MKTG208 – Holistic Marketing
Define and discuss the concept of holistic marketing. Your discussion should include the following: 1. Describe and analyze the ways holistic marketing can assist organizations to connect with customers. 2. Explain how holistic marketing can build brand/s. 3. Explain how holistic marketing can deliver and communicate value.
The Holistic Marketing concept is based on the development, design and implementation of marketing programs, processes and activities that recognise their breadth and interdependencies. It is thus an approach that attempts to recognise and reconcile the scope and complexities of marketing activities (Kotler et. al, 2009).
Holistic marketing recognises that the quality of
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For example, Westfield shopping centres only operate within NSW.
Product or brand management is commonly used by organizations that produce a variety of products or brands. An extra level of management is added to supervise the various categories or product areas that the business operates in. This presents an advantage for organizations such as Kraft, as it separates the product categories of cereal, pet food and beverages. (Kotler et. al, 2009)
Similarly, instead of separating by product categories, market management organization uses a focus on user groups and market segments. For instance, a firm may sell to individual consumers, business and/or government.
Integrated marketing is the coordination and integrating of all marketing communication tools, avenues, and sources within a company into a seamless program that maximises the impact on customers and other stakeholders at a minimal cost. (Kotler et. al, 2009)
By directing Internal Integrated Marketing Communications (IIMC) towards their employees, firms are able to promote employee satisfaction, trust and commitment, thereby strengthening the firm-employee relationship and ultimately affecting profitability by enhancing customer satisfaction (Herington, Johnson and Scott 2006).
Integrated marketing is based on a strategic marketing plan. The plan coordinates efforts in all components of the marketing mix. A complete integrated marketing plan starts with and incorporates every element of the
* Integrated marketing program is a comprehensive plan that communicates and delivers the intended value to chosen customers.
Consider an organization of interest to you. This might be a church, a club, a service
Integrated marketing communication is combination of all marketing tools, resources and approaches within a corporation which capitalize on impact on consumer mind and results into maximum profit at low minimum cost. In general marketing starts from "Marketing Mix". Promotion is one part of Marketing Mix. Promotional activities consist of Advertising, sales and trade promotion and personal/ direct selling activities. It also includes sponsorship marketing, internet marketing, direct marketing, public relations and database marketing. And incorporation of all these promotional tools along with the other components of marketing mix to achieve edge over rivals is called Integrated Marketing
Marketing is an important area in any company. Integrated marketing is an area of the marketing world. This type of marketing can increase brand value and this allows for a high turnover on the company’s investments. We will review a company and describe the purpose and value of integrated marketing, as well as showing what value the plan adds to the company.
For product managers, first of all, they need to determine product features in each market segment according to customer buying criteria. For example, in traditional market segment age is the most important product attribute for customers, so
“One of the most talked about ideas in marketing during the 1990s was the notion of integrated marketing communications (IMC). And while marketing managers still clearly feel that it is a valuable concept and one that will play an increasingly important role in their companies, there is unfortunately a great deal of evidence to suggest that truly integrated marketing communications is the exception rather than a rule”
Several facts are changing in today’s marketing communications. Owing to the growing numbers of alternative communication media and promotion, marketing communication does not just primarily focus on advertising and promotion. Organizations and entrepreneurs begin moving toward the process of integrated marketing communication (IMC), which has emerged as a new concept and the major communication development in marketing in the 21th century. More and more companies adopt IMC to convey a consistent message about their brand and products to derive competitive advantage and brand value. In addition, IMC has developed into a beneficial strategy for companies to reach more customers as well as build good customer relationships. Smith et al.
The Marketing Concept. This is a business philosophy that challenges the above three business orientations. Its central tenets crystallized in the 1950s. It holds that the key to achieving its organizational goals (goals of the selling company) consists of the company being more effective than competitors in creating, delivering, and communicating customer value to its selected target customers. The Marketing Concept represents the major change in today’s company orientation that provides the foundation to achieve competitive advantage. This philosophy is the foundation of consultative selling.
Like most business plans, the intergerated marketing communications plan begins with an over view of the activity. This is particularly important for intergrated planning as the priorities in the planning process must be identified as should the key tasks across the programme. This is
Organic Baby food would be monitoring the relationships with the business collaborators, the business strengths: the 5Cs, and their customers (Iacobucci, 2010). Integrated marketing communication is integration of all marketing tools, approaches, and resources within a company which maximizes impact on consumer mind and which results into maximum profit at minimum cost. Generally marketing starts from “Marketing Mix”.
The marketing segmentation concept allows a company to focus on a specific group of customers that it is best prepared and suited to satisfy. Rather than trying to be all things to all people, selecting a target market enables a company to tailor its offerings to more specific customer needs and preferences (Schewe & Hiam, 1998, p. 200). When a company focuses its efforts and capital (both tangible and intangible) on a more narrowly defined set of needs, it is more likely that the customers will get the product they desire. Companies that use the marketing segmentation concept typically have a more intimate knowledge of the customers they target, and customers usually relate better with companies that understand their interests. As such a relationship is built.
To ensure an effective marketing campaign an Integrated Marketing Strategy must be developed to communicate the brand and work collectively with various tactics to deliver a seamless message to consumers that stand out amongst competition. The objective is to make certain all elements of the marketing communication including, public relations, advertising, online communication, direct marketing, social media, and sales promotions are a collaboration of a unified campaign to effectively promote a product, rather than each tactic working independently, and would not have a maximize effectiveness. Csikósová (2014).
Internal marketing has fast become a priority activity within many organizations as companies engage in a race towards the development of unique, sustainable sources of competitive advantage. For many companies, internal marketing is seen as a “solution to the problem of delivering consistently high service quality” (Ahmed and Rafiq xiii), wherein internal marketing activities are designed to align employee actions and behaviors with the values and desired image of the organization, potentially eliminating the costs of business lost due to bad or unsatisfactory employee interactions with customers. The concept of internal marketing was first introduced by
Prior to this class, although I have some experience in a marketing type role, I thought of marketing as the process that was activated post product development and the vehicle to product/service promotion and advertisement to the marketplace. Through this class, I have a greater understanding of marketing, and realize promotion and advertisement is just a fraction of it, and has much more depth. Marketing begins at the beginning, and is integrated through to the end of the life cycle. It has a significant impact on the development stages as well as delivery to the marketplace. Marketing is a set of procedures facilitated in businesses for creating, communicating and delivering value to customers. Furthermore, marketing is about
2. Then we need to understand the customers with whom we have been successful and why.