Wednesday, March 3, 2010

Holistic Marketing Concept and Consumer Value

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Holistic Marketing Concept and Consumer Value
Holistic marketing concept focuses on all matters related to marketing. Some of them are as follows:
It uses integrated marketing to meet customer needs.
It uses relationship marketing to develop lifelong relations with customers.
It uses internal marketing to make members of organization customer-oriented.
It practices societal marketing to promote consumer and societal welfare.
It uses performance marketing to ensure profitability from marketing efforts.

Customer Value:

Customer value is the ratio of benefits to costs. And the benefit is what the customer gets. It can be functional and emotional. Whereas cost is what the customer gives, pays or spends. It can be in term of money, time, energy and psychic.

Holistic marketing captures customer value. It delivers a high level of quality, service and speed to customers. It means its aim to provide good satisfaction to the customers. It helps to achieve profitability by:
Expanding customer share: Customer share increases.
Building customer loyalty: Loyal customers increase.
Capturing customer lifetime value: It is captured through relationship management.

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