Islam has stated a set of rules and guidelines for trade and commerce. The concept of “Global Islamic Marketing” emerged as a separate discipline, which was based on the teachings and guidelines of Islam. Islamic marketing practices are considered effective and they have helped in improving business standards. Global marketers adopt Islamic marketing principles in order to study the consumer behaviour in the international Islamic markets.
Globalisation has highly influenced the corporate world and its practices. The core emphasis is on the contemporary teachings of doing business. The religious teachings and beliefs have a significant impact on business decisions and activities. It has been argued that Islam being one of the major religions has a significant influence on trade and commerce.
It presented rules, ethical guidelines, and restrictions for doing business. The Islamic practices are adopted by both Muslim and non-Muslim organisations. The contemporary studies have referred to these Islamic practices as Global Islamic Marketing (Temporal, 2011). This paper aims to highlight the role of Global Islamic Marketing.
Islam set out rules and guidelines for trade and commerce. Global Islamic marketing refers to a separate discipline, which is based on the teachings and guidelines of Islam (Shamma & Maher, 2012). On the basis of global Islamic marketing, companies and consumers could follow the Islamic principles and engage in business activities in an ethical manner (Sandikci, Sandokco, & Rice, 2011).
It could be noted that Islam is more than just a religion to Muslims. It provides a complete guidance for life. The Islamic markets promote a socio-cultural environment that is highly dependent on the religious teachings. Businesses in these markets have altered their behaviours and patterns according to the teachings of Islam. Not only Muslim organisations, but also non-Muslim organisations have adopted Islamic marketing practices (Demangeot, 2012; Gibbs & Ilkan, 2008).
According to Saeed, Ahmed, & Mukhtar (2001), global Islamic marketing practices are effective and they have helped many companies throughout the world to be successful. Businesses adopt Islamic marketing practices to achieve a high level of quality for their products and services that eventually generates high profits. Islam as a religion plays a crucial role in the global marketing (Majić & Kuštrak, 2013).
The Islamic principles have enhanced the business standards of both Muslim and non-Muslim organisations as well as the quality of their products and services (Hussnain, 2011). Since one fifth of the world’s population comprises Muslims, it is important for global marketers to understand, learn and follow their marketing principles (Alserhan, 2012).
Furthermore, global Islamic marketing practices have allowed organisations to generate high revenues without compromising their religious beliefs. The findings also indicate that global Islamic marketing is a set of different activities, such as branding, promotion, etc., that businesses perform from time to time (Hassan, Chachi, & Latiff, 2008).
Islam explains effective ways of doing business and carrying out marketing activities. These principles also clearly define the acceptable behaviour for Muslim consumers. It is also suggested that in the recent years global Islamic marketing strategies and principles have greatly influenced the international Islamic markets (Visser, 2009).
Global Islamic marketing is a relatively modern concept. Its practices are based on the Islamic guidelines and limitations. Islam has always emphasised on trade and commerce, and it has provided guidelines as an alternative to the traditional marketing practices. Islam has always tried to establish and maintain a balance between trade and humanitarianism. These practices never compromise the ethical limits and religious faiths of consumers.
It is recommended that the reader further explores the principles of Islamic marketing that could help businesses in adopting ethical marketing practices and boost customers’ trust in their marketing messages.
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