Islamic Branding and Marketing : Understanding the Global Muslim Consumer  - Temporal, Paul

Islamic Branding and Marketing : Understanding the Global Muslim Consumer

Paul Temporal

Yayınevi: Wiley

Yayın tarihi: 03/2011

ISBN: 9780470825396

Ciltli | İngilizce | 256 Sayfa | 16,21x23,9x2,24 cm.

Tür: Satış-Pazarlama

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Around 25% of the world's population is Islamic, with varying degrees of affiliation and implementation of that religion. While business leaders, academics, and others in the West often think of the Islamic population as concentrated in a handful of nations, especially in the Middle East and South East Asia, the truth is that there are significant Muslim minority populations around the world, from India to China, and France to Japan.

Throughout the Middle East, Asia, Africa and Europe in Islamic majority and minority countries there is massive business activity, with Islamic trade currently assessed in trillions of dollars.

In terms of global economic power and commercial success, it is becoming clear that Islamic countries are gaining ground on their Western counterparts.

The rising prosperity and spreading population of Islam is, however, only part of the story. From a marketing perspective, the Muslim world would dearly like to develop a plethora of leading global brands, partly as a response to the rise of branding activity in other parts of the world, and also to diversify their business interests and develop greater economic well being.

From the late 1980s, there has been a terrific increase in the number and success of Western held brands. During the 1990s, we saw a competitive response beginning in Asia, with brands from countries such as Singapore, South Korea, India and China making considerable progress in regional and global markets. One reason for this is that the cultivation of intangible assets such as strong brands is seen as an essential feature of a mature, stable national economy.

It is perhaps not surprising, therefore, that early signs of branding success from Islamic countries such as those in the Middle East are emerging, and I believe that the next wave of brand development and success will come from the Islamic world. At the same time, the vast potential represented by large Muslim populations everywhere has caught the eye of the multinationals rooted in the West.

However, it is only recently that countries and companies have fully realized Islamic market potential. Principally, the impetus for doing more business in Islamic majority and minority markets has come from three sources:

1. The rapid expansion of Western brands to penetrate these markets.

2. The response from Islamic companies and the need to rely less on oil production for many who see it as a finite resource.

3. The rise of industries that conform to Islamic practice, such as Islamic Financial Services.

While Islamic audiences love the Western big brands, there are three main reasons why they wish to have their own.

1. Western brands are often not compliant with Islamic values (or ethics), for instance, in hospitality, food and beverage, pharmaceutical and medical products and services markets.

2. Islamic countries want to create their own global brands which they see as strategic business assets and national brand ambassadors.

3. The growth of the educated middle class in Muslim minority and majority cultures and countries has created an impetus to developing businesses, products and services which are competitive with the long established and accepted brands.

As a consequence of the above, there is now a considerable surge in demand within Islamic countries and companies to master the branding and marketing techniques and skills so ably demonstrated by the West to essentially address international perceptions of Islamic products, services, businesses and the countries and cultures of their origin.

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