Articles

Digital Marketing Communication Strategies and The Implementation of Sharia Financing Values in Agribusiness Msmes: Case Study of Kebun Binar Bumi

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This study aims to analyze digital marketing communication strategies and the implementation of sharia capital values in agribusiness MSMEs through a case study of Kebun Binar Bumi. Amid rapid digitalization and the expansion of Islamic financial inclusion, agribusiness MSMEs face a dilemma between utilizing digital market opportunities and maintaining conventional distribution systems through middlemen. This study adopts Karl E. Weick’s sensemaking perspective to understand how MSME actors interpret digital transformation, market uncertainty, and post-pandemic financial risks. Furthermore, this study incorporates the Stimulus-Organism-Response (S-O-R) framework to evaluate how massive digital marketing efforts trigger consumers’ internal trust and drive behavioral responses, such as repeat orders. Using an interpretive qualitative case study approach, data were collected through in-depth interviews, participant observation, social media observation, and documentation studies. The findings reveal that: (1) Kebun Binar Bumi successfully implemented inbound digital marketing through Instagram and WhatsApp by emphasizing educational communication, storytelling, transparency, and trust-building; (2) the enterprise adopted a bootstrapping strategy as a form of sharia-oriented financial prudence due to limited literacy regarding Islamic financing contracts and concerns over unstable market conditions ; and (3) post-COVID-19 collective economic trauma strongly influenced financial behavior, causing the business to become more risk-averse toward external financing. This study identifies a significant gap between the availability of Islamic financial products and the psychological readiness of MSME actors. The study recommends that Islamic financial institutions move beyond financing-oriented approaches and develop business incubation, mentoring, and market stabilization models for MSMEs.

Behavioral Finance: The Role of Self-Efficacy and Goal-Setting of Motivation in Financial Literacy among Small Rice Farmers

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This research focused on understanding financial literacy alongside self-efficacy and goal-setting motivation behaviors within small-scale rice farmers in Daet, Camarines Norte. An integrated approach was conducted through a combination of a survey with 71 farmers, and a focus group with 10 farmers. For the quantitative component, descriptive statistics, correlation and regression analyses were used, while qualitative responses were organized through thematic analysis. The research found farmers had high motivational and selective self-efficacy in terms of income diversification and financial task prioritization. However, weak adaptability to financial shocks, high-order decision-making, and advanced task prioritization were noted. Self-efficacy, and goal-setting of motivation were found to be strong predictors of financial literacy, accounting for 79.3% of the explained variance. Financially competent farmers had proactive planning, disciplined cash control and goal-directed behaviors correlating to the competencies of financial structuring and cash control. Major self-directed activities reported were seasonal cash planning, digital financial tools, and cash management within families. The need to address behavioral aspects of finance in capacity-building programs was clearly established within the findings. Guides to policy and program design that enhances the socio-economic status and financial resilience of smallholder farmers will be improved with this focus on self-efficacy and goal-setting as primary motivators.