Monday, March 1, 2010

Holistic Marketing Concept

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Holistic Marketing ConceptThe focus of this concept is that everything matters in marketing. It integrates the new concept with the societal marketing concept. Integrated marketing is used to meet customer needs. Relationship marketing is used to develop lifelong relations with customers. Internal marketing is used to make all members of the organization customer-oriented. Social responsibility is practiced to promote consumer and societal welfare. Performance marketing is practiced to ensure financial accountability in profit terms.

The holistic marketing concept has the following features:

The starting point is the target market.
Focus is given to all matters related to marketing. Any one aspect of marketing is not given too much attention.
The means for marketing are:
· Integrated Marketing: It is practiced to efficiently and effectively utilize marketing resources. All marketing matters are put under the marketing department.
· Relationship Marketing: It is practiced to develop mutually satisfying long-term relationships with customers to retain them. They become satisfied and lifelong loyal customers. Amicable relations are developed with all the stakeholders to retain their business. The key stakeholders are customers, employees, channel members and financial institutions. A network of relationships is built.
· Internal Marketing: It is practiced to make all managers and employees customer-oriented. They are given training to become customer-oriented. Customer think is promoted orgainzationwide.
· Societal Marketing: It is practiced to enhance consumer and social welfare.
· Performance Marketing: It is practiced to ensure financial accountability in profitability terms. It assesses the value of marketing efforts.
d) The goal of the organization are effectively achieved through marketing think.

Holistic concept is the latest thinking about marketing. It has five pillars:
Integrated Marketing
Relationship Marketing
Internal Marketing
Societal Marketing
Performance Marketing

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