In this mindset, it becomes equated with ‘greys’ or the ‘pink dollar’. The second challenge is the tendency of the marketing and advertising industry to see the Muslim market as just another segment. In other words, the big transition needs to be from a local/tactical function to a global/strategic one. Now if it is anywhere at all, it is within local markets in product management. Where does the Islamic conscience rest? I suspect it will increasingly be with global product management, another vertical function. This causes significant issues of sponsorship within organisations. However, the Islamic world is a powerful vertical segment that unifies attitudes and behaviours, but not always by geography. The first is that global enterprises still operate within matrix structures in which the primary axis is geographic. There are two challenges that Western marketers face when contemplating this opportunity. It is also one from which we in the West can learn. The reassertion of thought and culture that this has produced, at a time of technological change, means that this is an active, creative and innovative constituency, and one that is on the move. But the numbers alone do not tell the whole story.įrom the 1970s we have witnessed an Islamic Renaissance, perhaps as profound as its European counterpart of the 16th century. There are more than 750 million Muslims under the age of 25, representing 43% of the global Muslim population, and 11% of the world’s. Muslim countries have some of the youngest populations in the world. And 53% of the population of the N11 countries are Muslim. But many are starting to look at the Next Eleven (N11) countries (Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, the Philippines, South Korea, Turkey and Vietnam) as having a high potential of becoming the world’s largest economies in the 21st century along with the BRICs. Most global enterprises, whether from the West or the East, have a BRIC strategy. The GDP of the five large Middle Eastern countries is the same size as India’s, but on a population that is one-third of it. And it is not just that the numbers are there, but the value is also. The Muslim market is bigger than the market in India or China, yet it receives a tiny fraction of the attention. It is ironic that the standards that Muslim consumers expect from companies and brands should be the drivers of enlightened Western practice: brands should be sincere, honest, friendly and committed to improving life. In this exploration of the world of the Muslim consumer, Miles Young outlines the important features marketers should understand.
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