Marketing Management in an Islamic Banking Environment: In Search of an Innovative Marketing Concept

Abstract

International banks are aggressively utilising the marketing concept in order to respond to an increasingly competitive industry. Banks in the Middle East, as in many developing regions, are seeking to become major players in the marketplace. Unique cultural priorities, lifestyles, buyer decision‐making factors, economic development goals, legal environment, and religious conditions require utilisation of appropriate bank marketing strategies that respond to the region's needs. A model of marketing innovation for managers to evaluate environmental factors and adoption/ implementation processes associated with survival and growth of the Arab banking industry is provided.