We are living in a world where almost 1 out of every 5 person is a Muslim. The degree to which they practice religion is subject to debate, but the fact that is important to understand that Muslims are too big a niche to be ignored.
- According to JWT Muslims are Britain’s biggest untapped Niche (ref: article on tapping Muslim community)
- When British banking giant HSBC began offering Islamic banking practices in Malaysia, it was surprised that more than half of its customers were non-Muslim (business week article on Islamic banks )
We need to explore more powerful means to tap into this segment. I am sharing a presentation that elaborates my POV.
In Summary, following are the few points which I am trying to bring forward. Branding to Muslims, have to go beyond ‘just imagery’ & ‘Technical Shariah Compliance’. We need to understand Muslims better and have to identify strong unique selling points for each product offering. To identify a USP, we need to first work on understanding the consumer better. Following are key points (as per my observation) about Muslims :-
- A Muslim is someone who submits to the will of God Summary declaration of faith “I have faith in Allah as He is known by His Names and attributes and I accept all His commands.” For detailed 77 branches of faith click here
- And this unquestioned submission leads him towards a constant struggle to strike a balance between Holy and Worldly. A brand can help him achieve that through a solid product offering
- Internationally Muslims are facing a negative stereotype perception, to show that there is a strong negative stereotype image that exists around Muslims I am quoting an excerpt from the speech of Obama in Cairo: “And I consider it part of my responsibility as President of the United States to fight against negative stereotypes of Islam wherever they appear.”
- Hence each day Muslim either try or yearn to present a positive image of their religion, a brand can be a great enable on this front.
- Lastly I am quoting a study from AMRB about marketing to Muslims, it has some very solid recommendations on that front.
In short, a brand that aims at tapping this market should aim Remember; the aim should be creating a USP backed by strong business values (corporate philosophy) taught by Islam.
- Islamic branding – the next big thing by Miles young