No doubt it is an emerging field and it will take a long time to realize its full potential. Creating a global islamic business provides a complete guide to building brands in the largest consumer market in the world. Critical assessment of conventional marketing a muslim who has a sound base in islam must identify what is permissible and what is not, conscious consumption of haram things, without regret, holds the risk of spiritual or physical punishments in the islamic law andor in the world hereafter. The global muslim market is now approximately 23 percent of the worlds population, and is projected to grow by about 35 percent in the next 20 years. In recent years, a critically oriented substream of research on muslim consumers and businesses has begun to emerge. The book also supplies vital knowledge for muslim and nonmuslim business leaders generating commerce in islamic communities. Muhammad mumtaz ali was born in hyderabad, india in 1955 and graduated in 1974 from osmania university in the same city. While the book offers a genuine view of islamic perspectives on strategic management, it does not ignore the current developments in strategy formulation and execution. Day after day, in each cycle of our daily islamic prayers, we humble ourselves and bow down from the waist in the ruku position sometimes referred to as genuflection. Case studies add an applied perspective to a book which is rich in conceptual insights about religion and marketing practices. Trade and business, from islamic viewpoint, must be done for the welfare of mankind.
Strategic management from an islamic perspective wiley. The concept of business ethics in islamic perspective. Insights from a critical perspective, journal of islamic marketing. This scholarship, located both within and outside the marketing field, adopts a socioculturally situated approach to islam and investigates the complex and multifaceted intersections between islam and markets. An international marketing strategy perspective on islamic marketing sonja prokopec and mazen kurdy. The current practice of marketing prevailing nowadays all over the world is sometimes not suitable to the muslim population, given the different religious teachings of islam that are reflected on all the other aspects of the muslims lives as islam is not a mere religion but rather a complete way of life, containing guidelines and teachings for every single detail in the everyday life. Marketorientation and islamic business practices in malaysia raja nerina raja yusof, andre m.
A marketing perspective gartner s top insights for the csuite is an annual publication that highlights the critical challenges functional leaders are facing in todays complex business environment, which is characterized by change, competition, uncertainty and opportunity. The convergence of religion, economic selfinterest and marketing kenneth beng yap 14. Oct 30, 20 islamic marketing strategics satisfy to customers based on the human values, marketing cultures, and islamic rules and regulations. A product development perspective muhammad aqib ali1 talat hussain2 abstract the research is conducted to explore and design mechanisms to shift the focus of islamic banking and finance practitioners from. Handbook of islamic marketing edited by ozlem sand. This article aims to clarify the needs in forming theoretical framework for islamic marketing with focus on two things of firstly the accuracy of the available approach in islamic point of view and secondly the current situation of islamic marketing in terms of the concept, theory, model as well as the approach. A critical analysis has four main sections that starts with providing the indonesian economic landscape, followed by a considerably long account of various issues and concerns on islamic banking and finance and its management and concludes with the serious issue of human capital development. Sep 10, 20 praise for strategic management from an islamic perspective this is an excellent textbook that reflects a depth in coverage and practicality in treatment of strategic issues. In total, emerald publishes over 275 journals and more than book series, as.
Gartner s top insights for the csuite is an annual publication that highlights the most critical challenge functional leaders are facing in todays complex business environment, which is characterized by change, competition, uncertainty and opportunity. Marketing mix from islamic marketing perspective by anwar. Although differing in size and behaviour across the world, muslim markets provide many business opportunities across all product and service categories, including the following. This paper attempts to provide insights on islamic marketing im through discussing. This means that all inputs, processes and outputs must be shariahcompliant, i. The islamic ethical system is balanced, fair, just and benevolent, and. Multilevel marketing mlm has been one of the controversial businesses in this modern business.
Ethics and ethical theories from islamic perspective alhasan alaidros, faridahwati mohd. Focus on religious rules and ethics combine a valuemaximization concept with the principle of justice for the wider welfare of the society hassan et al. The principles of islamic marketing fills a gap in international business literature covering the aspects and values of islamic business thought. In some parts of the world, it is considered an act of respect to bow down in front of another, while in other parts of the world, it is considered as an act of submission. Furthermore, the integration of islamic marketing and contemporary marketing can be seen as a new perspective to address the upsurge of interest towards islamic marketing. Abstract no significant work has been done on the subject of islamic marketing and for the same reason we cant even find a proper definition of it in any book or on any website. A product development perspective muhammad aqib ali1 talat hussain2 abstract the research is conducted to explore and design mechanisms to shift the focus of islamic banking and finance practitioners from debtbased modes. Capitalism in medieval islam the journal of economic. There are a number of rules of ethical discipline in islamic commercial transactions without which business contract would be regarded as lacking perfection in the light of the code of good manners, decency and ethical excellence. The convergence of religion, economic selfinterest and marketing chapter 14. Nov 14, 2012 critical assessment of conventional marketing a muslim who has a sound base in islam must identify what is permissible and what is not, conscious consumption of haram things, without regret, holds the risk of spiritual or physical punishments in the islamic law andor in the world hereafter. Ethics and ethical theories from an islamic perspective.
