The holistic marketing is probably the newest approach to marketing and the updated business concept that is originated as a response to fundamental changes in the current marketing environment. This concept involves consistent marketing activities to ensure that the consumer is likely to buy their product rather than competition.
A holistic marketing concept is based on the development, design, and implementation of marketing programs, process and activities that recognize the breadth and interdependencies. It recognizes that “everything matters” with marketing and that a broad, integrated perspective is necessary to attain the best solution, – Philip Kotler and Kevin Lane. Holistic marketing seeks to utilize this exceptionality as an approach to helping identify the particular function from which to target end users.
It includes all elements of marketing mix 4p, closely related to the marketing mix 4C. According to both authors, there are four main components of holistic marketing:
- Relationship Marketing: Building an enhanced relationship with your customers, internal as well as end customers is valuable for holistic marketing.
- Integrated marketing: Products, services, and marketing should work hand in hand towards to growth of the organization. It is where products, administrations, and marketing work as one, towards the development of the organization.
- Internal marketing: Marketing between all the departments in an organization.
- Socially response marketing: Driving the sales and revenue growth of an organization holistically by reducing costs and increasing sales. A business is considered as a part of society and is required to repay the same. The marketing should not adopt an irresponsible behavior towards society.
Accordingly, Holistic marketing is a thought which is organization-wide and helps the development of the organization with the accurate marketing of the product. As an example, an organization will have different departments like sales and marketing, accounting and finance, R & D and product development and finally HR and operations. Thus if you want to implement a holistic marketing concept in your organization, you need to ensure the R & D and product development take the feedback from marketing and sales to launch the product which is most likely to attract the customers. On the other hand, they need to work closely with accounting and finance to find out the exact budget for the project. Sales and marketing need to communicate to the HR the right kind of people that they need and finally admin and operations need to devise a plan to retain these people.
Importance of Holistic Marketing:
Brand Building: The customers’ frame of mind is shifting. They believe in buying a brand and not the product alone. Holistic marketing empowers the company to construct a brand among all its stakeholders.
Consistency: It is significant to stay in the market for long. Since holistic marketing concept involves marketing the brand to all the stakeholders and from side to side combined communication strategies, reliability is maintained.
Efficiency: When every characteristic of the business is taken care of, it becomes easier to decrease repetition, become more proficient, and save the company’s time and money. The effectiveness can also be seen in tapping opportunities and spotting possible threats.
Effectiveness: Holistic marketing philosophy, by focusing on the big representation, creates a synergy that efficiently reinforces the product message, brand image, and positions the brand exceptionally in the minds of the customers.