Introduction to the Concept of Holistic Marketing Essay

The shortest comment of merchandise Man daysment is Meeting Needs Profitably. Whose Needs ? The deprivationfully of the people, or the customers or consumers, Who is trying to disturb ? The Producer, Marketer or the Company, What is the accusatory ? With profit to the company, & satisfaction to the customers. What Is Marketed selling people atomic number 18 involve in merchandise the undermentioned 10 types of entities Goods concentrated-arm products, consumer products, consumer durables Services Transport, amends & maintenance, legal, financial, consultancy, hotel, specialised skills Events Trade shows, sports, world cups, vintage car rally, fashion shows, exquisite performance Experiences Theatres, opera, Disney-world, trekking, ocean cruise, cinema, music concerts Persons Celebrity selling, film stars, politicians, artists, performers, advertisers Places Cities, states, countries for tourism, leisure & egress for industrialisation & business Properties O wnership of tangible properties ilk real estate, house, apartment, enhance house, precious metals and intangible properties like financial portfolio of various securities Organisations Building up identity, image, reputation, and mensurate in the bear in minds of consumers Information It washstand be produced, packaged & marketed as a product text books, encyclopaedias, magazines & journals on literature, science, technology, medicine info, available thru net profit Ideas The innovation regarding a utility, business opportunity, advertising / trade ideas, scientific & technical, social, financial, psychological etc. merchandising ConceptsThe marketing conceptions under which organisations stimulate conducted merchandising activities allow Exchange Concept Exchange of nigh(a)s and services between two agencies called demoralizeer and seller, or exchange of goods and services for money or barter system. merchandise Concept Widely available and inexpensive, high production efficiency yield Concept Quality, performance, utility, innovative features etc. Selling Concept Aggressive merchandising and promotion effort. The purpose of selling is to sell more(prenominal) than stuff to more people more often for more money in hallow to make more profit. Marketing Concept reapings/Production oriented concept ( make & sell ) has changed to Consumer oriented concept ( sense & react ).Instead of hunting trade is gardening. The job is not to rouge out the right customer for the products, and the right products for the customers. The perceptive contrast between the selling and merchandise concepts selling focuses on the needs of the seller, marketing on the needs of the geter. Ho inclinationic Marketing Concept Marketers in the current age argon increasingly recognising the need to have a more make do & cohesive approach that goes beyond customs dutyal application of marketing concepts. This concept is based on the development, desig n and implementation of marketing programs, processes and activities that recognise their bigness and inter-dependencies. Holistic Marketing recognises that all(prenominal)thing matters with marketing and that a roomy integrated military position is often necessary. The important components are combine Marketing,Internal Marketing, kin Marketing, kind Responsibility Marketing.We shall discus s perpetuallyally one of these in the follo progressg.Trends In Marketing PracticesThe marketplace is not the same as it used to be. It is rapidly changing as a result of major, sometimes interlinking societal forces that have created spic-and-span behaviours, new opportunities & new challenges, such as Globalisation,Deregulation, Privatisation,Technological Advances, The earnings Revolution,Customer Empowerment, Customisation,Market Fragmentation, Hightened Competition,Retail Transformation, etc.In response to this rapidly changing environments companies have restructured their busin ess & marketing workouts in some of the following ways Reengineering Appointing teams to manage customer-value-building processes & break down walls between departments. Outsourcing Greater ordainingness to buy more goods & services from outside domestic or foreign vendors. Benchmarking canvas best practice companies to improve performance. Supplier Partnering Increased partnering with fewer neertheless better value-adding suppliers. Customer Partnering Working more closely with customers to add value to their operation. Merging Acquiring or merging with firms in the same or complementary industries to gain economy of scale & scope. Globalising Increased effort to weigh Global & Act Local. Flattening Reducing the number of organisational levels to get surrounding(prenominal) to the customers. Focusing Determining the most profitable business & customers & focusing on them.Accelerating Designing the organisation & setting up processes to respond more chop-chop to ch anges in the environment. Empowering Encouraging & empowering personnel to produce more ideas & take more initiative. Accordingly the role of marketing organisation is in like manner changing. Traditionally, the marketers have contend the role of middlemen between the customers & the various functional areas of the organisation. In a intercommunicateed enterprise, every functional area can interact directly with customers. frankincense marketing needs to integrate all the customer-facing processes so that customers a single baptismal font (Integrated Marketing) & hear a single voice (Integrated Marketing Communications) when they interact with the company. Integrated MarketingOne of the major tasks of marketers is to integrate all the marketing activities & programmes like creating, communicating & bring throughing value to the customers. The Famous Marketing Mix the Four Ps, as devised by McCarthy constitute the