7P's: A Literature Review of Islamic Marketing and Contemporary Marketing Mix

Abstract

Islam viewed commerce as a vital factor in human life as long as the process is parallel with Islamic teachings pertaining to business conduct. Particularly, Allah SWT destined Prophet Muhammad SAW to be a successful businessman before his prophetic life. Since Islam is a way of life, the code of conduct of marketing should be guided by Quran and Hadith, the two main references that Muslims adhere to in order to be successful in life and the hereafter. To date, the term Islamic marketing and its existence and acceptance remains an issue that are widely debated amongst academics, students, practitioners and consumers especially in the non-Islamic countries. Since there are arguments from scholars that Islamic marketing is significant in contemporary commercial activities, the concept of 7P's in marketing should be incorporated with Islamic principles. The concept of 7P's are selected due to its’ wide acceptance as the core pillars of marketing. Therefore, the purpose of this paper is to develop the understanding of 7P's based on both Islamic and contemporary perspectives of marketing. Thorough discussion pertaining to the mentioned issues will provide an in-depth understanding on each elements of the 7Ps. Furthermore, the integration of Islamic marketing and contemporary marketing can be seen as a new perspective to address the upsurge of interest towards Islamic marketing.