THE INFLUENCE OF PHILANTHROPIC MARKETING AND SOCIAL MEDIA MARKETING ON MILLENNIALS’ PURCHASE INTENTION OF SHARIAH-COMPLIANT STOCKS
The increase in religious conscious investors has increased the demand for Islamic financial products and services in recent years. Online financial communication is now moving towards the phase of Shariah-compliant practice in order to maintain its current relevance within the capital markets. This paper is an attempt to examine the influence of philanthropic marketing, firm generated content, user generated content, and brand attitude on the behaviour of millennial potential investors within the Islamic marketing communication field. The convenience sampling procedure was used to collect data from millennials in Malaysia. This study suggests that brand attitude has a large effect on purchase intention and brand attitude only mediates the relationship between firm generated content and purchase intention of Shariah-compliant online stocks. The findings of this study revealed some important implication for researchers, investor relations and marketing managers of public listed companies. The findings suggest that companies around the world are expected to be proactive in disseminating online financial communication as this can partly shape the evolution of Shariah-compliant capital markets for themselves and their industries.