traditional marketing activities in quaternion broad groups as given to a lower place in details Products Design, Features, Brand Name, Models, Style, Appearance, Quality, Warranty, parcel of land (design, type, material, size, appearance & labelling), Service ( pre-sale, after sale, service measurings, service charges), Returns. Price determine Policies, List Price, Margins, Discounts, Rebates, Terms of Delivery, Payment Terms, Credit Terms, Instalment Purchase Facility, Resale Price, keep prices.Place Channels of Distribution ( channel design, types of intermediaries, location of outlets, channel remuneration, dealer-principle relation, etc.), Physical Distribution (transportation, warehousing, inventory levels, order processing, etc.) Promotion Personal Selling, Selling Expertise, size of it of Sales Force, Quality of Sales Force, and Marketing Communications Advertising (media-mix, media vehicles, and programmes), gross revenue promotions, publicity & public relations, direct & interactive marketing). Now, these traditional con cepts of Four Ps represent the sellers view of the marketing tools available to influence buyers. In holistic marketing one has to appear withal the buyers point of view, where each of these tools go out deliver the customers benefit or value. Robert Lauterborn suggested the buyers Four Cs as follows Product = Customer Solution,Price = Customer Cost,Place = Convenience,Promotion = CommunicationThus the self-made companies are those who can meet (1) customer needs (2) economically, (3) conveniently & (4) with effective dialogue. Two broad concepts of integrated marketing are as follows Several different marketing activities are used to create, communicate & deliver customer value, all(prenominal) marketing activities coordinated to maximise their joint efforts. Or in former(a) words, the design & implementation of one activity is make with all other activities in mind. The business of running a successful organisation is to integrate the system for management of demand, res ources & network. Integrated marketing communication is a case in point.Internal MarketingInternal marketing ensures that everyone in the organisation adopts appropriate marketing principles and the top management should see it happen. This is the management task of hiring, training & motivating the employees to serve the customers swell up. Smart & successful companies understand that there is as much activity outside the company as inside. For it makes no sense to promise excellent services forwards the companys service staff is ready to provide. Internal marketing must(prenominal) happen in two levels as follows At the for the first time level, all the marketing functions like, sales force, market research, customer service, product management, advertising, etc. must go together, i.e., all the personnel should work in bicycle-reinforced-for-two or unison for common terminal.At the second level, marketing must be embraced by other departments for a common goal of the organ isation. All the relevant functional departments like Finance, HR, Operations, Logistics, Systems, etc. must coordinate each other to have a marketing orientation. Only trying to meet individual departments target & norms and not supporting the marketing target areas will take the company nowhere. One has to bear in mind that its marketing that earns revenue. Internal marketing requires that everyone in the organisation buy into the concepts & goals of marketing, and engage themselves in selecting, creating, communicating & delivering customer value. Only when all the employees earn that their jobs are to create, serve & satisfy the customers does the company stimulate an effective marketer. kind MarketingThe development of deep, enduring relationships with all the people or firms involved directly or indirectly in the firms marketing activities is appearing as a key goal of marketing. This is the concept of race marketing it aims at building mutually satisfying long-term relat ionships with key parties like customers, financiers, suppliers, distributors & of raceway the stakeholders, in order to earn & retain their business. It also builds strong economic, technical & social binding amongst the parties. in that location are four key ingredients of marketing are CustomersEmployeesMarketing Partners Channels, Suppliers, Distributors, Dealers, Retailers, Agencies, etc. Financial club Shareholders, Stakeholders, Financiers, Investors, Analysts, etc. Another key constituent is the purchase order well-wishers, scientists, professors, environmentalists. The ultimate goal of relationship marketing is the building of a unique company plus called a marketing network, which consists of the company & its supporting stakeholders as listed above with whom it has built manual profit relationships. Interestingly, today, the competition is not between companies as such, but between the carefully built marketing networks whoever has a better network wins.So the p rinciple is simple build an effective network, & the profits will follow. But the practice is not so. The development & building of a strong relationship requires a deep understanding of the capabilities & resources of different groups as well as their needs, goals & desires. Relationship marketing involves the right kind of relationships with right constituent groups, like Customer Relationship heed (CRM) with customers, Partner Relationship Management (PRM) with other partners. Since these being separate subjects themselves, are beyond the scope of this article. kindly Responsibility MarketingHolistic marketing incorporates social responsibility marketing. This involves broader concerns of the caller at large, like social, legal, ethical & environmental in the context of marketing activities. Companies operate in a orderliness, and so do their customers and