Social Media Marketing and Word of Mouth on Product Purchase Intentions at Bibit FinTech Startup with the Mediation of Brand Awareness
Journal of Economics, Management and Trade,
Page 1-15
DOI:
10.9734/jemt/2023/v29i21075
Abstract
Aims: This study aims to find out whether marketing through social media and word of mouth can significantly influence brand awareness and purchase intention of mutual fund products at Bibit startup, because branding plays an important role in services since the stronger the brand, the higher the customer's trust in the invisible purchase.
Design/Methodology: This study uses a survey research design method and a quantitative approach which used to ascertain causal relationships between variables, a causal research design is used in this study. The sampling method was carried out online through an online questionnaire which is distributed to respondents who are considered according to predetermined criteria. Bibit startup or PT. Bibit Tumbuh Bersama products were used in the research. Collection of respondents was place during October and November 2022. The source of data in this study is 200 respondents who are Instagram social media users and followers of Bibit’s Instagram account. The research was conducted to obtain significant conclusions using the data analysis model which was processed using the SEM AMOS 26 method.
Results: Based on the results of the Sobel test used in this study to examine the relationship between variables mediated by brand awareness, it has shown a positive and significant value. One of the variables that influence consumers’ decision to make a purchase is awareness of the brand of a product.
Conclusion: Concerns concerning the expansion of social media marketing must be monitored in order to strengthen a brand's visibility. Consumers who are aware of a brand's existence are more likely to make recurrent purchases as well as first-time purchases.
Keywords:
- Social media marketing
- word of mouth
- brand awareness
- purchase intention
- mediation
- startup
- Fintech
How to Cite
Tania, S., Listiana, E., Syahbandi, ., Ramadania, ., & Afifah, N. (2023). Social Media Marketing and Word of Mouth on Product Purchase Intentions at Bibit FinTech Startup with the Mediation of Brand Awareness. Journal of Economics, Management and Trade, 29(2), 1-15. https://doi.org/10.9734/jemt/2023/v29i21075
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Chattopadhyay, Amitava, Laborie JL. Managing Brand Experience: The Market Contact Audit. Journal of Advertising Research. 2005;45 (1),9-16.
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Emini A, Zeqiri J. The impact of social media marketing on purchase intention in a transition economy: The mediating role of brand awareness and brand engagement. ENTRENOVA - ENTerprise REsearch InNOVAtion. 2021;7(1).
DOI: https://doi.org/10.54820/FDOR9238
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Gunelius S. 30-Minute Social Media Marketing. United States: McGraw-Hill Companies; 2011.
Vizano NA, Khamaludin K, Fahlevi M. The effect of halal awareness on purchase intention of halal food: a case study in Indonesia. The Journal of Asian Finance, Economics and Business. 2021;8(4):441–453.
DOI:https://doi.org/10.13106/JAFEB.2021.VOL8.NO4.0441
O’Cass, Carlson J. An e-retailing assessment of perceived website-service innovativeness: Implications for website quality evaluations, trust, loyalty and word of mouth. Australasian Marketing Journal. 2012;20(1):28–36.
DOI:https://doi.org/10.1016/j.ausmj.2011.10.012
Kotler, Keller. Manajemen Pemasaran. Jilid I, Edisi ke 13. Jakarta: Penerbit Erlangga. 2009. Indonesia.
Alghizzawi M. A survey of the role of social media platforms in viral marketing: The influence of eWOM. International Journal of Information Technology and Language Studies (IJITLS); 2019.
Available:https://www.researchgate.net/publication/335110016
Ali K. Pengaruh promosi melalui media sosial dan word of mouth terhadap keputusan konsumen memilih wedding organizer (Studi Pada Konsumen Art Project Lampung di Kecamatan Trimurjo Lampung Tengah). Jurnal Manajemen Dan Bisnis (JMB). 2020; 1(2):11–24.
Sürücü Ö, Öztürk Y, Okumus F, Bilgihan A. Brand awareness, image, physical quality and employee behavior as building blocks of customer-based brand equity: Consequences in the hotel context. Journal of Hospitality and Tourism Management. 2019;40:114–124.
Wijaya AYO, Sulistiyani, Pudjowati J,Kartikawati TS, Kurniasih N, Purwanto A. The role of social media marketing, entertainment, customization, trendiness, interaction and word-of-mouth on purchase intention: An empirical study from Indonesian smartphone consum- ers. International Journal of Data and Network Science. 2021;5:231–238.
