whereas referral tracking remained informal and operational rather than formally systematized. The findings suggest that, within the context of BMA Al Hikmah Blora, WOM operates as a staged relational marketing mechanism rather than merely as an explanatory variable or a component of the promotional mix.
Keywords:
interpersonal communication Islamic microfinance marketing strategy murabahah financing word of mouthReferences
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