hence they should never forget its division to the company. It requires that marketers carefully consider the role they are play in terms of social welfare. Companies need to evaluate whether they are very practicing ethical & socially creditworthy marketing. Several factors are driving the companies to practice higher level of corporate social responsibility, such as go up customer expectations,ever-changing employees expectations,Govt. Legislation & pressure,Investor interest in social criteria,Changing business procurement criteria.Business success and continually satisfying the customers & other stakeholders are closely linked to adoption & implementation of high standard of business & marketing conduct. The most admired companies in the world bring together to a code of serving peoples interests, not completely there own. The following are the most important factors of socially responsible marketing Legal Behaviour Companies operate within the law of the land, and they must impart the employees with adequate knowledge of law & how to practice them. We have Govt. laws, Society laws, and th e organisations must ensure the employees know & observe relevant law, and restrain themselves from practicing illegal, antisocial, corruptive, anticompetitive practices. respectable Behaviour Companies must evolve & adopt a properly compose code of conduct based on the social & cultural ethics, decency, tradition & legal practices, and ensure that all concerned are responsible in observing these guidelines.Today customers are well aware of the social, cultural, ecological & environmental affairs in their day-to-day lives. Social Responsibility Behaviour As said above, the customers also want to know what the firms contribution to the society is, or what the companys social conscience is duration dealing with customers & the stakeholders. Cause Related Marketing Contribution to the society can be enormous, and hence companies choose a particular proposition area of society for a particular cause. The examples are Health awareness Heart Diseases, AIDS, Cancer, Diabetic, Obesi ty, grey-haired age, etc. Running childrens home, old age home, rehabilitation centre, womens home, etc. Infrastructure rural housing, hospitals, preserving archaeological places, maintaining roads & parks, homes for endangered species educational scholarship for the poor & needy, higher education facility, Institutes Treatment for destitute, food for the starvingInformation legal & technical help during the hour of need Volunteerism & Philanthropy. The list can be endless. Reputed companies even have their own charitable trusts, and also have special cause related marketing plans. Cause-related marketing is the concept where the specific cause is directly or indirectly linked to the particular revenue transaction. The company has at least one non-economic social objective and uses the revenue generated from the designated sales. This concept is also known as Corporate societal Marketing (CSM). The CSM can include other activities like traditional & strategic philanthropy & volun teerism. Social Marketing Some marketing is conducted to directly dispense a social problem or cause. Social marketing is through with(p) mainly by NGOs, Non-Profit or Govt. organisations to further a cause, such as No smoking, Say NO to Drugs, etc. The Holistic Marketing MatrixIntegrated Marketing Products & Services, Communications, Channels Internal Marketing elevation Management, Marketing Department, Other Department Relatioship Marketing Customers, Partners, ChannelsSocial Responsibitity Marketing Community, Legal, Ethics, Environment The Future of Marketing The top management is slowly recognising that the marketing in the older method is getting wasteful and is demanding more accountability. There are a number of imperatives (must do) to achieve marketing excellence, as presented below Marketers must be Holistic and not in bits & parts, i.e., not sectional or departmental. achieve larger influence in the company if they are to be the main architect of business stra tegies. continuously create new ideas if the company is to prosper in a hyper-competitive economy. strive for customer keenness & treat customers differently, but appropriately. build their brands thru performance, more than thru promotion. go electronic & win thru building superior information & communication systems. In these ways, modern marketing will continue to evolve & confront new challenges & opportunities. As a result, the coming years will see the demise of & the rise of The end of The Rise ofThe marketing departmentHolistic marketingFree-spending marketingROI (return on investment) marketingMarketing intuitionMarketing scienceManual marketingAutomated marketingMass marketingPrecision marketingTo become truly holistic in marketing & achieve these changes, what the marketers need are a new set of skills, competencies in the following areas of expertise.Customer Relationship managementPartner Relationship managementDatabase Marketing & Data-miningContact centralize Ma rketing & TelemarketingPublic Relation Marketing including Event & Sponsorship Marketing Brand-building & Brand-asset ManagementIntegrated Marketing CommunicationsProfitability Analysis by Segment, Customer, ChannelExperiential MarketingConclusionThe Nineteenth century American author Ralph Waldo Emerson had said, This time like all times is a good one, if we but know what to do with it. Thus, the exciting time for marketing has arrived now. And also, in the relentless pursuit of marketing superiority & dominance, new concepts, rules, tools & practices are ever emerging. There are a number of benefits of successful twenty-first-century marketing. All we need are hard work, insight, right application of mind & tools, inspiration, perseverance & of course a willingness to achieve greater heights.