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Holistic marketing

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Holistic marketing

  1. 1. SYBBA SEM 3 Ch.1.5 Holistic Marketing Concept Prof. Ajay Shukla Rofel-BBA
  2. 2. • The Holistic Marketing Concept • The companies of 21st century have new capabilities that are instrumental in transforming the way they have been doing marketing. Companies, therefore, need a fresh thinking about as to how to operate and compete in the new marketing environment. • Marketers in the 21st century are incrementally recognizing the need for having more complete, cohesive and concrete approach that goes beyond the traditional applications of the marketing concept.
  3. 3. • What is needed is holistic marketing concept or integrated marketing concept based on the development, design, and implementation of marketing programs, processes, and activities that respect their breadth and nterdependencies. • Holistic marketing recognizes that “everything matters” with marketing and that broadly integrated perspective is very essential. Such a holistic approach has four components namely, relationship marketing, integrated marketing, internal marketing and social responsibility marketing.
  4. 4. • Holistic marketing thus recognizes and reconciles the scope and complexities of marketing activities. Figure 1.3 provides a schematic overview of four broad components characterizing holistic marketing: • Relationship marketing, • Integrated marketing, • Internal marketing, and • Performance marketing. • Successful companies keep their marketing changing with the changes in their marketplace—and marketspace.
  5. 5. • Relationship marketing aims to build mutually satisfying long-term relationships with key constituents in order to earn and retain their business. • Four key constituents for relationship marketing are customers, employees, marketing partners (channels, suppliers, distributors, dealers, agencies), and members of the financial community (shareholders, investors, analysts). • Marketers must create prosperity among all these constituents and balance the returns to all key stakeholders. To develop strong relationships with them requires understanding their capabilities and resources, needs, goals, and desires.
  6. 6. • Integrated Marketing • All company communications also must be integrated. Using an integrated communication strategy means choosing communication options that reinforce and complement each other. • A marketer might selectively employ television, radio, and print advertising, public relations and events
  7. 7. • The company must also develop an integrated channel strategy. It should assess each channel option for its direct effect on product sales and brand equity, as well as its indirect effect through interactions with other channel options.
  8. 8. • Internal Marketing • Internal marketing, an element of holistic marketing, is the task of hiring, training, and motivating able employees who want to serve customers well. It ensures that everyone in the organization embraces appropriate marketing principles, especially senior management. • It makes no sense to promise excellent service before the company’s staff is ready to provide it.
  9. 9. • Performance Marketing • Performance marketing requires understanding the financial and nonfinancial returns to business and society from marketing activities and programs. • Top marketers are increasingly going beyond sales revenue to examine the marketing scorecard and interpret what is happening to market share, customer loss rate, customer satisfaction, product quality, and other measures. • They are also considering the legal, ethical, social, and environmental effects of marketing activities and programs.
  10. 10. Thank you Keep LEarning

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