5 Benefits Of Holistic Marketing
Performance marketing: It is basically concerned with sales revenue, customer equity, brand equity or the overall performance of the business. If your company has never had a marketing strategy developed, or have been operating on an old one for some time, you might not have all information you need to evaluate your marketing from a holistic approach. The marketing management paradigm is based on the actual marketing processes and approach rather than just the production functions in the organization.
This marketing network will then decide the position of your business in the market; stronger the network higher will be its position in the market. Internal marketing is aimed at catering to the specific needs of the business's own employees. Holistic marketing involves interconnected marketing activities.
While activities like those mentioned above (blogging, social media, and so on) are indeed necessary, a complete strategy could contain parts that you may not easily recognize or that even fall under your company's direct control, like third party review sites.
According to Govindarajan (2007, p.10), the concept of holistic marketing entails the wider view of marketing strategies that involve the development of marketing programs, processes and activities that help in the marketing of products. Methodologically, this study would be based on the comprehensive evolution of marketing thoughts and would construct the operational dimensions on the emerging paradigm of holistic marketing.
For this purpose, a new concept is developed and that is Holistic Marketing Concept. Although in holistic marketing balancing the conflicting interest is not so easy, I think and believed that holistic marketing could deal with the need for a complete approach as acknowledged by the marketing practitioners at this time.
Secondly, he points out that integrated marketing enables organisations to devise appropriate price policies mindfulness And business efficient terms of delivery that suit their customers; thereby, promoting organisation's well-being in the market level and thus building its brand.
On the other hand, creating loyalty marketing program that ensures automatic customer club membership upon purchasing is another relationship marketing strategy that has helped most organisation to create long term relationship with their customers (Govindarajan 2007, p. 28).
The ultimate goal of relationship marketing is the building of a unique company asset called a marketing network, which consists of the company & its supporting stakeholders as listed above with whom it has built manual profit relationships. Therefore internal marketing while considering holistic marketing will greatly benefit a business through the services that they are to the company should offer to the people.
It will help to increase sales as well and the customers will be enticed to buy their products again and again. This approach helps to achieve satisfaction and reconciling the interests of a fairly wide range of people by combining different in their focus marketing concepts into an integrated system.
The following are the most important factors of socially responsible marketing : Legal Behaviour : Companies operate within the law of the land, and they must impart the employees with adequate knowledge of law & how to practice them. It's what we call holistic marketing.
He notes that listening to customers' views and demands, especially during the products' supply chain, is an essential method of strengthening the business connection between organisations and customers. It uses integrated marketing to meet customer needs. In this way, in the above approach, a business can get the exact product at an exact price with the exact benefits.
The idea of holistic marketing gave itself birth from the need to keep the communication message across all platforms same, in order to create more in-depth marketing. Businesses realize they can set themselves apart through a holistic marketing approach, while at the same time creating a synergy among departments in the organization.
