Sat , May 30 2020
Home / All / A New Look at Faith-Based Marketing: The Global Halal Market

A New Look at Faith-Based Marketing: The Global Halal Market

This study focuses on the key to tapping into the sizable Muslim spending power: halal marketing. Contrary to common belief, halal marketing is not confined to dietary goods.

Faith-based marketing, or addressing consumers’ religious sensibilities with faith-friendly offerings, represents a new wave of growth for companies. While kosher goods and Christian movies are well-known examples of this trend, companies continue to overlook opportunities for growing faith-based segments. Representing the fastest-growing faith-based consumer group in the world, Muslims, in particular, are a largely untapped segment. Forward-looking companies such as Nestlé, Walmart, and McDonald’s consider this segment as the next ‘one-billion’ market, after China and India, and are developing strategies to appeal to the Muslim consumer. We focus on the key to tapping into the sizable Muslim spending power: halal marketing. Contrary to common belief, halal marketing is not confined to dietary goods. Rather, it pertains to a diverse range of offerings from cosmetics to tourism that represents a global market worth $2.1 trillion annually. Modern interpretations of halal echo the claims of organic and fair-trade industries, broadening the appeal of halal to mainstream consumers. Despite the vast opportunities in halal marketing, winning the pocketbooks of Muslim consumers involves cultural, operational, and geopolitical challenges. We provide an overview of this emerging market and offer five lessons for successful halal marketing.

Bibliographic Information

Title: A New Look at Faith-Based Marketing: The Global Halal Market

Authors: Elif Izberk-Bilgin and Cheryl C. Nakata

Published in: Business Horizons, Volume 59, Issue 3, May–June 2016

 Language: English

Length: 9 pages

A New Look at Faith-Based Marketing: The Global Halal Market

 

Check Also

Halal Food, Certification and Halal Tourism: Insights from Malaysia and Singapore

This paper discusses issues of halal food and its role in halal tourism with specific reference to Malaysia and Singapore which have majority and minority Muslim...

Leave a Reply

Your email address will not be published. Required fields are marked *