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The Application of Religious Appeal in the Strategic Marketing Communication of Financial Services in Pakistan for "Consumer Manipulation”

Author

Listed:
  • Naseem Bakht Yar
  • Bakht Yar Akhtar
  • Irfanullah Khan
  • Saqib Khan

Abstract

The perimeter of this article ranges to the limited and perceptual dimension of the business particularly in the Islamic Banks. The main objective of this article was to comprehend that whether the Islamic banks are practicing the principles of Islam in their true spirit or the same banking system is only coated by the word ‘Islamic’ to win the clientage. True it is that the whole mechanism is same except some modes, by the virtue of whom, the graph of the consumer`s shift to this banking system has shown prominent increase. So there is just a very fine difference between the Islamic and the conventional banking. If so, then what are those factors that are promoting the consumer’s inclination towards Islamic banking as recently its operational diameter is expanding beyond the Islamic countries? Therefore, this study aims to find out whether the consumers are really being manipulated in terms of religious marketing or not? Secondly, it has been worked out that the Islamic banking working upon the principles as embedded in Quran and Hadith or it is only producing the by-products of the conventional banks. It has been concluded in the present work that the Islamic banking is Shariah compliant but to its minimum level.

Suggested Citation

  • Naseem Bakht Yar & Bakht Yar Akhtar & Irfanullah Khan & Saqib Khan, 2014. "The Application of Religious Appeal in the Strategic Marketing Communication of Financial Services in Pakistan for "Consumer Manipulation”," International Journal of Academic Research in Business and Social Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences, vol. 4(2), pages 88-99, February.
    • Handle: RePEc:hur:ijarbs:v:4:y:2014:i:2:p:88-99
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    References listed on IDEAS

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    1. Abul Hassan & Abdelkader Chachi & Salma Abdul Latiff, 2008. "Islamic Marketing Ethics and Its Impact on Customer Satisfaction in the Islamic Banking Industry القيم الإسلامية للتسويق وأثرها في كسب رضا العميل في صناعة الصيرفة الإسلامية," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 21(1), pages 27-46, January.
    2. Gül Berna Özcan & Murat Çokgezen, 2006. "Trusted Markets: The Exchanges of Islamic Companies," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 48(1), pages 132-155, March.
    3. Chong, Beng Soon & Liu, Ming-Hua, 2009. "Islamic banking: Interest-free or interest-based?," Pacific-Basin Finance Journal, Elsevier, vol. 17(1), pages 125-144, January.
    4. Hussein, Kassim, 2010. "Bank level stability factors and consumer confidence – a comparative study of Islamic and conventional banks’ product mix," MPRA Paper 21800, University Library of Munich, Germany.
    5. Abdul Hafeez Quresh & Kashif Ur Rehman, 2012. "A Comparison between Islamic Banking and Conventional Banking Sector in Pakistan," Information Management and Business Review, AMH International, vol. 4(4), pages 195-204.
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