Tuesday, July 30, 2019
Journal Summary-International Marketing Ethics
Journal Summary International marketing ethics from an Islamic perspective: A value-maximization approach At the heart of Islamic marketing is principle of value-maximization based on equity and justice that can perform wider welfare for society nowadays. In case, there have five reason in the Islamic religious perspective that is importance in the global business ethic. First, Islam provides a guideline that builds the moral and ethical behavior.Second, Muslims countries represent the huge number of affluent customers in this era. Next, Islamic countries ready to welcome foreign investors and the result of this item, the level of foreign investment was increasing. In addition, what we can see, the Islamic trade expanding rapidly in International market from day to day absolutely can convince others to come and invest to these Islamic countries. Lastly, Muslims are control the application of the Islamic law in the thought and life aspect.Islamic teaching in economics operation was in cluding in marketing field whether domestic or global that absolutely has been providing with two resources; the Quran and Hadith. The Islamic perspective offers ways that create value and elevate the standard of living of people through commercials pursuits and it is also quite unique regarding the aspect of human activity in life. What we are doing in our life will be the things that we are responsible for and will be count at last.In facts, there is the concept of idealism and relativism as it means of setting ethics standards has acquired popularity among theoreticians. Idealism relates to the tendency to consider injury to others while relativism measures the tendency to disregard universal moral values. As we can see, international marketing relativism is becoming more influent in the field of global business. The basic of relativism is their experience and the term of experience can be described as their own culture.Islamic international ethic was difference from a convention al ethic in number of ways as an Islamic concept more stress on reference of Quran and Hadith. In terms of Concept of justice in marketing there are been defined into fair play and just dealing which is business according to the interest of all concerned and virtue which causes one to be fair to oneself or others. In addition, have two principles that been governed for any commercial activity from an Islamic perspective.There are submissions to moral order of God and mercy to GodÃ¢â¬â¢s creations which avoid from doing bad things towards others and refrain from unethical manner. When the five PÃ¢â¬â¢s (product, price, promotion, place and people) mix with the term Islamic principles of marketing mix in the context of international marketing, the terms show a number of different. As for the first P, which is Product clarify about the quality of the production process as in the Quran claim about the high quality ideals is one of the important aspect of actualizing safe product and services for the consumers.In the Islamic concept, they are most stress on the product that can give full satisfactions on basic human needs and the production process must be permissible and pure. The second P is price. In Islam, Muslims are prohibited to get something too easily without any effort and receive profit without working on it. Changing the price without altering the quality or quantity of the product is one that not allowed when a person doing business. Next P is promotion.Over praise of the product without considering about the true facts is considered as unethical behavior in the Islamic concept. Apart from that, the seller must to speak the true about the product condition while doing promotion and the buyer has the right to return the goods as long as they are not separateÃ inÃ a long time. In international marketers, they are required to reveal all problems in their product and the seller needs to disclose all the things about the goods that the buyers can ei ther see or not.The term of place is a process with a number of steps that starting with providing the buyer with a means to place the product by doing an order processing and ending with delivered the goods to the final consumers. One of the unethical manners during the packaging is one of the terms in place in marketing mix. The seller or supplier need to use packaging design that can protect the goods and prohibited to use inappropriate packaging when the products transferred through public highways.In the Islamic principle, distribution channel of the products to the final customers are supposed not to be a burden to them especially in terms of higher prices and delays. People were a last P of the marketing mix which is the customers has the right to know the information about the product. Islam emphasizes the importance of free to make judgment about the products are mostly lies on the consumers. As a matters of facts, in term of corporate responsibility, customers cannot toler ate when they having the unethical international marketing behaviors.The international marketing responsibilities can be categorizes to toward Gods, society, marketerÃ¢â¬â¢s own welfare and also environment. The culture of corruption and bribery are the most popular problem among the marketers and it is extremely prohibited in the Islamic principle. In short, the Islamic principle nowadays in the international marketing is governed by two sources; Quran and the practices of the Prophet. Thus, these Islamic practices do not differentiate between the temporal and the spiritual dimensions. Islam always respects the freedom of the customers while doing their business.