Introduction to the Concept of Holistic Marketing
Introduction : Definition, What is Marketed, Marketing Concepts, Trends in Marketing Practices Holistic Marketing : Integrated Marketing, Internal Marketing, Relationship Marketing, Social Responsibility Marketing Holistic Marketing Mix
Future of Marketing
The shortest definition of Marketing Management is "Meeting Needs Profitably". Whose Needs ? - The needs of the people, or the customers or consumers, Who is trying to meet ? - The Producer, Marketer or the Company, What is the Objective ? - With profit to the company, & satisfaction to the customers. What Is Marketed
Marketing people are involved in marketing the following 10 types of entities - Goods - Physical products, consumer products, consumer durables Services - Transport, repair & maintenance, legal, financial, consultancy, hotel, specialised skills Events - Trade shows, sports, world cups, vintage car rally, fashion shows, artistic performance Experiences - Theatres, opera, Disney-world, trekking, ocean cruise, cinema, music concerts Persons - Celebrity marketing, film stars, politicians, artists, performers, advertisers Places - Cities, states, countries for tourism, leisure & place for industrialisation & business Properties - Ownership of tangible properties like real 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, medicine info, available thru internet Ideas - The concept regarding a utility, business opportunity, advertising / marketing ideas, scientific & technical, social, financial, psychological etc.
The Marketing concepts under which organisations have conducted marketing activities include : Exchange Concept - Exchange of goods and services between two agencies called buyer and seller, or exchange of goods and services for money or barter system. Production Concept - Widely available and inexpensive, high production efficiency Product Concept - Quality, performance, utility, innovative features etc. Selling Concept - Aggressive selling and promotion effort. "The purpose of marketing is to sell more stuff 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 ( sense & respond ). Instead of "hunting" marketing is gardening". The job is not to find the right customer for the products, but the right products for the customers. The perceptive contrast between the selling and marketing concepts - selling focuses on the needs of the seller, marketing on the needs of the buyer. Holistic Marketing Concept - Marketers in the current age are increasingly recognising the need to have a more complete & cohesive approach that goes beyond traditional application of marketing concepts. This concept is based on the development, design and implementation of marketing programs, processes and activities that recognise their breadth and inter-dependencies. Holistic Marketing recognises that "everything matters" with marketing - and that a broad integrated perspective is often necessary. The important components are : Integrated Marketing,
Social Responsibility Marketing.
We shall discus each one of these in the following.
Trends In Marketing Practices
The marketplace is not the same as it used to be. It is rapidly changing as a result of major, sometimes interlinking societal forces that have created new behaviours, new opportunities & new challenges, such as : ...