Cedomir Nestorovic, Professor at ESSEC Business School explains the importance of Asia in geopolitics.
The Asian population is expending more and faster than in any other continents. That population is also becoming more educated and could end up becoming a threat to established economies, such as the United States and Europe. The assertiveness of different Asian countries makes them aware of their own importance. China for instance does not hesitate to be much more active on the International scene than before. This is why ESSEC students coming to Singapore or the one in France need to have a focus on Asia. The geopolitical issue is very important for students. They usually have an ethnocentric approach, viewing the world from Europe's point of view. This can not be done regarding Asia. You have to be in Asia in order to understand it. This is why when students come to Singapore, they discover a lot of things.
The objective of the Geopolitics & Marketing Islamic course is not to predict what may happen in the future, but to find out tendencies, that you can analyze and that you can isolate from the rest. Marketing in Islamic countries is very specific because religion has a tremendous impact on the behavior of individuals whether they are consumers or companies. The five pillars of Islam are permeable to all elements of marketing. Using the usual approach of marketing (the 4 Ps) might not be enough to understand what is happening in Islamic countries. The basic businesses rely on Islamic finance and the Halal business. There is an acute question regarding Halal certification. You can have the best product, without the Halal certification, there is a problem of trust for consumers. This trust is passing through the certification itself.
Adopting a product policy or adopting a distribution or communication policy must take the religious dimension into account: not necessarily the theological one, but the direct and practical implication of it.
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