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Brand Identity Factors: Developing a Successful Islamic Brand

The market for Islam-compliant products is getting more and more important, due to the high impact of religious obligation on Muslim consumer behaviour. According to studies, the market for Muslim-compliant brands has increased dramatically, with a global worth of $1.5 trillion a year. However, the market for Islam-compliant brands seems to be underdeveloped in Europe when compared to the rest of the world. Surprisingly, little research is conducted in this highly attractive segment, although Islam is assumed to be the fastest growing religion, with a total of 1.6 billion followers. Furthermore, especially young Muslim consumers constantly demand brands which enable an Islamic lifestyle. When creating brands, the concept of brand identity is highly important as it provides brand uniqueness and the main idea of what a brand stands for. Furthermore, this concept is a fundament for making target-group-specific decisions in brand management. The central question within this study concerns the fact that within the global environment, Muslims especially in non-Muslim countries do not know whether a brand is compliant with Islamic standards and can thus be consumed. This study contributes to close the gap in this segment by identifying several brand identity factors which can help to create an Islam-compliant brand identity. A model is created which helps to manage brand identity in order to attract Muslim consumers. Furthermore, it allows balancing each brand identity according to the needs of a target group and, consequently, enables Muslim consumers to identify a brand as Islam-compliant.

The market for Islam-compliant products is getting more and more important, due to the high impact of religious obligation on Muslim consumer behaviour.

Islamic Branding and Marketing

Creating A Global Islamic Business

Islamic Branding and Marketing: Creating A Global Islamic Business provides a complete guide to building brands in the largest consumer market in the world. The global Muslim market is now approximately 23 percent of the world's population, and is projected to grow by about 35 percent in the next 20 years. If current trends continue, there are expected to be 2.2 billion Muslims in 2030 that will make up 26.4 percent of the world's total projected population of 8.3 billion. As companies currently compete for the markets of China and India, few have realized the global Muslim market represents potentially larger opportunities. Author Paul Temporal explains how to develop and manage brands and businesses for the fast-growing Muslim market through sophisticated strategies that will ensure sustainable value, and addresses issues such as: How is the global Muslim market structured? What opportunities are there in Islamic brand categories, including the digital world? What strategies should non-Muslim companies adopt in Muslim countries? More than 30 case studies illustrate practical applications of the topics covered, including Brunei Halal Brand, Godiva Chocolatier, Johor Corporations, Nestle, Unilever, Fulla, Muxlim Inc, and more. Whether you are in control of an established company, starting up a new one, or have responsibility for a brand within an Islamic country looking for growth, Islamic Branding and Marketing is an indispensable resource that will help build, improve and secure brand equity and value for your company.

It provides strategic and creative development, resulting in a complete
executable marketing solution designed to reach the consumers. Product Goal:
Helping companies develop specific options and the corresponding strategic
plan to ...

Islamic Marketing

Understanding the Socio-Economic, Cultural, and Politico-Legal Environment

This book analyzes the current Islamic marketing environment. Since the Muslim world is extremely diverse in terms of economic development, customs and traditions and political and legal systems, it is vital for companies and marketers to analyze the environment before attempting to address these markets. The author emphasizes that it is ineffectual to elaborate the distribution and promotion strategies if the market does not exist in terms of purchasing power or demographics, if potential consumers do not believe that products and services answer their needs and demands or if there are political and legal barriers to companies wanting to enter these markets. The book offers detailed insights into the economic, socio-cultural, and politico-legal environment in the Muslim world, which are essential for marketers to understand and form the foundations of effective marketing strategies.

This book analyzes the current Islamic marketing environment.

Islamic Finance

Principles, Performance and Prospects

This book demonstrates how the global market for Islamic financial services has shown strong growth in recent years and shown remarkable resilience during the global financial crisis. Drawing on a range of international perspectives from the Gulf Cooperation Council countries, Malaysia, Pakistan, Australia and Europe, this book explores the characteristics and performance of Islamic finance and banking and discusses future prospects. It offers a comprehensive theoretical framework for Shariah governance in Islamic financial institutions, explores Shariah-compliant equities, as well as issues in productivity, technology and efficiency. It includes a number of comparative studies on Islamic and conventional banks, Islamic and conventional unit trusts, and Islamic and conventional banks’ product mixes. The challenges and opportunities for the expansion of Islamic finance and banking into Europe are explored through the contexts of the UK, Germany and Italy.

