Application of digital marketing in the capital market based on the theories of consumer behavior and technology adoption

Economic Annals-XXI: Volume 207, Issue (1-2), Pages: 29-33

Citation information:
Noor, Z. Z. (2024). Application of digital marketing in the capital market based on the theories of consumer behavior and technology adoption. Economic Annals-XXI, 207(1-2), 29-33. doi: https://doi.org/10.21003/ea.V207-04

Zulki Zulkifli Noor
PhD (Management),
Economics and Business Faculty,
Universitas Jayabaya
Jl. Pulomas Selatan Kav. No.23 4, RT.4/RW.9, Kayu Putih, Kec. Pulo Gadung, Kota Jakarta Timur, Daerah Khusus Ibukota Jakarta, 13210, Indonesia
zulki.zulkifli.noor@gmail.com
ORCID ID: https://orcid.org/0000-0002-3621-1972

Application of digital marketing in the capital market based on the theories of consumer behavior and technology adoption

Abstract. Digitalization is a prominent factor in the transformation of traditional business structures. The purpose of the current research is to evaluate the impact of digital marketing and market sensing capabilities on company performance in Indonesia. In this research, a conceptual framework based on the main variables of digital marketing was provided to explain the implementation of digital marketing in the capital market for stock brokerage companies in Indonesia and the factors affecting its skepticism. In this regard, a survey field study was conducted via questionnaires to a sample of 377 CEOs and vice presidents of brokerage companies. In order to determine the questionnaire reliability, Cronbach’s alpha coefficient was measures and the values were more than 0.7, which indicates that the questionnaire has good reliability. Partial least squares approach and SmartPLS software were employed for data analysis. Based on the obtained results, consumer trust and technology adaptation have a significant effect on the attitude towards digital marketing. The results of fitting indicated that the model proposed in this research has good validity and fit.

Keywords: Digital Marketing; Technology Adoption; Consumer; Stock Value; Brokerage Companies; Consumer Behavior

JEL Classifications: Е24; Е41; Е64; I18; J28; J31

Acknowledgements and Funding: The authors received no direct funding.

Contribution: The authors contributed equally to this work.

Data Availability Statement: The dataset is available from the author upon request.

DOI: https://doi.org/10.21003/ea.V207-04

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Received 22.09.2023
Received in revised form 19.10.2023
Accepted 24.10.2023
Available online 22.02.2024