The role of religious advertising and personal selling in enhancing mutual fund purchase intention and sales in Pakistan: a managerial perspective

Abstract

Purpose This paper aims to fill a gap in the literature of marketing communication by exploring the role of different nudges implemented through advertising and personal selling in enhancing purchase intention and sales of mutual funds in Pakistan. Design/methodology/approach Data collected by 20 semi-structured individual qualitative interviews in Pakistan were subjected to thematic analysis. Findings This study reveals the way managers apply different nudges in the form of Islamic beliefs and values in advertising and personal selling to enhance purchase intention and sales of mutual fund products among Muslim customers. Nudges that can be used in marketing communication may include religious cues, religious beliefs, religious values, spiritual elements, halal aspects of investment plans, religious icons and symbols, cultural music and images, appropriateness and correctness of sales messages and communicating halal aspects of mutual funds. Research limitations/implications The conclusions are based on findings from a relatively small number of respondents from one investment firm, but they offer an empirical basis for future research on the effect of advertising and personal selling on the sales and purchase intention of mutual fund products in an Islamic society. Practical implications This study offers practitioners a better understanding of the marketing communication tools likely to influence consumers’ purchase intention of mutual fund products, with positive implications in creating advertising and sales management in Pakistan. Originality/value Despite the prevalence of promoting mutual fund products, little research-based analysis has been available to academics or practitioners.

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