Marketing Strategic of Financial Services by Islamic Banks
Author(s)
Malik Shahzad Shabbir , Shar Zaman ,
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Abstract
the aim of this study is to explore and pinpoint some marketing strategies issues which can be helpful for new investors and old stakeholders in the sector of Islamic banking in Pakistan, In order to penetrate successfully in the market. The research problem of this study is to investigate that what can be suitable and effective marketing strategies for Islamic Banking in Pakistan? Our target groups are those Islamic banks and standalone Islamic bank branches that are currently working in Pakistani market and those who are interested in exploring the Pakistani market. There has come a swift transition in the financial services in the world including Pakistan. A new mode of banking, such as Islamic banking has been introduced and accepted widely in many countries of the world including Pakistan. Our study has portrayed the current situation for Islamic banking in Pakistan by investigating the current competition of the industry using porter five forces model and at using PEST analysis macro level. We have analyzed that the competition is very high in the industry and Islamic banks could take more market shares by introducing the more innovative products with less price as compared to conventional banks and by widen up their branch network to all small and big cities of Pakistan.
Keywords
marketing strategies, stakeholders, penetrate, innovative products
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