Level 3: Unique Messaging: In this level of customization, you will target Muslims through targeted media channels, coupled with unique messaging that addresses their values. Examples of companies in the travel industry that provide no customization and yet are used by Muslims are: Trip Advisor, Avis car rental, Europcar. This article attempts to give some insight into this emerging discipline as well as its potential implications. Volume 1. A similar set of guiding principles relates to distribution channels, for which Islam prohibits any kind of monopolisation leading to unfair pricing. (ISB) +92-51-220-2701-5 • Plot 12, Sector G-7/1 Mauve Area, Near Zero Point Islamabad, 44000 Ramadan is the Islamic holiday that takes place during the 9 th month of the Islamic lunar calendar. Issue 2 2010. Our Inbox and Messaging services connect financial firms and investors with the largest, most established Islamic markets community in the world. The marketing mix, commonly referred to as the four Ps (product, price, place and promotion), gives a broad framework on which an organisation’s marketing strategy can be planned and reviewed. In hard core segmentation theory, segments are defined as groups of consumers who tend to act in a similar manner. For example some of the trends in travel include an increasingly growing middle class, increased digital connectively, and rise of socially responsible travel. It requires a whole new product line or business unit to be created to address unique Muslim product needs. It should also address the potential of what Spain has to offer Muslim travelers: Islamic heritage sites, Halal food, family-friendly atmosphere, etc. In typical English writing, a square bracket implies that the contained word(s) are part of the phrase. Level 5: Unique Branded Products: This is the highest level of customization. In fact, despite the prominence of Islam, there has been little literature on Islamic marketing (Temporal, 2011; Alserhan, 2010). Islamic Marketing 1. Islamic marketing is a great Ave nue for research. But recently, some advertising makes … Islamic Marketing Laith Eid, MBA Marketing Manager – Ketab Technologies 2. Promotion is another area where Islamic teachings and rulings have directed practices. View Cedomir Nestorovic’s recently published book: Islamic Marketing: Understanding the Socio-Economic, Cultural, and Politico-Legal Environment, Springer 2016 Extract: This newly published book analyzes the current Islamic marketing environment in a Muslim world which is extremely diverse in terms of economic development, customs and traditions and political and legal systems. For example a travel company in Spain needs to determine whether there is a sizable number of Muslim travelers visiting the region in which it operates. Under these basic tenets, different pricing models and practices should be carefully reviewed and revised. For tailored recommendations that correspond with your company’s unique needs, contact us to schedule a complimentary Marketing Strategy Consultation. This article contains 15+ marketing questionnaire examples and templates you can use as a guide to create professional-looking questionnaires that get you the best results. In reality, however, it is the other Islamic banking providers that are enjoying these competitive advantages over IBBL. This term fascinated me for its implicative context, which has been largely underrated in marketing knowledge and practice. Recently, in a scholarly article, I came across the term ‘religion-marketing intersection’. talha.salam@nu.edu.pk, For questions regarding subscription and timely delivery, please contact on the following numbers or visit In fact, there is a concerted effort by different circles to grasp the influence of Islam on Muslim consumer behaviour, including Oxford’s Saïd Business School, Ogilvy Noor and the Journal of Islamic Marketing. Contemporary Islamic finance is based on a number of prohibitions that are not always illegal in the countries where Islamic financial institutions are operating: However, the message is not customized to Muslims. These conditions make it impossible to sell debt in a capital market and create imaginary assets, which enable transactions of a speculative nature. 1. Examples of istisna in the Islamic finance world include: projects and residential properties financed by the Kuwait Finance House under construction as of 2012. the Barzan project, the "biggest financing operation in the energy sector carried out by Qatar Petroleum" uses Istisna and Ijara and as of 2013, had US$500M "earmarked" for it. Examples include hotel brands such as Sofyan Hotels in Indonesia or De Palma Group of hotels in Malaysia that market themselves as sharia compliant. Market positioning: The most important aspect of marketing to Muslim consumers is appealing to their values with sincerity. Level 4: Mainstream Product Extensions: This involves developing a new product within an existing brand that addresses unique Muslim requirements. This area, further popularised by the concept of Islamic banking, is much broader than Islamic marketing itself and has now developed into a parallel stream of banking operations in many parts of world. USA, #225, Building 8 WB Bai Salam. 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