ECONOMICS
CONSUMERS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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create barriers to entry
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follow the fair rules in all its dealing
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use the deceptive advertising to promote
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participate in lending or borrowing money at fixed price
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Detailed explanation-1: -Islamic marketing ethics combines the principle of value maximisation with the principles of equity and justice for the welfare of the society. Adherence to the Islamic ethics in the Islamic banking industry can help elevate the standards of both behaviour and living of bankers and customers alike.
Detailed explanation-2: -There are of three elements that could become strategy towards product in Islamic Marketing namely differentiation, marketing mix, and selling. The type of differentiation that Prophet Muhammad SAW made was unique at his time which promotes both sellers and the products they sell must be coherent.
Detailed explanation-3: -The Islamic ethical guidelines ensure respect for, and the individual freedom of, both bankers and customers. Islamic ethics dictate that under no circumstances should marketers exploit their customers or in any way involve themselves in dishonesty, fraud or deceit.
Detailed explanation-4: -Contracts should be fair to all parties. Partnership is preferred over hierarchical claims. Speculation is prohibited. “They don’t like gambling, ” said Hayes. Interest is prohibited. Compassion is required when a business is in trouble. 04-Feb-2002