Investigating The Use Of Islamic Based Relationship Marketing Approach In Selected Malaysia Takaful Companies
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Date
2017-03
Authors
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Journal ISSN
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Publisher
Universiti Sains Malaysia
Abstract
The emergence of relationship marketing (RM) has commonly been
connected to the financial services industry. In Islamic financial services industry,
particularly Takaful is implementing the RM in various creative ways. Regrettably,
the issue of unethical marketing practices seems to be the main contributors to the
surrender of policy among Takaful participants in Malaysia. Therefore, this research
intends to explore the issue from the root which derives from the worldview and
epistemology embedded in RM by investigating the RM approach implemented in
Takaful companies. The differences in worldview and epistemology have lead to
different practices in reality of business. Specifically, there are three objectives to be
achieved in the research. The first objective is to identify the Islamic-based RM
(IBRM) approach to be applied in the Malaysian Takaful Companies (MTC). The
second objective is to investigate the RM approach currently implemented in
selected MTC while the third objective is to conclude the RM approach implemented
in selected MTC based on the IBRM approach identified. The method applied in the
research is qualitative research with involving two phases of collecting data such as
theoretical and empirical phases. The theoretical phase uses the document research
and feedback from a group of experts, while the empirical phase applied fieldwork.
In empirical phase, the fieldwork is conducted in two selected MTC, namely
Syarikat Takaful Malaysia Berhad and Takaful Ikhlas Berhad through in-depth
interviews and observations. The data collected is analyzed using qualitative content
analysis.
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Keywords
The use of Islamic based relationship marketing , selected Malaysia Takaful companies