The Holistic Marketing Concepts
The new trends and forces have defined the new marketing realities, leading businesses to embrace a new set of beliefs and practices. The holistic marketing concept recognizes and reconciles the scope and complexities of marketing activities and acknowledges that everything matters in marketing—and that a broad, integrated perspective is often necessary.
The figure shows the four broad components characterizing holistic marketing: relationship marketing, integrated marketing, internal marketing, and performance marketing.
(1) Relationship Marketing
Marketing ultimately aims to develop deep, enduring relationships with people and organizations that directly or indirectly affect the success of the firm’s marketing activities. Relationship marketing aims to build mutually satisfying long-term relationships with key stakeholders in order to earn and retain their business; customers, employees, marketing partners (channels, suppliers, distributors, dealers), and members of the financial community (shareholders, investors, analysts).
Marketers must create prosperity among all these constituents and balance the returns to all key stakeholders. The ultimate outcome of relationship marketing is a unique company asset called a marketing network, consisting of the company and its supporting stakeholders—customers, employees, suppliers, distributors, retailers, and others—with whom it has built mutually profitable business relationships.
(2) Integrated Marketing
Based on the concept “the whole is greater than the sum of its parts”, integrated marketing occurs when the marketer devises marketing activities and assembles marketing programs to create, communicate, and deliver value for consumers.
In an integrated channel strategy, the marketers assess each channel option for its effect on sales and brand equity. Moreover, all company communications also must be integrated so communication options reinforce and complement each other. All communication channels must also deliver a consistent brand message at every contact.
(3) Internal Marketing
Smart marketers recognize that marketing activities within the company can be as important—or even more important—than those directed outside the company. It makes no sense to promise excellent service before the company’s staff is ready to provide it. Internal marketing inclusive the task of hiring, training, and motivating able employees who serve the customers well. Thus, marketing succeeds only when all departments work together to achieve customer goals.
(4) Performance Marketing
Performance marketing requires understanding the financial and non-financial returns to business and society from marketing activities and programs. As noted previously, top marketers are increasingly going beyond sales revenue to examine the marketing scorecard and interpret what is happening to market share, customer loss rate, customer satisfaction, product quality, and other measures. They are also considering the legal, ethical, social, and environmental effects of marketing activities and programs.