Why Islamic Branding
- Why Islamic Branding
The Muslim consumer market, at 1.8bn people…
is undeniably the next important (and largely untapped) global opportunity. The halal market alone is worth a staggering US$2.1 trillion a year and is increasing at US$500bn a year due to the growth of the global Muslim population.
As China and India have captured the attention of the world’s marketers in recent years, a quiet but enormous business potential lies largely untapped in the global Muslim consumer market today, justifying a shift in focus to what Vali Nasr in Forces of Fortune calls the ’3rd one billion’.
In recent years global marketers have started to enthuse over the size of this prize and ruminate on the importance of cracking it – but we believe the challenge is in managing it knowledgeably, sensitively, and profitably for the long term.
‘Islamic Branding’ is a relatively new concept, and at the birth of this new field of learning, Ogilvy & Mather is proud to present Ogilvy Noor, a pioneering consulting service for marketers seeking to appeal to Muslim consumers. We believe that good Islamic Branding practice, that is, branding that is friendly or compliant with Shariah principles, naturally embodies many of the values that global businesses are feeling the pressing need to communicate today. Values such as honesty, respect, accountability and understanding are core to the principles of Shariah and resonate deeply with Muslim consumers across the world.
We are keen to establish that the emerging field of Islamic Branding is not restricted to only brands who consider themselves Islamic, or want to be Islamic. At Ogilvy Noor, we believe that the principles of good Islamic Branding practice, as we define them, are good practice for all businesses the world over.
Given the trials faced by global business and governments in recent years, there is no better time to own a study of this nature. Understanding the principles of Islamic Branding through our expert guidance will give your business an edge in a market that the world is just waking up to.