The Journal of Services Marketing 10(4): 56–69. 5. Worcester, R.M. (1997)
Managing the image of your bank: The glue that binds. International Journal of
Bank Marketing 15: 146–152. 6. Gronroos, C. (1983) Strategic Management and
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Governance Risk Management and Financial Product Development in Islamic Financial Institutions

Master's Thesis from the year 2010 in the subject Business economics - Investment and Finance, grade: 1,7, Maastricht University (School of Business and Economics), course: -, language: English, abstract: 1.1 General Introduction to the Topic Islamic finance is on the march. The underlying logic is simple: All investments and services are consistent with the principles of Islamic law, called Shari’ah, which literally means ‘a clear path to be followed and observed’ (Hourani, 2004a). This clear path is followed only if profit does not stem from interest (riba), speculation (gharrar) or sectors that are considered sinful according to the Qur’an (haraam), namely everything that involves alcohol, tobacco, entertainment, gambling or pork, just to name a few. The high potential of Islamic finance is clear for three reasons. The first reason relates to the emergence of a new consumer type, as there is increased demand for a Shari’ah-compliant way of investing that stems from increased globalization. The middle class from emerging markets rose from one third to 56 percent between the 1990s and 2006 (The Economist, 2009). Many Muslim countries can be found in the list of emerging markets, such as Egypt, Pakistan and Indonesia. With the Muslim population of the world exceeding 1.5 billion people (about 21 percent of the world population) and due to the fact that it is the fastest growing religion, it becomes clear why the general conditions for Islamic finance are so favourable (Central Intelligence Agency, 2009). The second reason relates to the global trend for sustainable investment; the fact that Islamic finance is an ethical way of investing which does not invest in harmful businesses and instead donates purified gains to charity is becoming more and more attractive among non-Muslim investors as well (Global Finance, 2007). The Shari’ah aspect makes Islamic financial products an alternative to socially responsible investments (Khan, 2009). The last reason is a matter of trust; in the face of the financial crisis that began shattering the world in 2007, many investors lost confidence in the traditional banks and their practices (Reuters, 2008; CNN, 2009). Today even the Holy See states that ‘the ethic principles on which Islamic finance is based may bring banks closer to their clients and to the spirit which should mark every financial service’ (Bloomberg, 2009). According to recent estimates, IFIs could increase their assets under management from roundabout $700 billion to over $1.6 trillion in 2012 (Reuters, 2009). WICHTIG: Sämtliche Recherchetätigkeiten wurden bei in den Vereinigten Arabischen Emiraten ansässigen islamischen Banken vor Ort durchgeführt.

Master's Thesis from the year 2010 in the subject Business economics - Investment and Finance, grade: 1,7, Maastricht University (School of Business and Economics), course: -, language: English, abstract: 1.1 General Introduction to the ...

Islamic Asset Management

A clear overview of the Islamic asset management marketplace

Alcohol. The prohibition on alcohol is far reaching and extends to distilling,
marketing and sale. It also includes working in the industry: distillers, brewers,
pubs and any business that generates a significant amount of its revenue from
the sale ...

Islamic Perspectives on Management and Organization

"Scholars and practitioners who specialize in business, economics, international relations, religion, and sociology will find this book a necessary resource for broadening their understanding of the religious and cultural aspects of conducting business across cultures. The comprehensive and original coverage of the book will prove useful in understanding business, cultural, and philosophical issues related to the Islamic World."--BOOK JACKET.

... quality work in management science, human resource management,
organisational behaviour, marketing, management information systems,
operations management, business ethics, strategic management and
international management.

Islamic Perspectives on Marketing and Consumer Behavior: Planning, Implementation, and Control

Planning, Implementation, and Control

In today’s increasingly connected business world, there is new pressure for local brands to go global, and a need for already global corporations to cater to new audiences that were previously ignored. Islamic Perspectives on Marketing and Consumer Behavior: Planning, Implementation, and Control brings together the best practices for entry and expansion of global brands into Islamic countries. This book is an essential reference source for professionals looking to incorporate the laws and practices of Islam into the global presence of their company and presents a cutting edge look at worldwide retail for marketing researchers and academics.

