Handbook of Islamic Marketing
Show Less

Handbook of Islamic Marketing

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.
Buy Book in Print
Show Summary Details
You do not have access to this content

Chapter 14: Market Segmentation and Buying Behaviour in the Islamic Financial Services Industry

Rusnah Muhamad, T.C. Melewar and Sharifah Faridah Syed Alwi


Rusnah Muhamad, T.C. Melewar and Sharifah Faridah Syed Alwi INTRODUCTION The Islamic method of banking and financing has become a global phenomenon and has successfully developed into an established industry known as the Islamic financial services industry (IFSI). The industry has generated renewed interest among the players in the financial world amid the recent sub-prime and financial crisis. More importantly, IFSI has emerged as a viable alternative to the conventional interest-based financial services industry (CFSI), and has expanded rapidly over the last two decades with diverse clientele in both Muslim and non-Muslim countries. It is attracting growing interest from global players who are taking increasingly major roles in this industry (Aslam, 2006). For the past 30 years of its existence, the IFSI has been successful in providing an array of financial products (IDB et al., 2007). However, what is lacking at present is a detailed and classified understanding of consumers’ segmentation for the industry, thereby making the strategic positioning and marketing of IFS globally unclear and problematic. Traditionally, consumer segmentation by banks was largely limited to categories of corporate and retail consumers (Machauer and Morgner, 2001). Corporate consumers are distinguished by their geographic range of activities (regional versus international) or by their sector affiliation. In personal retail banking, externally observed demographic or economic criteria such as profession, age, income or wealth (known as the ‘a priori’ approach) are often used as dimensions for segmentation (Machauer and Morgner, 2001; Harrison, 1994; Meidan, 1984). Consumers could also be segmented based on a...

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information

or login to access all content.