Faith-based marketing, or attending to customers' spiritual perceptiveness with faith-friendly offerings, represents a new wave of development for companies. While kosher goods and Christian films are well-known examples of this pattern, companies continue to neglect chances for growing faith-based sections. Representing the fastest-growing faith-based consumer group on the planet, Muslims, in certain, are a largely untapped sector. Forward-looking business such as Nestlé, Walmart, and McDonald's consider this segment as the next 'one-billion' market, after China and India, and are developing techniques to appeal to the Muslim customer. We concentrate on the secret to using the sizable Muslim spending power: halal marketing.
Contrary to typical belief, halal marketing is not restricted to dietary goods. Rather, it refers to a diverse range of offerings from cosmetics to tourism that represents a global market worth $2.1 trillion each year. Modern analyses of halal echo the insurance claims of organic and fair-trade markets, broadening the appeal of halal to traditional consumers. Despite the large opportunities in halal marketing, winning the pocketbooks of Muslim consumers includes cultural, functional, and geopolitical challenges. We supply a summary of this emerging market and offer 5 lessons for effective halal marketing.
PUBLICATION DATE: May 11, 2016 PRODUCT #: BH737-HCB-ENG
This is just an excerpt. This case is about SALES & MARKETING
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