The understanding about Islamic marketing has attracted the attention of many
global and regional scholars in Islam while the issue of understanding the
consumer behaviour and using the same in the marketing strategy has not been
studied ...

Handbook of Islamic Marketing

ÔThis is an especially timely publication, given the current metamorphosis of politics in the Middle East and North Africa. ...zlem Sandõkcõ and Gillian Rice are to be congratulated for having sensed the need for a Handbook that will alert marketers to the vast market opportunities offered by Muslim consumers. It is essential to become attuned to the values and principles of Islamic cultures that will drive consumption, product and service choices, brand preference, and brand loyalty in coming years. The scholars who have contributed to this Handbook come from many different backgrounds to offer a kaleidoscope of research and recommendations on how best to serve this previously overlooked segment of consumers who make up a quarter of world markets.Õ Ð Lyn S. Amine, Saint Louis University, US ÔThis ambitious and timely collection will be enormously valuable to readers in the practice and study of the growing field of Muslim marketing and branding. Essays range expertly across key sectors (notably finance, food, and fashion) and territories (of Muslim majority and minority population). Contributors elaborate the diversity of Muslim experiences, beliefs, and practices that must be taken into account by marketing professionals seeking to exploit this newly recognized market. Academic authors provide helpful postscripts for marketers, making clear the links between their nuanced historicized understanding of contemporary transnational, global, and local forms of Muslim identity and practice. This book provides an essential guide to those who study and those who participate in Muslim branding and marketing.Õ Ð Reina Lewis, London College of Fashion, UK The Handbook of Islamic Marketing provides state-of-the-art scholarship on the intersection of Islam, consumption and marketing and lays out an agenda for future research. The topics covered by eminent contributors from around the world range from fashion and food consumption practices of Muslims to retailing, digital marketing, advertising, corporate social responsibility and nation branding in the context of Muslim marketplaces. The essays offer new insights into the relationship between morality, consumption and marketing practices and discuss the implications of politics and globalization for Islamic markets. This comprehensive Handbook provides an essential introduction to the newly emerging field of Islamic marketing. It is invaluable for researchers and students in international marketing who are interested in the intersection of Islam and marketing as well as those from anthropology and sociology studying Muslim consumers and businesses. The book also supplies vital knowledge for Muslim and non-Muslim business leaders generating commerce in Islamic communities.

This book provides an essential guide to those who study and those who participate in Muslim branding and marketing.Õ Ð Reina Lewis, London College of Fashion, UK The Handbook of Islamic Marketing provides state-of-the-art scholarship on ...

The Principles of Islamic Marketing

The Principles of Islamic Marketing fills a gap in international business literature covering the aspects and values of Islamic business thought. It provides a framework and practical perspectives for understanding and implementing the Islamic marketing code of conduct. It is not a religious book. The Islamic Economic System is a business model adopted by nearly one fifth of the world's population. Baker Alserhan identifies the features of the Islamic structure of International Marketing practices and ethics. Adherence to such ethical practices elevates the standards of behaviour of traders and consumers alike and creates a value-loaded framework for firms, establishing harmony and meaningful cooperation between international marketers and their Muslim target markets. His book provides a complete guide to the requirements an organization needs to follow when managing its entire marketing function within the Muslim market or when adapting part of its offering to that market. It addresses the challenges facing marketers involved in business activities with and within Islamic communities, the knowledge needs of academic institutions, and the interest of multinationals keen on tapping the huge Islamic markets. Along the way, Baker Alserhan provides insights into the various aspects of promoting to the Islamic markets such as franchising, distribution channels, and retailing practices, branding, positioning, and pricing issues; all within the Muslim legal and cultural norms. Above all, The Principles of Islamic Marketing will lay the foundation of, and advance, Islamic Marketing as a new social science.

The Principles of Islamic Marketing fills a gap in international business literature covering the aspects and values of Islamic business thought.