Durianto D, Sugiarto, Sitinjak T. Strategi Menaklukkan Pasar Melalui Riset Ekuitas dan Perilaku Merek. Jakarta: PT. Gramedia Pustaka Utama. 2004. Indonesia.
Manthiou A, Tang LR & Bosselman R. Reason and reaction: the dual route of the decision-making process on Facebook fan pages. Electronic Markets. 2014; 24(4):297–308.
Liu C, Arnet KP. Exploring the factors associated with web site success in the context of electronic commerce’. Information & Management. 2000; 38(1):23–33.
Murdana YT, Suryawardani B. Pengaruh sosial media marketing melalui instagram terhadap brand awareness Pada Pt. Dealpro Indonesia Bandung 2019. Manajemen Pemasaran. 2019;5(2), ISSN: 2442-5826. Indonesia.
Wakefield LT, Bennett G. Sports fan experience: Electronic word-of-mouth in ephemeral social media. Sport Management Review. 2018;21(2):147–159.
DOI:https://doi.org/10.1016/j.smr.2017.06.003
Park SJ, Lee YR, Borle S. The shape of Word-of-Mouth response function. Technological Forecasting and Social Change; 2018.
DOI:https://doi.org/10.1016/j.techfore.2017.10.006
Mahaputra MR, Saputra F. Relationship word of mouth, advertising and product quality to brand awareness. Dinasti International Journal of Digital Business Management; 2021.
DOI: https://doi.org/10.31933/dijdbm.v2i26.
Widayati CC, Ali H, Permana D, Nugroho A. The role of destination image on visiting decisions through word of mouth in urban tourism in Yogyakarta. In International Journal of Innovation, Creativity and Change. 2020;2.
Available:www.ijicc.net
Available:www.ijicc.net
Saputra GW, Ardani IGAKS. Pengaruh Digital Marketing, Word of Mouth, Dan Kualitas Pelayanan Terhadap Keputusan Pembelian. E-Jurnal Manajemen Universitas Udayana. 2020;9(7):2596.
DOI:https://doi.org/10.24843/ejmunud.2020.v09.i07.p07. Indonesia
Hutter K, Hautz J, Dennhardt S, Füller J. The impact of user interactions in social media on brand awareness and purchase intention: The case of MINI on Facebook. Journal of Product and Brand Management. 2013;22(5):342–351.
DOI:https://doi.org/10.1108/JPBM-05-2013-0299
Kim AJ, Ko E. Impacts of luxury fashion brand’s social media marketing on customer relationship and purchase intention. Journal of Global Fashion Marketing. 2010;1(3):164-171.
Berger J, Iyengar R. Communication channels and word of mouth: how the medium shapes the message. Journal of Consumer Research, Inc. 2013;40(9):567-579.
Patel B. Word-Of-Mouth Marketing: A happy customer is the greatest endorsement any business could ask for. Online binita patel photography; 2015.
Feng J, Papatla P. Advertising: Stimulant or suppressant of online word of mouth? Journal of Interactive Marketing. 2011;25(2), 75–84.
DOI:https://doi.org/10.1016/j.intmar.2010.11.002
Macdonald KE, Sharp MB. Brand awareness effects on consumer decision making for a common, repeat purchase product: A replication. Journal of Business Research. 2000;48:5-15.
Iwan, Nainggolan K. Pengaruh Celebrity Endorser, Brand Awareness Dan Harga Produk Terhadap Minat Beli Mie Suksess (Studi Empiris Pada Penduduk Kecamatan Pinang-Kota Tangerang); 2017. Indonesia.
Razak M, Hidayat M, Rahman MH. Pengaruh Video Advertising Dan Sosial Media Konten Melalui Brand Awareness Terhadap Minat Beli Pada Aplikasi Gofood Di Kota Makassar. 2021;18(1).April 2021. Hal. 84 – 97.
e-ISSN : 2621-4377 & p-ISSN : 1829-8524.
Available:https://e-jurnal.stienobel-indonesia.ac.id/index.php/akmen. Indonesia.
Baron RM, Kenny DA. The moderator- mediator variable distinction in social psychological research: conceptual, strategic and statistical considerations. Journal of Personality and Social Psychology. 1986;51(6):1173- 1182.
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