Introduction to the Concept of Holistic Marketing Essay

The shortest definition of market Man whilement is Meeting Needs Profitably. Whose Needs ? The contains of the tidy sum, or the customers or consumers, Who is trying to determine ? The Producer, Marketer or the Company, What is the Objective ? With profit to the phoner, & satisfaction to the customers. What Is MarketedMarketing people ar involved in merchandise the following 10 types of entities Goods Physical products, consumer products, consumer durables Services Transport, recompense & maintenance, legal, financial, consultancy, hotel, extraised skills matters Trade shows, sports, world cups, vintage car r every last(predicate)y, fashion shows, artistic performance Experiences Theatres, opera, Disney-world, trekking, ocean cruise, cinema, unison concerts Persons Celebrity merchandising, film stars, politicians, artists, performers, advertisers Places Cities, states, countries for tourism, leisure & place for industrialisation & business Properties Ownership of tangible properties ilk palpable estate, house, apartment, farm house, precious metals and intangible properties like financial portfolio of various securities Organisations Building up identity, image, reputation, and value in the minds of consumers Information It can be produced, packaged & marketed as a product text books, encyclopaedias, magazines & journals on literature, science, technology, medicate info, available thru internet Ideas The conceit regarding a utility, business opportunity, advertising / trade ideas, scientific & technical, neighborly, financial, psychological etc.Marketing ConceptsThe Marketing concepts under which boldnesss have conducted market activities include Exchange Concept Exchange of goods and function among two agencies called buyer and seller, or exchange of goods and services for money or barter system. occupation Concept Widely available and inexpensive, high-pitched production efficiency Product Concept smell, performa nce, utility, innovative features etc. Selling Concept Aggressive selling and promotion effort. The purpose of trade is to sell more(prenominal) close up to more people more often for more money in order to make more profit. Marketing Concept Products/Production oriented concept ( make & sell ) has changed to Consumer oriented concept ( common sense & respond ).Instead of hunting selling is gardening. The job is non to find the duty customer for the products, but the right products for the customers. The perceptive contrast between the selling and merchandising concepts selling focuses on the needs of the seller, merchandising on the needs of the buyer. holistic Marketing Concept Marketers in the current age atomic issue forth 18 increasingly recognising the need to have a more complete & cohesive approach that goes beyond conventional application of marketing concepts. This concept is based on the training, design and implementation of marketing programs, processes a nd activities that receipt their breadth and inter-dependencies. Holistic Marketing recognises that everything matters with marketing and that a broad containd perspective is often necessary. The all- beta(a) components atomic number 18 Integrated Marketing, cozy Marketing, family Marketing,Social Responsibility Marketing.We shall discus each one of these in the following.Trends In Marketing PracticesThe marketplace is not the same as it used to be. It is promptly changing as a result of major, some generation interlinking societal forces that have created new behaviours, new opportunities & new challenges, much(prenominal) as globalisation,Deregulation, Privatisation,Technological Advances, The Internet Revolution,client Empowerment, Customisation,Market Fragmentation, Hightened Competition,Retail Transformation, etc.In response to this rapidly changing environments companies have restructured their business & marketing practices in some of the following ways Reengineeri ng Appointing teams to manage customer-value-building processes & bar down walls between departments. Outsourcing Greater willingness to buy more goods & services from outside domestic or foreign vendors. Benchmarking Studying best practice companies to improve performance. Supplier Partnering Increased partnering with fewer but 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 & circumstance. Globalising Increased effort to Think Global & Act Local. Flattening Reducing the number of organisational levels to get closer to the customers. Focusing Determining the most gainful business & customers & focusing on them.Accelerating Designing the organisation & setting up processes to respond more right away to changes in the environment. Empowering Encouraging & empowering personnel to produce more ide as & take more initiative. Accordingly the role of marketing organisation is likewise changing. Traditionally, the marketers have played the role of middlemen between the customers & the various functional areas of the organisation. In a net practiseed enterprise, every functional area can interact directly with customers. consequently marketing needs to integrate all the customer-facing processes so that customers a single face (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, communication & delivering value to the customers. The Famous Marketing Mix the foursome Ps, as devised by McCarthy constitute the traditional marketing activities in four broad groups as given below in details Products Design, Features, Brand Name, Models, Style, Appearance, Quality, Warranty, mailboat (d esign, type, material, size, appearance & labelling), Service ( pre-sale, after sale, service standards, service charges), Returns. Price Pricing Policies, List Price, Margins, Discounts, Rebates, Terms of Delivery, earnings Terms, Credit Terms, Instalment Purchase Facility, Resale Price, Maintenance prices.Place Channels of Distribution ( track 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 Sales Force, Quality of Sales Force, and Marketing Communications Advertising (media-mix, media vehicles, and programmes), sales promotions, publicity & public relations, direct & interactive marketing). Now, these traditional concepts of Four Ps represent the sellers view of the marketing tools available to influence buyers. In holistic marketing one has to see similarly the buye rs point of view, where each of these tools will 