SAVINGS BASED INTEREST-FREE FINANCING SYSTEM THROUGH A MARKETING PERSPECTIVE

Abstract

Expectations and sensitivities of consumers have caused a new approach in marketing financial support, which has become more popular in the recent years, has arisen. This approach which is financially defined as "the cooperation system" or "the savings based interest-free financial system", can be considered in marketing respect as "participatory marketing approach or system". This marketing approach is implemented by enterprises completely based on service marketing approach. The purpose of this study is to present what this system which can be called in marketing respect as participatory marketing and financially as cooperation or savings based interest-free financial system, is through a marketing perspective. In addition to this, the strengths and weaknesses of the participatory marketing system and the way of operation are tried to be explained. As a result of the study, execution of the system through an interest-free basis, not exposing consumers any additional burden and determining installments in accordance with the solvency of consumers are considered as the grounds for the success of this marketing approach. The issues considered as the factors restricting operation of the system are that the system is completely based on trust, the establishments implementing the system are private firms and there is not any state guarantee.