Heuristic Marketing Concept is based on the development, design and implementation of marketing programs, processes and activated that recognizes their breadth and interdependencies. Holistic marketing recognized that everything matters in the marketing – and that a broad, integrated perspective is often necessary.
So this concept recognizes every aspect of marketing and its importance. It is further divided into 4 broad sub categories. These are:
Today in this competitive market, retaining customers is a major challenge. So every company keeps customer’s need and demand as their main priority. Companies try to establish a relationship with customers as well as its partners and suppliers which can be beneficial to the company.
Relationship Marketing aims to build mutually satisfying long-term relationship with key constituents in order to earn and retain their business.
Holistic marketing also identifies internal marketing to ensure that everyone in the organization embraces appropriate marketing principles. It includes hiring, training and motivating. It is very important to train internal people and make them able to provide world class services to the customers. Without smart and professional people in the people, marketing a good service or better product in the market is unworthy.
One of the major tasks of marketing manager is to study marketing activities and assemble fully integrated marketing programs to create, communicate and deliver values to the customers so marketing managers apply 4 P’s of marketing: Product, Price, Place and Promotion. In case of service marketing, we have 7 P’s: Product, Price, Place, Promotion, Process, Physical Evidence and People.
o Product Quality
o Brand Name
o List Price
o Payment Period
o Sale Promotion
It defines the returns to the business from marketing activated and programs as well as addressing broader concerns and their legal, ethical, social and environment effects. Top management studies not about just sales and profit or revenue; they study also about customer satisfaction, product quality and standard, customer lose rate etc.
Few concepts of performance marketing:
1. Financial Accountability
2. Social Responsibility Marketing
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