Transforming Social Capital into Economic Capital: An Analysis of PT EAHM's Multi-Level Marketing Strategy for Cahaya Biscuits from the Perspective of Progressive Islamic Marketing

Abstract

This research analyzes the marketing phenomenon of "Biskuit Cahaya,"
initiated by PT Ekonomi Aisyiyah Hasanah Makmur (PT EAHM) under the
Central Java 'Aisyiyah Regional Leadership, which presents a unique
business model integrating modern corporate entities with grassroots
socio-religious structures. Utilizing a multidimensional theoretical
framework that synthesizes Social Capital Theory (bonding, bridging, and
linking), Relationship Marketing, and Social Entrepreneurship within the
perspective of Progressive Islamic Marketing, this study explores how
social assets are converted into economic capital through a tiered
distribution network. The findings reveal that while the "bonding" social
capital among 'Aisyiyah members creates a highly loyal captive market
and reduces conventional marketing costs, the organization faces critical
challenges regarding the overlap between volunteerism and
professionalism, as well as logistical inefficiencies. The research suggests
that the integration of digital transformation through the "Eksys" platform
and structured entrepreneurial training for the BUEKA units are essential
to transition from seasonal internal sales to a sustainable national brand.
Ultimately, the "Biskuit Cahaya" model proves that utilizing ideological
trust and organizational density can drive inclusive economic growth and
organizational independence, serving as a strategic benchmark for faithbased
economic
movements
in Indonesia.