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Islamic Marketing could be ethics-based marketing in which marketing activities are guided within the parameters of Islam. It can also mean the practices carried out by companies, Muslims or otherwise, to target Muslim consumers with products and services.
All brands, whether owned by Muslims or non-Muslims, should seize to capitalise on the growing and increasing affluent Muslim consumers who are looking for better products and services to serve their unique needs.
Singapore has vibrant and growing halal-food and fashion industries, and was ranked as the friendliest travel destination among non-Muslim countries for Muslim travelers by the Global Muslim Travel Index. The republic is also known for its business-friendly economy. This combination makes it ideal for businesses to create and deliver better value to serve the unique needs of Muslims in Singapore. At the same time, brands can also develop their brand management capabilities as they attempt to attract the universal values of their halal products to the larger non-Muslim majority in Singapore.
Research in Islamic Marketing in Singapore is still in its infancy, and there are many gaps in academia in the field of Islamic Marketing in Singapore. These represent opportunities for thought leadership and new research to uncover trends unique to the republic in various industries.