Journal of islamic marketing jima was the first journal dedicated to investigating marketings relationship with islam, in theory and practice, across muslim majority and minority geographies. Introduction leading an organization is like driving a car critical thinking the problem with conventional management the problem with conventional strategic management the value of strategic management from an islamic perspective chapter 2. An islamic perspective 107 ii to supply the necessities to the people in exchange of money and thereby to meet their needs. The important finding claimed that business ethics cannot be separated from ethics in the other aspects of a muslims daily life. This content would tend to patronise most people already working in branding and marketing. Fascinating insights into modern strategic management. Marketing mix can be described as the total sum of all decision associated with marketing activities. An international marketing strategy perspective on islamic. The understanding of these differences is necessary in order to help the companies, customers and other stakeholders to evaluate the possible implications of the acceptance of islamic marketing. Beekun and badawi 2005 examined islamic business ethics from a normative perspective. Avoiding stereotypes and prejudices, written by insiders, wellinformed and objective, islamic marketing and branding offers a unique approach to a yet largely misunderstood province of marketing knowledge jean. Jun 25, 2011 islamic branding and marketing opportunities. Insights from a critical perspective, journal of islamic marketing 31.
Islamic marketing can be defined as the wisdom of satisfying the needs of customers through the good conduct of delivering halal wholesome, pure and lawful products and services with the mutual consent of both seller and buyer for the purpose of achieving material and spiritual wellbeing in the world here and hereafter and making consumers aware of it through the good conduct of marketers. Download this e book to learn how strategy leaders can leverage strategy execution. The essays offer new insights into the relationship between morality, consumption and marketing practices and discuss the implications of politics and. Abdel bari atwans book is carefully researched and offers new insights into the islamic states inner workings the digital world has been a central feature of the islamic states is rise to power, driving much of its recruitment as well as building and maintaining its fearsome image. An international marketing strategy perspective on islamic marketing chapter. While strategic management is a cornerstone of any mba program, its almost always taught from conventional theories and typically american case studies. Handbook of islamic marketing edward elgar publishing. No doubt it is an emerging field and it will take a. Market analysis from an islamic perspective and the.
Capitalism in medieval islam volume 29 issue 1 subhi y. He received masters in political science from aligarh muslim university, aligarh, india and later obtained mphil and phd in islamic studies from the same university while completing empirical investigation of his research in england during 198283. Journal of global business and social entrepreneurship gbse vol. Multilevel marketing from islamic perspectives 1mohd shahril ahmad razimi, abd rahim romle and ummu noor habibah yahya23 1,3islamic business school, school of government,2 universiti utara malaysia, 06010 sintok, kedah, malaysia abstract. Market segmentation and buying behaviour in the islamic financial services industry. It provides a framework and practical perspectives for understanding and implementing the islamic marketing code of conduct. Conventional and islamic views market is an important and necessary institution for all human beings either they live in a barter economy or monetized economy. Islamic marketing strategics satisfy to customers based on the human values, marketing cultures, and islamic rules and regulations. Islamic branding and marketing the marketing society. In response this important new book is the first text designed to raise awareness of the critical, ethical, social and methodological issues facing contemporary marketing. Learning to think critically is crucial to a persons ability to distinguish truth from falsehood and benefit from harm. Since, advertising is a part of business that provides information about the. An islamic market is characterized by certain norms that take care of the interests of both the buyer and the seller.
Jan 02, 2012 fascinating insights into modern strategic management from an islamic perspective. The global muslim market is now approximately 23 percent of the worlds population, and is projected to. Oct 31, 2011 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. Purpose the purpose of this paper is to explore the reasons underlying the recent interest on islamic marketing, discusses past research on the topic and offers a future research perspective. The paper highlights the constructive value of critical approach to the development of marketing theory and practice. Decision based on the marketing mix is critical for the success products. Fascinating insights into modern strategic management from an islamic perspective.
Islamic marketing and highlights the dangers of an essentialist perspective. Idris 4 consequences theories consequence theories, utilitarian theory and egoism theory, look at the consequences of any action to determine whether an act is right or wrong. Marketing mix contains the following four elements and each of them will be explained from the islamic perspective. This book seeks to reflect various unheard and emerging critical voices from within the muslim world, and provide a series of critical insights on how, if and why. Praise for strategic management from an islamic perspective this is an excellent textbook that reflects a depth in coverage and practicality in treatment of strategic issues. Islamic branding and marketing creating a global islamic business by paul temporal. The term islamic marketing officially emerged only in 2010 when bakr ahmad alserhan, as the founding editor, initiated journal of islamic marketing and published the principles of islamic marketing, the first book on the subject, in 2011.
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