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All Journal Jurnal Manajemen MIMBAR : Jurnal Sosial dan Pembangunan
Muh Fajrul
Akademi Entrepreneurship Terang Bangsa
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Social Sciences Other

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Studi Kualitatif Dampak Kebijakan Moneter terhadap Perilaku Konsumen di Kota Semarang Erlitawati Kaharuddin; Muh Fajrul; Alexader Nova Vernando; Herlin Hidayat
MAMEN: Jurnal Manajemen Vol. 5 No. 1 (2026): Januari 2026
Publisher : Yayasan Literasi Sains Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55123/mamen.v5i1.7095

Abstract

This study primarily aims to analyze in depth how monetary policy, specifically the increase in Bank Indonesia's benchmark interest rate, affects household consumption behavior and financial adaptation strategies in Semarang City. The research is motivated by the aggressive monetary tightening policy (150 bps interest rate hike during the 2022–2024 period) which impacted purchasing power in a medium-sized city characterized by high household consumption and diverse financial literacy. Employing a qualitative phenomenological design, data were collected through in-depth interviews with 15 informants from various socio-economic backgrounds, complemented by limited observation and secondary documentation. Thematic analysis, assisted by NVivo 12 software, was conducted to identify patterns of perception, consumption adjustment, and financial responses. The main findings identify four themes: (1) low policy understanding and reactive perceptions among low-income individuals, (2) a significant decline in non-essential and credit-financed durable goods consumption, (3) adaptation strategies such as budget tightening, diversification of digital side income, and a shift in preference toward local/discounted products. A crucial finding highlights behavioral asymmetry based on income: high-income groups respond rationally by increasing deposits and adjusting investments, while low-income groups rely on short-term consumer financing like paylater and make essential expenditure trade-offs. Financial literacy is demonstrated to be a moderating factor, serving as a "rational filter" against monetary pressure. This study provides a comprehensive micro-behavioral perspective, concluding that the effectiveness of monetary policy transmission is highly dependent on financial literacy and has a significant asymmetric impact on vulnerable groups, thus necessitating more inclusive policy communication.
Green Marketing Strategies in Circular Economy Startups in Indonesia: A Grounded Theory Approach Muh Fajrul; Erlitawati Kaharudin; Herlin Hidayat; Hesti Fajarsari; Alexander Nova Vernando
MIMBAR : Jurnal Sosial dan Pembangunan Volume 42, No. 1, (Juni 2026) [Accredited Sinta 3, No 79/E/KPT/2023]
Publisher : UPT Publikasi Ilmiah (Universitas Islam Bandung)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29313/mimbar.v42i1.10473

Abstract

Abstract. Indonesia's transition to a circular economy (CE) faces persistent barriers, including low public awareness and consumer distrust in green claims, posing distinct marketing challenges for resource-constrained CE startups. This study develops a context-specific green marketing strategy model for CE startups in Indonesia. A grounded theory approach was employed, with data collected through in-depth interviews with 15 participants (startup founders, marketing team members, and consumers) along with document analysis and participatory observation of five CE startups in Java. Open, axial, and selective coding were conducted using NVivo 14. Four interdependent strategic pillars were identified: radical transparency in production and environmental impact disclosure, continuous consumer education on CE principles, strategic ecosystem collaboration with NGOs and green influencers, and authentic founder-centered storytelling. These pillars constitute the Circular Green Marketing Framework, integrating circular values into branding and marketing communication. Theoretically, this study enriches green marketing literature from a Global South perspective, advancing signaling theory and legitimacy theory in resource-constrained startup contexts. Practically, the framework offers a replicable roadmap for CE startups to build brand differentiation, counter greenwashing perceptions, and cultivate consumer loyalty without substantial marketing budgets.
Co-Authors Alexader Nova Vernando Alexander Nova Vernando Erlitawati Kaharuddin Erlitawati Kaharudin Herlin Hidayat Hesti Fajarsari