From the late s, there has been a terrific increase in the number and success of Western held brands. During the s, 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. B2B Branding in Malaysia. Advanced Brand Management: M..
Building Shariah-Compliant Islamic Brands
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Trump University Branding How to Build t.. But Islamic branding is actually more complex than this, and exists at three levels. Brand level Criteria Industry Example Exclusive level Overtly Islamic brands Finance and Food sector base their appeal strictly on Shariah principles Secondary level brands created by Airline and Telco Islamic-rooted organizations, informed by Islamic beliefs but that are broader in their appeal Third level brands that emanate Automobile and oil and from Islamic countries gas but are not religious in character Achievement of Malaysian brand in Global Business and Challenges.
Based from the study conducted by dinarstandart. Meaning that, the world market has acceptance of Malaysian brand as one of the strong band Muslim country brand and it significant in deliberating the value of Islam in the Muslim brand which the organization represent. Along with conveying the Muslim brand, the communication aspect in term of akhlak and the values of the product would need to develop trust amanah trough usage, product quality delivery and positive word of mouth.
As such the usage and acceptance of Islamic Finance retail products is higher amongst non-Muslim that amongst Muslim and the penetration of Takaful among Muslim market is still low. At the and of the day as consumer, most of us use brand on which we have trust amanah and to a great extend a loyalty with those brand.
Summary The 1. This has also offer enormous potential for entrepreneurial effort to embark on shariah compliant products or services.
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The worldview of Islam urges religious commitment as the pinnacle of Muslim lives. It obliquely determine the Muslim consumer behaviour. It shapes Muslim need, want, taste and preferences towards buying behaviour, thus led to creating a brand for Muslim product.
Islamic Branding and Marketing
Therefore, Islamic brand is a reflection of akhlak and values of Islam. It is the philosophy underlying the high quality, clean and healthy factors. This has eventually rose to many entrepreneurs including non- Muslim to vie for Islamic finance, halal product and the growing sector of halal logistic. Need for Islamic brand has increase up due to the awakening fact that Muslim needs to live in a way that is prescribed by Allah and his messenger.
The progress lies on the awareness that western brands are often not compliant with shariah value.
Q&A with Author Paul Temporal: Reaching the Islamic Market
Apart from that, Islamic countries also realize that the need to create their own global market brand which they see as a medium for dakwah and as strategic business assets as well as national brand ambassador. No less importance, the growth of the educated Muslim on Islamic religious has created an impetus for developing and applying true Islamic business practice which producing products and services that are competitive with the long-established and accepted brands. The accentuation of Islamic branding for Malaysia stemming from the need to attract various customers group and segments by promoting product differentiation and Islamic values.
This can be done by managing market perception, promoting strengths and eliminating perceived weaknesses. It explains the relationship between human and its creator, and inter-human relationship.
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It is the important ingredient in building brand with universal appeal. These sources derive the values of shiddiq, amanah, fathanah and tabligh. They blended well with other generic Islamic values such as purity and wholesomeness, honesty and consistency, and fairness and kindness.
The complexity of Islamic brand can be explained through three different brand levels. The exclusive level is for overtly Islamic brands which base their appeal strictly on shariah principles. The secondary level brands is the brand created by Islamic rooted organization, informed by Islamic beliefs with broader appeal, while the third level is the brands that emanate from Islamic countries but are not religious in character. Islamic branding is the new chapter of Muslim products.
Penetrating global market as Muslim product is a short term strategy to tap the huge market. The dilemma in building a strong loyal market that promises long term success to Muslim product lies in Islamic branding. Islamic branding will determine the survival of Muslim product in highly competitive market and it also provides resiliency to springing back from adversity in economic turbulence scenarios. This paper investigates the promising of Islamic branding to Malaysia.
It draws the elements and sources of Islamic values and link them to the development of Islamic brands in Malaysia, and it discusses related efforts needed to adhere to in order to further develop Malaysian Islamic brands in global market. Reference Abusulayman, A. Rice, G. Williams, A.
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Sharma, A. Market research is thus essential to develop messages and images that are culturally sensitive to Muslims and to their national cultures. How can you effectively incorporate Islam into a campaign without offending Muslim audiences? The global Muslim market can be considered to be a lifestyle market as Islamic values and practices heavily influence the daily lives of all Muslims.
Islamic branding and marketing is not about selling a religion, but all marketing initiatives have to appeal to Islamic values.
The sources of Islamic values reveal that they are mostly of universal emotional appeal, and indeed can be used to attract both Muslim and non-Muslim consumers. Imagery must be carefully researched by Western brands to make sure it is not offensive in any way and in many categories the use of Halal accreditation endorsements is essential.
Alternatively, Islamic companies can stick to their values and still produce campaigns with imagery that Western consumers are used to. So many Muslim consumers are young.