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 victorious companies are those who can meet (1) customer needs (2) economically, (3) conveniently & (4) with effective communication. Two broad concepts of integrated marketing are as follows some(prenominal) different marketing activities are used to create, channel & deliver customer value, All marketing activities coordinated to maximise their joint efforts. Or in separate words, the design & implementation of one activity is done with all other activities in mind. The business of political campaign a successful organisation is to integrate the system for solicitude of demand, resources & network. Integrated marketing communication is a case in point.Internal MarketingInternal marketing ensures that everyone in the organisat ion adopts appropriate marketing principles and the top management should see it happen. This is the management task of hiring, training & motivating the employees to resolve the customers healthy. Smart & successful companies understand that there is as much activity outside the company as inside. For it makes no sense to promise excellent services before the companys service staff is ready to provide. Internal marketing must happen in two levels as follows At the first 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 tandem or unison for common goal.At the second level, marketing must be embraced by other departments for a common goal of the organisation. 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 departm ents target & norms and not supporting the marketing objectives will take the company nowhere. One has to bear in mind that its marketing that earns tax. 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 realise that their jobs are to create, serve & satisfy the customers does the company become an effective marketer. descent MarketingThe development of deep, enduring relationships with all the people or firms involved directly or indirectly in the firms marketing activities is appearance as a key goal of marketing. This is the concept of Relationship marketing it aims at building in return satisfying long-term relationships with key parties like customers, financiers, suppliers, distributors & of configuration the stakeholders, in order to earn & retain their business. It also builds strong economic, techni cal & social binding amongst the parties. There are four key constituents of marketing are CustomersEmployeesMarketing Partners Channels, Suppliers, Distributors, Dealers, Retailers, Agencies, etc. Financial Community Shareholders, Stakeholders, Financiers, Investors, Analysts, etc. Another key constituent is the Society well-wishers, scientists, professors, environmentalists. The eventual(prenominal) goal of relationship marketing is the building of a unique company asset 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 principle 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 c apabilities & 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 Management (CRM) with customers, Partner Relationship Management (PRM) with other partners. Since these being separate subjects themselves, are beyond the scope of this article.Social Responsibility MarketingHolistic marketing incorporates social responsibility marketing. This involves broader concerns of the society at large, like social, legal, ethical & environmental in the context of marketing activities. Companies operate in a society, and so do their customers and hence they should never forget its contribution to the company. It requires that marketers carefully consider the role they are playing in terms of social welfare. Companies need to evaluate whether they are truly practicing ethical & socially responsible marketing. Several factors are driving the companies to pra ctice high level of corporate social responsibility, such as upgrade customer expectations,Changing employees expectations,Govt. Legislation & pressure,Investor interest in social criteria,Changing business procurement criteria. barter 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 adhere to a recruit of serving peoples interests, not only 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 pass on the employees with adequate knowledge of law & how to practice them. We have Govt. laws, Society laws, and the organisations must ensure the employees know & bring up relevant law, and restrain themselves from practicing illegal, antisocial, corruptive, anticompetitive practices. Ethical Behaviour Companies mus t evolve & adopt a properly written 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, bionomical & 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 while dealing with customers & the stakeholders. Cause Related Marketing Contribution to the society can be enormous, and hence companies choose a particular area of society for a particular cause. The examples are wellness awareness Heart Diseases, AIDS, Cancer, Diabetic, Obesity, Old 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 & volunteerism. Social Marketing Some marketing is conducted to directly extension a social problem or cause. Social marketing is done mainly by NGOs, Non-Profit or Govt. organisations to further a cause, such as No smoking, Say NO to Dr ugs, etc. The Holistic Marketing MatrixIntegrated Marketing Products & Services, Communications, Channels Internal Marketing Top Management, Marketing Department, another(prenominal) 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 strategies. continuously create new ideas if the company is to prosper in a hyper-competitive economy. strive for customer insight & treat customers differently, but appropriately. build their brands thru performance, more than thru promoti on. go electronic & win thru building superior information & communication systems. In these ways, modern marketing will pass to evolve & confront new challenges & opportunities. As a result, the coming years will see the demise of & the rise of The Demise 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 Centre Marketing & TelemarketingPublic Relation Marketing including Event & Sponsorship Marketing Brand-building & Brand-asset ManagementIntegrated Marketing CommunicationsProfitability Analysis by Segment, Customer, Channel experiential MarketingConcl usionThe 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 exacting 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.