LAUSR

1. INTRODUCTIONIslamic marketing (IM) is a relatively new development in marketing thought and the term IM has not been addressed satisfactorily in the literature. In fact, despite the prominence of Islam, there has been little literature on Islamic marketing (Temporal, 2011; Alserhan, 2010). Based on the works of Muqorobin (2004), out of 4565 publication on Islamic economics ranging from 1994-2005, only 0.61% was securitized on marketing. Whereas banking and finance theory were 20.75% and 19.28% respectively. Based on database search in 2012, there were only 155 literatures that focus on marketing exists in the Islamic economics (IIUM, 2012). Nevertheless, major turnaround is on the way as the new millennium has shown rapid development of businesses strategy within an Islamic framework, particularly in Islamic marketing. As claimed by Sandicki (2011) the discovery of Muslims as one of crucial prospects for business is rapidly changing the above situation. Since 2010 there has been a growing number of publications and research on Islamic marketing, branding and Muslim customers.Such a momentum is triggered by sizeable Muslim populations that present a great potential of new untapped consumer markets in the global business arena. As estimated by Pew Research Centres (2009), there were 1.57 billion Muslims in 2009, representing 23% of the world population of 6.8 Billion. By 2030, the Muslim population is estimated to have grown from 1.57 billion to 2.2 billion, increasing by about 35% in the next 20 years. This enormous number of Muslim people is expected to follow the Islamic way of life that covers every sphere of daily activities. This includes matters pertaining to consumption and business activities that must be in line with the Syariah or the path that follows Islamic teaching. The recent emergence of Halal markets, also presents new opportunities for businesses with enormous potential of global market value for trade in Halal food and non-food products estimated at USD2.1 trillion annually, thus creating major interest both in Muslim and non-Muslim countries. According to Vohra, Bhalla and Chowdhury (2009), research has also shown that the Halal food market is expected to be worth about $580 billion annually in 2007. Undoubtedly, Halal markets present a vast opportunity for marketers both in Western and Islamic countries. This has forced businesses to observe and adapt to the changing environment where Halalness or Syariah compliance are of paramount importance to Muslim customers. As the global marketplace has transformed into a more sophisticated and demanding, business by any means necessary forced to formulate their business and marketing strategies that cater with their target market. The emergence of Muslim worldwide posed a greater need to understand to advance knowledge and understanding these customers.Moreover, Daud et al., (2011) pointed out that Halal certification is a new concept in marketing as well as being a quality benchmark for the producer. It has become a vital marketing tool in promoting a product since it is not just representing quality but commitments towards religious commandments as well, at least for Muslims. In the Muslim market, businesses are expected to operate in compliance with Syariah or Islamic principles, especially in conducting their marketing strategy. Thus, it is necessary for businesses to develop appropriate marketing strategies for this kind of industry. In fact, Abdullah and Ahmad (2010) called for many viable Islamic guidelines for business, specifically in conducting marketing mix activities. This study specifically highlighted the need to develop promotional activities that are in line with Islamic principles. Subsequently, another study was carried out by Ahmad and Santhapparaj (2012) found out similar vein, calling for more studies to be carried out on marketing from an Islamic perspective especially on pricing strategy.However to what extent this marketing knowledge able to accommodate such opportunity to market Halal product in the industry remain questionable. …