SUCCESS STRATEGIES IN ISLAMIC MARKETING MIX
Abstract
Islamic marketing (IM) is gaining momentum in the development of marketing knowledge and its practical implication to business and customer is undeniably significant. In fact, it has been growing rapidly in the past years and has grabbed the attention of both academics and practitioners of marketing. Nevertheless, this area still remains understudied with limited empirical evidence, particularly on marketing mix decisions or four Ps (product, price, promotion and place) in line with Islamic principles. Therefore, this paper attempts to identify critical factors in conducting Islamic marketing mix activities and their relative importance. Using combination of both qualitative and quantitative research method, this paper proposed a set of 23-item instrument that measures Islamic marketing mix which has been empirically tested for its unidimensionality, reliability and validity through factorial analyses. Findings suggest that Muslim customers consider five critical factors that must be emphasized by businesses in conducting their marketing mix. In their order of importance using multiple regression analysis, the factors are ‘Conformity’, ‘Character’, ‘Commitment’, ‘Conscience’ and ‘Customer Centrism’. Therefore, it is proposed that businesses can adopt the strategies in engaging with Muslim customers through their marketing mix activities by consistently conforming to Syariah, exhibiting distinctive characteristics, instilling assurance, embedding morality and conscience and lastly embracing a ‘customer oriented’ approach.
Keywords: Islamic Marketing; Marketing Mix; Factorial Analyses.
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