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Handbook of Islamic Marketing

Handbook of Islamic Marketing

Elgar original reference

Edited by Özlem Sandıkcı and Gillian Rice

The Handbook of Islamic Marketing provides state-of-the-art scholarship on the intersection of Islam, consumption and marketing and lays out an agenda for future research. The topics covered by eminent contributors from around the world range from fashion and food consumption practices of Muslims to retailing, digital marketing, advertising, corporate social responsibility and nation branding in the context of Muslim marketplaces. The essays offer new insights into the relationship between morality, consumption and marketing practices and discuss the implications of politics and globalization for Islamic markets.

Chapter 15: Customer-based Brand Equity of Islamic Banks in Bahrain: An Empirical Investigation

Omneya Mokhtar Yacout and Mohamed Farid Elsahn

Subjects: business and management, international business, marketing, economics and finance, islamic economics and finance


Omneya Mokhtar Yacout and Mohamed Farid ElSahn INTRODUCTION Islamic banking and finance have become a major area of interest in the fields of economics, finance, and marketing. Modern Islamic finance has become a trillion-dollar industry (Clarke, 2009), with various banks offering Islamic financial services in Muslim and non-Muslim countries. The introduction of Islamic financial products across the world has been in response to the growing need of a significant segment of the marketplace that refused to deal with interest-based instruments (Elfakhani et al., 2007). However Islamic banks have succeeded at the tactical level within the marketing process, while strategic issues, such as brand equity, have suffered (Naser and Moutinho, 1997). This explains why the level of knowledge of Islamic products seems weak across studies that have measured such knowledge. Research findings also show that attitudes toward Islamic financial services are at least partly influenced by religious factors and perhaps other individual characteristics of the consumer (Bley and Kuehn, 2004). The increasing competitive environment from both Islamic and conventional banks and the changes in customers’ perception necessitates assessing the brand equity of these banks. Brand equity reflects the customer response to marketing efforts (Keller, 1993). The merger mania of the 1990s has led brands to be assigned monetary values on the balance sheet, for the purposes of corporate valuation (Morgan, 2000). The escalating cost of brand building (Simon and Sullivan, 1993) requires calculating and tracing return on marketing expenditure, for which brand equity is an important measure (Reynolds and Phillips, 2005)...

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