Chief executives recognize the role of marketers in brand building and market loyalty. Holistic marketing not only considers the fact that customers have varying requirements but also caters to these individual customer requirements.
Today the firms need to maintain a regular contact and keep reminding of the brand to the customers. Marketing is about identifying and meeting human and social needs.
Marketers must decide what features to design into a new product or service, what prices to set, where to sell products or offer services, and how much to spend on advertising, sales, the Internet or mobile marketing.
Marketing is an important activity in organization. The marketing should not adopt an irresponsible behavior towards the society. Internal marketing is based on the theme that employees are the internal customers of a firm and their satisfaction is of utmost importance in order to achieve the goal of customer satisfaction.
Marketers market 10 main types of entities: Any marketing decision is taken considering the perceived impact on the stakeholders. The traditional selling approach where the customers and firm interacted only during sales is no more acceptable in current environment.
Brand refers to the market recognition of the products and services provided by an organization. A South Asian Perspective.
Repeat purchases by the customers demand a strong relationship with them. The marketers today need to assure that any decisions made by them do not contradict the decisions made by any other department in the organization. Thereby they help to grow the economy.
Integrated marketing is based on the proposition that the marketers instead of deciding for individual marketing activities should make an integrated marketing program with the purpose to create, communicate and deliver value for the customers. The Scope of Marketing To prepare to be a marketer, one has to understand what marketing is, how it works, who does it, and what is marketed.
It is only when the resources of the entire organization move towards a common objective; the firms can expect to survive in the current hyper-competitive marketplace. It is basically about designing an effective integrated marketing mix executed well to derive synergy.
Eight States of Demand Negative demand: That requires expenditure or investment on the part of an organization. Goods, services, events, experiences, persons, places, properties, organizations, information and ideas Marketers do demand management.
This is developed through investment in branding or market development expenditure and this investment is totally managed by marketing department. The American Marketing Association provides this definition for marketing. To change a demand state, marketing mix elements have to be changed.
Holistic marketing has a wider perspective This approach takes into consideration all the various stakeholders of a business including the customers, employees, suppliers, shareholders, the community and the environment also. Finance, Operations, Accounting, and other functions have no job to do unless products and services with sufficient demand are identified and the organization is set up to satisfy that demand at required profit.
There are four components of holistic marketing: To manage demand, they use marketing mix. Eight demand states are possible. Marketers take the new product ideas and prototypes and test market them and give feedback to the organizations to improve the products and make them ore useful to the society.
Societal marketing suggests that marketing should consider ethics, society, laws and the environment while designing activities.Jan 08, · Holistic marketing recognizes that there are many variables and activities related to these variable that matter in marketing and therefore a broad integrative perspective is often necessary.
Kotler and Keller highlighted four. Philip Kotler and Kevin Lane Keller define holistic marketing concept as follows: “A holistic marketing concept is based on the development, design and implementation of marketing programs, processes and activities that recognize the breadth and inter-dependencies.
For the third part in the series I have been tempted to write about holistic marketing because it was also one of the topics written about in a book by Philip Kotler in association with Kevin Lane.
"Many say Kotler defined this course and the third edition of Framework for Marketing Management is noteworthy because it's the first time Kotler is joined by a co-author. Are you familiar with Kevin Lane Keller?" Companion Website for Framework for Marketing Management, 3rd Edition.
Companion Website for Framework for Marketing. According to holistic marketing concept, even if a business is made of various departments, the departments have to come together.
Concept of holistic marketing By Ankita Agarwal on October 23, By the words of Kotler, “The Holistic Marketing Concept is based on the development, design and implementation of marketing programs, processes and activities that recognizes their breadth and inter-dependencies”.Download