Marketing: An Islamic Perspective

World Journal of Social Sciences Vol. 1. No. 3. July 2011. Pp. 71-81 

 Marketing: An Islamic Perspective Md. Mahabub Alom* and Md. Shariful Haque** The purpose of this paper is to formulate and develop a marketing definition and its framework from Islamic perspective. In present business world, market and globalization are becoming the first truly world creed which binds all corners of the globe into a world-view and set of values. Here marketing practices are playing a vital role in raising the standards of business conducts worldwide. But the roots of it are secularism, value-neutral materialism, Social-Darwinism, Utilitarianism, and ‘rational economic man’ oriented. The spirits of these isms is selfishness, persuasion of profit, and want maximization. But in contrast, Islamic world-view comprises religious values, cultural values, and universal values which can be accepted and respected universally and can visualize a consumer oriented marketing culture which can ensure a balanced synthesis of both the material and the spiritual dimensions of life which emphasize to maximize the welfare of the world and the world hereafter and can establish fraternity and socio economic justice. This descriptive study will attempt to provide a brief review of conventional marketing literature at the same time it will formulate and develop a definition of Islamic Marketing and its framework based on The Holy Quran, ×adÊth and Islamic Literature.