Islamic Banking Report by PrestigeLegalDoc

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This is an extensive report on islamic banking with full detail about the market and other informative facts about the industry.

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									                 Marketing Of Islamic Banking Products and
       Development of New Market Segments for Existing
                                                                       Product

                                                        Table of Contents
Marketing Strategy of Islamic Bank .............................................................................................................. 2

   A) Market Segmentation: - ....................................................................................................................... 2

       The variables used for segmentation include: ...................................................................................... 2

       Market Segmentation of Islamic Products: .......................................................................................... 2

   B) Target Marketing: - ............................................................................................................................... 3

   C) Market Positioning: - ............................................................................................................................ 3

   For Services like those of Islamic banks: ................................................................................................... 3

Marketing Mix issues for an Islamic Bank ..................................................................................................... 3

   1. Product: -............................................................................................................................................... 4

   2. Price: - ................................................................................................................................................... 4

   3. Promotion: - .......................................................................................................................................... 4

   4. Place: - ................................................................................................................................................... 5

   5. Packaging: ............................................................................................................................................. 5

Current Market Segments & Users of Islamic Banking Products: ................................................................. 5

How Islamic Banks should Market their Products? ...................................................................................... 5

Strategies for Creating New Market Segments for Islamic Banking Products: ............................................. 6

Conclusion: .................................................................................................................................................... 7

References: ................................................................................................................................................... 7




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Marketing Strategy of Islamic Bank

Advertising Islamic financial services is a different ball game from marketing Western products -
especially as the industry is still relatively young - and both banks and communications agencies are
reluctant to be too innovative (Hassan, n.d).

Marketing strategy is a marketing logic through which the company will be able to achieve the objetvies
of its marketing department. Because the basis of Islamic Banking is completely dissimilar from the
conventional banking therefore, Islamic Banking should be marketed in a different way to attract more
customers.



                                                                   The Process Starts from the
                                                                    Bottom to the top i.e. the
                                                                       first step is Market
                                                                    Segmentation then Target
                                                                     Marketing and then last
                                                                    step is the Positioning of
                                                                       product or ser
								
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